Thursday, December 2, 2010

Record growth in negative balance of foreign goods trade


Record growth in negative balance of foreign goods trade

According to the results of the past 10 months, foreign goods trade negative balance reached $6932,5 mln.

For the same period of the year 2009 it amounted to $5703,6 mln., Belstat reports.

In October negative balance amounted to $949,9 mln. (against $989 mln. in September, $812,5 mln. in August, $691,1 mln. in July, $787,6 mln. in June, $659,1 mln. in May, $827 mln. in April, $767,3 mln. in March, $440,5 mln. in February and $28,5 mln. in January 2010).

The volume of foreign merchandise trade in January-October 2010 amounted to $46688,9 mln., thus increased by 17,7% in comparison with January-October 2009. Import of goods increased by 18,2% up to $26810,7 mln., export - by 17,0% up to $19878,2 mln.

Herewith, from the whole volume of export, supplies to CIS countries amounted to $10986,6 mln., thus increased by 47,5% in comparison with January-October 2009. Export to Russia increased by 48,6% up to $7999,1 mln. Export to non-CIS states decreased by 6,8% and amounted to $8891,6 mln.

In the whole volume of import, supplies from CIS countries amounted to $5845,1 mln., having increased by 9,2%. In particular, import volume from Russia increased by 5,1% and amounted to $14000,3 mln. From non-CIS states Belarus has increased import by 34% up to $10965,6 mln.

Negative balance in trade of Belarus with CIS countries amounted to $4858,5 mln. (against $7055,3 mln. in January-October 2009), in trade with Russia - $6001,2 mln. (against $7932,8 mln.). In trade with non-CIS states there is also negative balance, that amounted to $ 2074,0 mln.(while last year it was positive in the amount of $1351,7 mln.).

"Year by year we see the tendency to the growth of negative trade balance. This means, that we rather consume that produce. And the government still can't change the situation. In order to cope with consumption, we need borrowings, sell of state property and attraction of foreign investments. For the moment Belarus is rather accumulating debts. But soon we won't be granted loans ", the economist Leanid Zlotnikau stated in his interview to the website charter97.org.

Source: Charter'97 :: News from Belarus

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