Business news

Belarus’ industrial enterprises to expand import-substitution production in 2024

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MINSK, 22 December (BelTA) – Enterprises subordinate to the Belarusian Industry Ministry are expected to make $5.9 billion worth of import-substituting products in 2023, BelTA learned from Deputy Industry Minister Aleksei Kozlov.

Import-substitution production is expected to expand further in 2024 to exceed $6.1 billion. The increase is envisaged across the following groups: trucks, buses, vans, truck trailers, grain and forage harvesting machinery, diesel engines, rolled metal products, and TV sets.

An upward trend in import-substitution production will be largely ensured thanks to the development of innovative products.

In January-October 2023 the share of shipped innovative products in the total volume of shipped products of manufacturing industry organizations amounted to 46.7%, while the target for the year was 33.5%.

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