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Business news

2 Mar 2015

Belarus' exports to Czech Republic hit record high in 2014

MINSK, 2 March (BelTA) – Belarus posted its record-high exports of goods to the Czech Republic in 2014, BelTA learnt from Belarus’ Ambassador to the Czech Republic Vasily Markovich.

Belarus’ exports to the Czech Republic increased by 34.2% as against 2013 to make up $128.7 million in 2014. The export of Belarusian goods to the Czech market, exclusively of oil, oil products and nitrogen fertilizers, totaled $109.5 million, up 15%, or $14.3 million, from 2013. “Over the recent years the growth of exports, notwithstanding oil, oil products and fertilizers, have been insignificant. However, they exceeded the growth of the Belarusian exports to the Czech Republic in general,” Vasily Markovich stressed.

“In 2014 Belarus posted its best economic achievements in cooperation with the Czech Republic, in particular in the export of Belarusian goods, notwithstanding oil products and fertilizers,” the diplomat said.

Belarus’ main exports to the Czech Republic include oil products, unalloyed steel wire, potash fertilizers, twisted wire from ferrous metals without electrical isolation, integrated synthetic threads, aluminium metal goods, insulated conductors, cables, truck and tractor parts and other goods. “The Czech Republic moved up from 27th to 23rd position in the volume of Belarusian exports among Belarus’ trading partners. In 2014 export diversification totaled $534,300 as against 2013. Last year the number of commodity items in the Belarusian exports included 259 positions, up 1101 positions from 2009,” the diplomat said.

In 2014 the Belarusian-Czech bilateral trade exceeded $540 million, the growth made up 91.3% as against 2013. “Belarus’ trade deficit remains in place due to ongoing implementation of big investment projects in Belarus in 2015 and the Czech direct investment in Belarus. The trade deficit contracted by $116.8 million due to the export growth and import reduction to make up almost $283 million in 2014,” Vasily Markovich said.

Last year the Czech imports to Belarus reduced by almost 17% to $411.6 million as against 2013. “Czech imports include computing machinery and cars. The import largely depends on the investment projects implemented in Belarus with the participation of Czech companies. Belarus imports the total of 664 commodity items from the Czech Republic,” the Ambassador said.

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