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27 Jul 2020

Share of Latvia, Lithuania, Poland in merchandise export via BUCE at 57% in H1 2020

Share of Latvia, Lithuania, Poland in merchandise export via BUCE at 57% in H1 2020
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MINSK, 27 July (BelTA) – In H1 2020 Latvia, Lithuania, and Poland accounted for 57% of the total merchandise export facilitated by the Belarusian Universal Commodity Exchange (BUCE), BelTA has learned.

Residents of the three countries carried out import deals to the tune of $116.8 million. Just like last year Lithuania was the top buyer, with the sum of the deals at $56.7 million, 4% up on H1 2019.

The most popular products bought via BUCE in H1 2020 included edged softwood timber, chip fuel, and colza oil. Lithuanian companies were the largest buyers of sawn timber. They signed exchange trade contracts worth $46.6 million. Polish companies were the top buyer of chip fuel, with the sum of the deals at $13.7 million. As for colza oil, Estonian companies were the most active customers, with the sum of the deals at $2.1 million.

On the whole, foreign companies used BUCE more heavily, thus contributing positively to foreign trade dynamics. Export to Belgium increased by 73% to $1.4 million, to China by six times to $1.2 million, to the USA by 36% to $1.1 million, to Spain by 68% to $0.7 million, to Moldova by 5.7 times to $0.6 million.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

As many as 4,729 foreign companies were accredited with BUCE as of 1 July 2020, including 2,399 companies from Russia, 444 from Lithuania, 374 from Latvia, 333 from Poland, 154 from Estonia, and 94 from Germany.

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