Belarus Top 10 Exports

Belarus Top 10 Exports

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Europe’s largest landlocked country, the Republic of Belarus shipped US$22.3 billion worth of goods around the globe in 2017. That dollar amount reflects a -40.1% decrease since 2013 and a -5.4% drop from 2016 to 2017.

Based on estimates from the Central Intelligence Agency’s World Factbook, Belarus’s exported goods plus services represent 65% of total Belarusian economic output or Gross Domestic Product. Please note that the overall value of exported goods and services includes a sizable share of re-exports. The analysis below focuses on exported products only.

From a continental perspective and using 2016 data, 83.1% of Belarusian exports by value are delivered to fellow European countries while 9.9% are sold to Asian importers. Belarus ships 2.5% worth of its total exports to Latin America (excluding Mexico) with 0.8% going to North America and 0.6% to Africa.

Given the Belarusian population of 9.5 million people, its total $22.3 billion in 2017 exports translates to roughly $2,300 for every resident in the Eastern European country.

Unemployment in Belarus was 0.5% as of March 2018 according to Trading Economics.

Belarus Top 10 Exports

Top 10

The following export product groups represent the highest dollar value in Belarusian global shipments during 2017 at the 2-digit Harmonized Tariff System (HTS) code level. Also shown is the percentage share each export category represents in terms of overall exports from Belarus.

Drilling down to the more granular 4-digit HTS codes, the most valuable Belarusian exported goods are refined petroleum oils ($2.7 billion), potassic fertilizers ($2 billion), trucks ($1 billion), cheese including curd ($793.5 million), tractors ($549.4 million) then concentrated/sweetened milk and cream ($444.4 million).

  1. Mineral fuels including oil: US$3.2 billion (14.2% of total exports)
  2. Fertilizers: $2.4 billion (10.6%)
  3. Dairy, eggs, honey: $2.1 billion (9.3%)
  4. Vehicles: $2 billion (9.1%)
  5. Wood: $1.18 billion (5.3%)
  6. Machinery including computers: $1.16 billion (5.2%)
  7. Plastics, plastic articles: $882.7 million (4%)
  8. Iron, steel: $819.2 million (3.7%)
  9. Electrical machinery, equipment: $749.6 million (3.4%)
  10. Articles of iron or steel: $699.6 million (3.1%)

The top 10 exports from Belarus accounted for over two-thirds (67.8%) of the overall value of its global shipments.

Wood was the fastest-growing among the top 10 export categories, up 39.9% in value from 2016 to 2017. The second-fastest gainer was the iron and steel category via a 31.8% increase. Dairy, eggs and honey appreciated by 10.9%, ahead of exported Belarusian vehicles at 10.4%.

The mineral fuels including oil led the decliners thanks to a -34.9% setback year over year. Machinery including computers retreated by -10.8% followed by the -3.3% downtick for Belarusian international sales of plastics and plastic articles.

Advantages

The following types of Belarusian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

  1. Fertilizers: US$2.3 billion (Down by -3.3% since 2016)
  2. Dairy, eggs, honey: $2 billion (Up by 13.1%)
  3. Wood: $1 billion (Up by 43.7%)
  4. Vehicles: $759.6 million (Up by 51.9%)
  5. Meat: $613.8 million (Up by 1.2%)
  6. Meat/seafood preparations: $296.5 million (Up by 34.5%)
  7. Furniture, bedding, lighting, signs, prefab buildings: $277.1 million (Up by 32%)
  8. Glass: $109.7 million (Up by 29.4%)
  9. Sugar, sugar confectionery: $83.1 million (Up by 148.8%)
  10. Manmade staple fibers: $65.4 million (Down by -13.7%)

Belarus has highly positive net exports in the international trade of fertilizers. In turn, these cashflows indicate Belarus’s strong competitive advantages under the fertilizers product category.

Opportunities

Overall Belarus incurred a -$7.5 billion trade deficit during 2017, up by 83.7% from -$4.1 billion one year earlier.

Below are exports from Belarus that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Belarus goods trail Belarusian importer spending on foreign products.

  1. Mineral fuels including oil: -US$3.5 billion (Up by 40.3% since 2016)
  2. Machinery including computers: -$1.8 billion (Up by 39.5%)
  3. Electrical machinery, equipment: -$867.4 million (Down by -14.2%)
  4. Iron, steel: -$693.2 million (Up by 58.2%)
  5. Fruits, nuts: -$402.9 million (Down by -54.1%)
  6. Pharmaceuticals: -$361.8 million (Down by -18.1%)
  7. Plastics, plastic articles: -$339.1 million (Down by -20.3%)
  8. Paper, paper items: -$279.7 million (Up by 6.1%)
  9. Organic chemicals: -$271.6 million (Down by -17.5%)
  10. Food industry waste, animal fodder: -$271.2 million (Down by -5.9%)

Belarus has highly negative net exports and therefore deep international trade deficits under the mineral fuels-related products category, notably crude oil and coal.

These cashflow deficiencies clearly indicate Belarusian competitive disadvantages in the international machinery market, but also represent key opportunities for Belarus to improve its position in the global economy through focused innovations.

Companies

Belarusian Export Companies

Given that Belarus is an emerging economy, it should come as no surprise that no Belarusian corporation appears on the Forbes Global 2000.

Wikipedia does list Belarusian export companies. Selected examples are shown below:

  • BelAZ (haulage, earth-moving equipment)
  • Belkamunmash (electric public transport vehicles)
  • Belshina (pneumatic tires)
  • Beltransgaz (natural gas)
  • Byelorussian Steel Works (steel)
  • JSC Defense Systems (air defense manufacturer)
  • Minsk Automobile Plant (automobiles)
  • Minsk Motorcycle (motorcycles)
  • Minsk Tractor Works (tractors)
  • Olivaria (brewery)
  • TransAVIAexport Airlines (cargo airline)
  • Velcom (mobile phones)


 
Minsk is the capital city of Belarus.

See also Belarus Top Trading Partners, European Union’s Top Trading Partners and Russia’s Top 10 Exports

Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 21, 2018

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 21, 2018

Investopedia, Net Exports Definition. Accessed on August 21, 2018

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on August 21, 2018

Trade Map, International Trade Centre. Accessed on August 21, 2018

Wikipedia, Belarus. Accessed on August 21, 2018

Wikipedia, List of Companies of Belarus. Accessed on August 21, 2018