Belarus enjoys record trade balance

As noted by Deputy Economy Minister Dmitry Yaroshevich in his talk with the MIR 24 TV channel, Belarus registers record volumes of trade balance, BelTA reports

Mr. Yaroshevich noted that the withdrawal of a number of foreign companies from the Russian and Belarusian markets opens up niches for domestic enterprises. “This is actually a very strange decision – for me as an economist. Take, for example, light industry companies. We should understand that such goods are less often produced in Europe – but mostly in China, Bangladesh, Indonesia and also Belarus. Business processes of such companies rely on marketing tools – such as branding and formation of an image of a high-quality product. Meanwhile, the quality of Belarusian products is not worse, but it is even better in some aspects. That is why this is a real opportunity for our companies," he said.

According to Mr. Yaroshevich, as soon as unprecedented pressure was recognised, the Government made a decision to set up an operational and situational headquarters. “The information it receives deals with our industrial flagships. We are non-stop monitoring their parameters – such as output volume, employment, load levels, and so on. Based on the data we obtain, we see that the enterprises are working, while market surveys show that they have orders for 3-4 months to come. Accordingly, they will trade – and this is the key. We enjoy record trade balance volumes – selling more than buying. This has become possible due to the promptness of our companies, which took advantage of the shortage of components and finished products in the world," Belarus’ Deputy Economy Minister stressed.