The balance of foreign trade in goods and services of Belarus in August 2024 was positive in the amount of $259 million. The corresponding data was published on the National Bank website.
The balance of goods in August 2024 is reported to be -106.4 million dollars, which is significantly better than the monthly average for January-July 2024 (-279.3 million dollars). At the same time, the balance of foreign trade in services continued to grow, reaching 365.2 million dollars in August.
In addition, as reported by the National Bank of Belarus, in the last five months “there has been a tendency to accelerate the growth rate of exports of goods and services, which contributed to achieving a positive balance in goods and services, which amounted to 184 million dollars in January-August 2024.”
In general, in January-August of this year the turnover of foreign trade in goods and services increased by 4.7% to 64.7 billion dollars. The balance of foreign trade in goods in January-August was negative in the amount of -2.06 billion dollars. Exports of services during the reporting period exceeded the growth rate of their imports, which made it possible to form a positive balance in services in the amount of 2.25 billion dollars.
Recall that Belarus has been under strict sanctions by Western countries since 2020. Despite this, the republican authorities say that the country’s economy has managed to adapt to the negative consequences of the anti-Belarusian policies of the EU, the United States and its allies.
