Business news

Belarus-China trade hits $4.6bn in 2020

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MINSK, 24 February (BelTA) – The trade between Belarus and China rose to $4.6 billion in 2020, BelTA learned from the Belarusian Embassy in Beijing.

“According to the National Statistical Committee, China became Belarus’ second biggest trading partner by the end of 2020. Russia retained the first spot,” the statement reads.

The trade between Belarus and China amounted to $4.6 billion, up by $0.8 million over 2019. Belarus’ export increased by 9.4% ($776.9 million), import shrank by 1.7% ($3.84 billion). Belarus posted a trade deficit, however the gap narrowed by 4.1%.

The embassy believes that Belarusian export to the PRC rose on the back of agricultural and woodworking products which supplies doubled. A total of 105 Belarusian agricultural producers are now accredited in China.

Despite the slowdown in business activity in the world amid the coronavirus pandemic, Belarus-China trade became more smooth. The sales of Belarusian products in the highly competitive Chinese market rose substantially.

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