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8 March 2019

Review of Economic Relations Between Russia and Belarus in 2018

Russia and Belarus has a long-standing diplomatic, traiding and economic relations. By volume of bilateral trade in 2018, the Republic of Belarus ranks No 4 among Russian trade partners after China, Germany and the Netherlands. The share of Belarus in the foreign trade turnover of Russia in 2018 amounted to 4.9%. Russia is a key trade partner for Belarus, which share in foreign trade turnover of Belarus reached 49%.

 

Breakdown of Annual Rates of Bilateral Trade between Russia and Belarus

 

January-December 2018

Aggregates of Russia and Belarus trade

$35.5 billion ↑ 11%

Import form Russia to Belarus

$22.8 billion ↑ 16.3%

Export from Belarus to Russia

$12.9 billion ↑ 2%

 

Belarus Foreign Economic Activities Review

According to the Committee on National Statistics of the Republic of Belarus foreign trade turnover in Belarus in 2018 as a whole amounted to $72 billion (↑13.6% as compared to 2017), of which 53.2% was import and 46.8% – export.

At present, Belarus import prevails over export but the gap has been narrowing. Basically Belarus imports the following: mineral products, machines, equipment, vehicles, chemical industry products, natural rubber, food products, agricultural raw materials, ferrous and nonferrous metals and metal products. In Russia Belarus in 2018, purchases mineral products (crude oil and refined products), machines, equipment, metals and metal products, vehicles, plastic, natural rubber, resin elastic, chemical industry products, food products, beverages, tobacco, organic products, books, paper and cardboard. At year-end 2018 Belarus import volume amounted to $38.4 billion and this is 12.2% more than for the same period in 2017.

Mineral and chemical industry products, natural rubber, food products, raw materials, machines, equipment and vehicles represent the basis of Belarus export. Russia purchased in Belarus products of animal origin (milk, eggs, cheese, butter, honey, meet, fish) as well as vehicles, machines and equipment. At the end of 2018, Belarus export amounted to $33.7 billion, which is 15.3% more as compared with 2017.

 

Transport Efficiency Performance Indicators

Over the period of 12 months of 2018, Belarus freight companies transported 455.5 million tons of cargo, which is 3.6% more than in 2017. Breakdown by means of transportation is given below.

 

Loading volumes

Freight turnover

Overall rates

455.5 million tons ↑ 3.6%

138.8 billion ton-kilometers ↑ 4.1%

Railway transport

52.6 million tons ↑ 8.3%

157.1 billion ton-kilometers ↑ 7.4%

Pipeline transport

125.2 million tons↑ 0.6%

58 billion ton-kilometers ↑ 0.6%

Motor Vehicle

170.8 million tons ↑ 2.5%

28 billion ton-kilometers ↑ 4%

Inland water-borne transport

2.2 million tons ↑ 8.7%

0.04 billion ton-kilometers ↑ 15.6%

Transportation by air

0.05 million tons ↓ 5.5%

0.08 billion ton-kilometers ↓ 9.6%

According to the decree of the Aleksander Lukashenko (The President of the Republic of Belarus), the forecast of economic and social development is as follows: 4% increase of GDP, 5.4% increase of goods and services exports as compared to 2018, consumer prices must not exceed 5%, and people’s real money incomes must increase by 3.4%.