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9 Apr 2018

Growing variety and quality of Belarus' exports noted

MINSK, 9 April (BelTA) – The commodity structure of Belarus’ exports saw significant changes in 2017 with the improvement of quantitative and qualitative indicators, Belarus’ First Deputy Minister of Foreign Affairs Andrei Yevdochenko said in an interview with Director magazine, BelTA informs.

“There is an opinion that Belarus’ exports in 2017 showed growth only thanks to the rising oil product prices. It is not like that. Last year, the commodity structure of our exports saw big changes: we improved both quantitative and qualitative indicators,” Andrei Yevdochenko stressed.

In his words, the exports of every commodity group posted an increase. The energy exports went up by $2 billion (up by 42.8%). The exports of mechanical engineering products rose by $1.6 billion (21.7%), foods and agricultural products by $678 million (16.3%), chemicals by $652 million (13.8%), metallurgy products by $442 million (23.4%), wood processing products by $306 million (30.2%), textile, clothes, and footwear by $103 million (11.1%).

“Thus, non-primary products account for almost 60% of the increase in exports. These are the products not related with oil, oil products, fertilizers, and mineral products,” the first deputy minister stated.

He added that despite the good results achieved to date, there is still a problem with increasing the share of innovative high-tech products in Belarus’ exports, especially in those to the developed Western countries. “However, this is not an external problem. This is the matter of restructuring of our domestic economy, setting up knowledge-intensive high-tech next generation manufacturing facilities, forming a favorable investment climate in Belarus to attract FDI, and other things,” the diplomat pointed out.

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