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Belarus set to increase exports to Russia by 7%, to distant countries - by 12% in 2024

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MINSK, 22 November (BelTA) – In 2024, Belarus plans to increase exports to the Russian Federation by 7%, to distant countries - by 12%, Belarusian Deputy Prime Minister Pyotr Parkhomchik said at a joint sitting of the House of Representatives and the Council of the Republic in Minsk on 22 November, BelTA reports.

"In line with the draft forecast documents for 2024 the country is set to bolster exports to the Russian Federation by 7% over 2023 and maintain a share in Russian imports of at least 9%. Exports to the geographically distant countries are projected to go up by at least 12%," Piotr Parkhomchik noted.

As for this year, there have been significant changes in the country's export structure. "We have redirected all trade flows from unfriendly countries. Exports to the markets of friendly countries have risen. The export of engineering and chemical goods, oil products, textile materials and textile products has been completely redirected," the deputy prime minister said.

The share of friendly countries in exports rose by 14%. "We have seen the largest increase in exports to the EAEU countries (by 18.4%) and to Asian countries (by 1.5 times). In January-September, the merchandise export to Russia surged by 19.7%," Piotr Parkhomchik noted.

For the second year in a row, the share of Belarusian goods in Russian imports has been growing: engineering and vehicles posted an increase of 6.8% against the average 3.7% in 2015-2022, chemical products - 6.5% against the average of 4%, timber products - 24.2% against the average of 11.6%, ferrous metals and products from them - up to 11.7% against the average of 6.5%.

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