Belarus growing dependent on imports

June 27, Pozirk. Belarus’ import-to-GDP ratio rose by 3.6 percent year on year to 69.6 percent in January-April, the central bank reported.

Higher values of the import-to-GDP indicator are linked to a lower added value of manufactured goods.

The current account deficit widened to $1.9 billion in the first quarter of 2024 and accounted for 11.3 percent of Belarus’ GDP.

Net borrowing by Belarusian companies from foreign countries amounted to $1.3 billion and accounted for 8.1 percent of GDP. Its share decreased by 0.2 percent from Q1 2023.

In the first four months of 2024, Belarus’ foreign trade in goods and services rose by 3.1 percent year on year to $31.4 billion, according to the central bank.

Trade moved into deficit, which amounted to $154.3 million, from a surplus of $146.8 million recorded in the same period of 2023.