Belarus’ revenues from export trade in oil products and potash fertilizers dropped by $1.7 billion in January-May due to low prices, Belarusian Prime Minister Andrei Kobyakov said.
Although Belarus increased exports in physical terms, export revenues fell by 1.1% YoY, said Kobyakov. According to him, the only way for Belarus to compensate for missing revenues is to increase exports in quantitative terms, as the country needs foreign currency.
Belarus produced a foreign trade deficit of 0.7% of GDP in H1 2016, while a 0.2% surplus was expected, the premier said. (Prime-TASS/Business World Magazine)
