Business news

23 Jun 2020

Lithuania named top buyer via BUCE in January-May 2020

An archive photo

MINSK, 23 June (BelTA) – Lithuania was the main buyer of goods via the Belarusian Universal Commodity Exchange (BUCE) in January-May 2020, BUCE Press Secretary Roman Yaniv told BelTA.

“In monetary terms, Belarus’ export to the Lithuanian market amounted to $44 million, or almost 30% of the total export via the BUCE in January-May. Woodworking products accounted for the largest share in the sales. For example, Belarus sold $37 million worth of sawn timber, and $3 million worth of wood ship. Other major exports included rapeseed oil, scrap and residue of ferrous and non-ferrous metals,” Roman Yaniv said.

The top three export markets also included Latvia and Germany that bought $26 million and $24 million worth of goods via the exchange respectively. The main category of goods, supplied to these countries, was also sawn timber, primarily planks and materials for container products.

“Curiously, in January-May 2020, Russia – Belarus’ main trading and economic partner – did not make it into the top five buyers via the BUCE, giving way to Estonia, although the number of Russian companies accredited with the BUCE is way larger than Estonian ones: 2,383 against 154. This disparity is explained by the structure of export via the exchange, that is normally dominated by forest products that do not enjoy demand among Russian companies as they have enough such resources of their own,” Roman Yaniv pointed out.

The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. The BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with exporting products and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.

As of 1 June 2020, there were 4,700 foreign companies accredited with the BUCE, including 2,383 Russian, 442 Lithuanian, 369 Latvian, 331 Polish, 154 Estonian, and 94 German companies.



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