National Bank reports 80 percent plunge in foreign trade surplus

April 12, BPN. The surplus of Belarus’ foreign trade in goods and services amounted to $134.4 million in the first two months of 2023, plunging by 78.5 percent year on year, the National Bank said. 

Foreign trade in goods and services amounted to $14.8 billion in January-February falling by 0.6 percent year on year with exports at $7.5 billion (-3.8 percent) and imports at $7.3 billion (+2.8 percent), the National Bank’s calculations show.

In 2022, foreign trade in goods and services dropped by six percent and amounted to $89.2 billion, with exports at $46.8 billion (-5.4 percent) and imports at $42.5 billion (-6.6 percent).

On March 10, Alaksandr Łukašenka said that Belarus has not yet fully compensated for all losses from Western sanctions despite redirecting about 80 percent of its exports to countries it considers friendly.