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Belarus-Russia exchange trade up 3.8 times in Q1

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MINSK, 2 April (BelTA) – In the first quarter of 2024, the amount of exchange transactions between business entities of the Republic of Belarus and the Russian Federation increased 3.8 times to reach $199.3 million. Unlike in the same period last year, when imports from Russia significantly exceeded exports, this year Belarus posted $86.1 million in trade surplus, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).

“The growth in Belarus-Russia exchange trade and changes in its structure are mostly attributed to the increase in trade in agricultural products. Now it accounts for 66% of all transactions between companies of Russia and Belarus. Metal products come second with 18%, forestry products come third with 7%. More specifically, Belarusian products that were highest in demand among Russian bidders were butter, milk powder, cheeses, lumber and gas silicate blocks, while Belarusian companies mostly bought coal, black and non-ferrous rolled metal, grain and lubricants. Trade in industrial and consumer goods was also vibrant. Orders for purchase and sale were regularly placed by both Russian and Belarusian companies. As a result, the amount of transactions in this segment almost tripled to reach $6.7 million over January - March 2023,” the press service said.

According to BUCE, at present 3,756 Russian companies, including six brokers, are accredited at BUCE. Thus, since the beginning of the year, 146 new bidders from Russia have joined BUCE.

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