Page 11 - BELRptJune18

5.0 External Sector & Trade 5.1 External sector overview
Belarus merchandise trade deficit stood at $527.5mn in January-March,
according to the National Bank of Belarus (NBB). Merchandise exports surged by 26.3% year-on-year to $16.1bn, while exports of goods went up by 26.9% y/y to $7.8mn, with imports up 25.7% y/y to $8.3bn. The nation's exports are recovering thanks to the ongoing recovery in neighbouring Russia, Belarus' main trade partner. The country's GDP grew by 5.6% y/y in January-February, following a 4.6% y/y growth in January.
5.2 Balance of payments, current account
Belarus -Trade 2011 2012 2013 2014 2015 2016 Jan-Nov 2017
Trade: External balance on goods and -645 2,935 -2,378 -606 60 -44 391 services (USD mn)
Trade: External balance on goods and -1.04 4.47 -3.15 -0.77 0.11 -0.09 / services (% of GDP)
Trade: Goods exports (BoP) (USD mn) 40,928 45,574 36,540 35,423 26,164 23,100 25,876
Trade: Goods imports (BoP) (USD mn) 44,394 45,009 41,134 38,334 28,307 25,611 28,213
Trade: Current account balance (USD mn) -5,053 -1,862 -7,567 -5,228 -1,831 -1,675 -347 (Jan-Sep)
Trade: Current account to GDP (%)
-8.2 -2.8 -10.0 -6.6 -3.2 -3.5 -5.3
11 BELARUS Country Report June 2018 www.intellinews.com