{"id":3110,"date":"2023-09-27T14:51:00","date_gmt":"2023-09-27T11:51:00","guid":{"rendered":"https:\/\/api.pozirk.online\/?post_type=longreads&p=3110"},"modified":"2026-03-09T20:10:49","modified_gmt":"2026-03-09T20:10:49","slug":"belarus-trade-slips-into-deficit-amid-sanctions-trend-attributed-to-circumvention","status":"publish","type":"longreads","link":"https:\/\/pozirk.online\/en\/longreads\/3110\/","title":{"rendered":"Belarus\u2019 trade slips into deficit amid sanctions, trend attributed to circumvention"},"content":{"rendered":"\n

By Via\u010desla\u016d Korascie\u0144, BPN<\/em><\/p>\n\n\n\n

This year\u2019s trade data from Belarus may surprise with a deficit of $100 million in the first seven months, after a surplus of nearly $3.5 billion in the same period last year.<\/em><\/strong><\/p>\n\n\n\n

Nearly half of economy hit by sanctions<\/h4>\n\n\n\n

Trade balance explains the share of exports and imports in an economy. When a country exports more goods than what it imports, it has a surplus. Conversely, when it imports more than what it exports, it has a deficit.<\/p>\n\n\n\n

Belarus posted a trade surplus in 2021 ($3.97 billion) and 2020 ($1.9 billion). In 2019, it posted a deficit of $403 million.<\/p>\n\n\n\n

These numbers are sometimes cited to describe the health of an economy but experts warn they are overly simplistic and fail to take into account other factors such as growth, employment or productivity. For instance, the United States, the world’s largest economy, has uninterruptedly posted a trade deficit since the 1970s.<\/p>\n\n\n\n

Belarus\u2019 trade surplus was attributable to a sharp rise in exports to Russia after the 2020 political crisis and the Russian full-scale assault on Ukraine. Minsk has been hit by sanctions for its support of the invasion. Russia responded by opening access to Belarusian goods and services.<\/p>\n\n\n\n

In March, Alaksandar \u010carviako\u016d, Belarus\u2019 economy minister, said the government had been working to redirect trade eastward and deepen industrial cooperation with Russia, with a focus on import substitution.<\/p>\n\n\n\n

On September 13, a senior official with his ministry, reported that export flows had been redirected to \u201cfriendly countries.\u201d<\/p>\n\n\n\n

Russia accounted for 69 percent of Belarus\u2019 trade in 2023. Belarus\u2019 trade is projected to rise from $77 billion in 2022 to $80 billion this year, said D\u017amitryj Krutoj, the Belarusian ambassador in Moscow, on September 12. Trade with Russia is expected to amount to $55 billion, he added.<\/p>\n\n\n\n

Krutoj said that the sanctions have affected 45 percent of the Belarusian economy, noting that the share of Western Europe and Ukraine shrank from 40 percent to five percent of sales in a year.<\/p>\n\n\n\n

Surplus in services not enough<\/h4>\n\n\n\n

Imports have outpaced exports because the government has adopted a policy to drive higher domestic demand, and also because of lower export prices, Anatol Charyton\u010dyk, of the Belarusian Economic Research and Outreach Center, said at a news conference on September 21.<\/p>\n\n\n\n

He noted that a surplus in services trade has shrunk sharply as revenues from transportation and IT services have plunged. \u201cThe two industries are stagnating,\u201d he said.<\/p>\n\n\n\n

Circumvention may have contributed<\/h4>\n\n\n\n

The vigorous trade growth must have something to do with grey schemes to circumvent sanctions, said U\u0142adzimir Kava\u0142kin, of the Ko\u0161t Urada (Cost of Government) think tank.<\/p>\n\n\n\n

\u201cThe schemes are directly responsible for imports outpacing exports,\u201d he told The Viewer. \u201cSince goods just transit Belarus on their way to Russia, Minsk is hardly able to limit the traffic because of conflicts of interest with influential persons in the neighboring country or groups of interests in Belarus, on whose support the government relies.\u201d<\/p>\n\n\n\n

Although the deficit may expand, it remains quite manageable as long as the central bank has sufficient foreign exchange reserves to close the gap, Kava\u0142kin said.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Via\u010desla\u016d Korascie\u0144, BPN This year\u2019s trade data from Belarus may surprise with a deficit of $100 million in the first seven months, after a surplus of nearly $3.5 billion in the same period last year. Nearly half of economy hit by sanctions Trade balance explains the share of exports and imports in an economy. When […]<\/p>\n","protected":false},"author":83,"featured_media":3027,"template":"","rubric":[24],"class_list":["post-3110","longreads","type-longreads","status-publish","has-post-thumbnail","hentry","rubric-theviewer"],"acf":[],"yoast_head":"\nBelarus\u2019 trade slips into deficit amid sanctions, trend attributed to circumvention | Pozirk<\/title>\n<meta name=\"description\" content=\"By Via\u010desla\u016d Korascie\u0144, BPN This year\u2019s trade data from Belarus may surprise with a deficit of $100 million in the first seven months, after a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pozirk.online\/en\/longreads\/3110\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Belarus\u2019 trade slips into deficit amid sanctions, trend attributed to circumvention | 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