Think tank attributes sharp rise in imports to sanctions evasion

February 29, Pozirk. Belarus’s role in supplying sanctioned goods to Russia causes disparity in the growth of its exports and imports, said Košt Urada, a project that analyzes Belarusian finances.

Imports of foreign raw materials and components last year exceeded Belarusian exports of similar goods by $4.1 billion, it noted. In 2022, the deficit amounted to $4.6 billion, it added.

Equipment exports rose by 0.3 percent in 2023, while imports soared by over 50 percent; consumer goods exports rose by 5.4 percent, and imports, by 27.7 percent, Košt Urada said.

Exports and imports were more balanced at the end of the first and second quarters and rose sharply at the end of the year, Košt Urada noted.

Imports exceeded exports in November and December, increasing pressure on the economy through a trade deficit.