Business news

4 May 2021

FEZ Grodnoinvest exports up 23% in Q1 2021

An archive photo

GRODNO, 4 May (BelTA) - Residents of the free economic zone Grodnoinvest increased exports by 23% to $280 million in Q1 2021 compared with the same stretch a year ago, BelTA learned from the administration of the free economic zone.

The share of exports in the total revenue of the FEZ residents increased to 70%.

“The key markets are Russia, Ukraine, as well as the European Union countries. In the first quarter of the year the export of Belarusian products to Russia went up 21% to about $180 million, the export to Ukraine totaled $25.7 million,” the FEZ administration said.

The export to the EU exceeded $58 million (up 142%). The key market here is still Poland ($30 million). The supplies to Germany, France, Estonia, the Czech Republic, Denmark, Lithuania and the Netherlands grew many times.

“The export to third countries amounted to $6.4 million, which is 3.8 times up from Q1 2020. Supplies of Belarusian products to Vietnam, Egypt, the UAE, the UK, and Turkey have increased significantly,” the FEZ administration noted.

The FEZ Grodnoinvest residents export products of chemical, woodworking, textile, engineering and agricultural industries. In Q1 2021, supplies of polycarboxylic acids, fertilizers, wood boards, plywood, furniture, rapeseed oil and other products to foreign markets increased.