Belarus Top Trading Partners

Belarus Top Trading Partners

by FlagLane.com

Belarus shipped US$23.4 billion worth of products around the globe in 2016. That figure represents roughly 0.14% of overall global exports estimated at $16.236 trillion one year earlier in 2015.

From a continental perspective, 82.9% of Belarusian exports by value are delivered to other European countries while 10% are sold to Asian importers. Belarus ships just 0.9% worth of its total exports to North America with 0.7% going to Africa.

Belarus Top 15 Trading Partners

Top 15

Below is a list showcasing 15 of Belarus’ top trading partners, countries that imported the most Belarusian shipments by dollar value during 2016. Also shown is each import country’s percentage of total Belarusian exports.

  1. Russia: US$10.7 billion (45.8% of total Belarusian exports)
  2. Ukraine: $2.8 billion (12%)
  3. United Kingdom: $1.1 billion (4.7%)
  4. Germany: $935.8 million (4%)
  5. Netherlands: $932.7 million (4%)
  6. Poland: $813 million (3.5%)
  7. Lithuania: $779.7 million (3.3%)
  8. Brazil: $444 million (1.9%)
  9. China: $399.3 million (1.7%)
  10. Kazakhstan: $361.5 million (1.5%)
  11. Latvia: $273.2 million (1.2%)
  12. India: $255.7 million (1.1%)
  13. Indonesia: $169.4 million (0.7%)
  14. Belgium: $155.9 million (0.7%)
  15. Bangladesh: $135.3 million (0.6%)

Almost nine-tenths (86.7%) of Belarusian exports in 2016 were delivered to the above 15 trade partners.

Indonesia increased purchases from Belarus at the fastest pace, up by 707.7% in value from 2009 to 2016. Bangladesh boosted its imports from Belarus by 485.5% while Belarusian exports to China appreciated 129.5%.

Which top trading partners decreased their import purchases from Belarus at the fastest pace? Latvia cut back on their import purchases by -83.5% while Belarusian exports to the Netherlands depreciated by -83.5%.

Deficits

As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.

It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports. Overall, Belarus incurred a -$4 billion trade deficit during 2016.

In 2016, Belarus incurred the highest trade deficits with the following countries:

  1. Russia: -US$4.3 billion (country-specific trade deficit in 2016)
  2. China: -$1.7 billion
  3. Turkey: -$638 million
  4. Italy: -$463.1 million
  5. Germany: -$381.3 million
  6. Poland: -$365.1 million
  7. United States: -$249.4 million
  8. Spain: -$199.8 million
  9. France: -$198.1 million
  10. Switzerland: -$141.6 million

Among Belarus’ trading partners that cause the greatest positive trade balances, only Belarusian deficits with Turkey (up 487.8%), China (up 87.4%) and Spain (up 22%) expanded from 2009 to 2016.

These cashflow deficiencies clearly indicate Belarus’ competitive disadvantages with the above countries, but also represent key opportunities for Belarus to develop country-specific strategies to strengthen its overall position in international trade.

Surpluses

Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.

In 2016, Belarus incurred the highest trade surpluses with the following countries:

  1. Ukraine: US$1.9 billion (country-specific trade surplus in 2016)
  2. United Kingdom: $945.4 million
  3. Netherlands: $724.2 million
  4. Lithuania: $515.8 million
  5. Brazil: $369.1 million
  6. Kazakhstan: $306.2 million
  7. Latvia: $203.2 million
  8. Indonesia: $149.6 million
  9. India: $126 million
  10. Bangladesh: $116.5 million

Among Belarus’ trading partners that cause the greatest positive trade balances, Belarusian surpluses with Bangladesh (up 529.6%), Ukraine (up 363.3%) and Lithuania (up 208.7%) grew at the fastest pace from 2009 to 2016.

These positive cashflow streams clearly indicate Belarus’ competitive advantages with the above countries, but also represent key opportunities for Belarus to develop country-specific strategies to optimize its overall position in international trade.

Companies

Companies Servicing Belarusian Trading Partners

Given that Belarus is an emerging economy, it should come as no surprise that no Belarusian corporation appears on the Forbes Global 2000 for 2015.

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

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


 
See also Belarus Top 10 Exports

Research Sources:
The World Factbook, Field Listing: Imports – Commodities, Central Intelligence Agency. Accessed on March 2, 2017

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on March 2, 2017

Investopedia, Net Importer Definition. Accessed on March 2, 2017

Wikipedia, List of Companies of Belarus. Accessed on March 2, 2017

Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 2, 2017