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Merchandise export via Belarusian Universal Commodity Exchange 80% up in H1 2021
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MINSK, 23 July (BelTA) – The sum of export deals facilitated by the Belarusian Universal Commodity Exchange (BUCE) reached $369 million in H1 2021, 80% up from H1 2020, BelTA learned from BUCE Press Secretary Roman Yaniv.
Companies from 29 countries bought Belarusian goods via the Belarusian Universal Commodity Exchange. The top five export markets were Lithuania, Germany, Latvia, Estonia, and Russia. Each of them demonstrated positive dynamics. In particular, export to Lithuania rose by 77% to $101 million primarily thanks to shipments of sawn timber, chipped wood, and products made by converting oil-bearing crops. Export to Latvia rose by 74% to $57 million. The top-selling products were sawn timber, wooden poles and stakes, rapeseed oil, and scraps of ferrous and non-ferrous metals.
In turn, Germany spent nearly $64 million on buying Belarusian sawn timber and slightly more than $1 million on buying wooden stakes, milk powder, and industrial-grade casein. The export growth rate reached 249% as against H1 2020.
Russia has not been one of the top five target markets for the last few years. This year’s high figures were influenced considerably by an increase in shipments of Belarusian construction materials and dairy products. Export of cement to Russia rose by six times to $10.7 million, butter by 61 times to $10 million, and milk powder by seven times to $6.6 million.
As far as remote countries are concerned, cooperation with China develops most fruitfully. Thanks to tight cooperation with the Belarusian embassy in China and active marketing efforts of the Belarusian Universal Commodity Exchange 17 new Chinese companies have been accredited with the Belarusian Universal Commodity Exchange this year. Export to China via BUCE rose by more than 16 times to $19 million in cost terms. Sawn timber and rapeseed oil were the top sellers.
Apart from that, in 2021 the Belarusian Universal Commodity Exchange officially reached the Egyptian market by enabling regular shipments of Belarusian timber. Five Egyptian companies work via the Belarusian Universal Commodity Exchange now.
The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.
As of 1 July 2021 as many as 5,218 foreign companies from 64 countries were accredited with the Belarusian Universal Commodity Exchange, 300 companies up from the beginning of the year. South Korea was the last country to be added to the list of trade partners.
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