Companies from 23 countries buy Belarusian goods through BUCE

In 2024, residents of 23 countries purchase Belarusian-made products at stock exchanges, and the top five largest markets include Russia, China, Azerbaijan, Uzbekistan and Kazakhstan, together providing about 90 percent of export sales, sb.by reports with reference to the Belarusian Universal Commodity Exchange (BUCE)

The products of agriculture and the woodworking industry are in the greatest demand among the BUCE foreign customers. In particular, butter, skimmed milk powder and cheeses are actively supplied to Russia. China, Azerbaijan and Uzbekistan mainly import lumber, while Kazakhstan leads in purchases of Belarusian sugar. Rapeseed oil, beet pulp and molasses are traditionally in demand on the European market – primarily, in the Baltic States and Switzerland.

In January-February 2024, foreign participants in exchange trading concluded more than 1.5 thousand transactions for the purchase of Belarusian goods totalling $170m (in the same period of 2023, there were 155 transactions worth $14m).

“The indicators of exchange exports depend on a number of factors, but they are especially strongly influenced by the increase in the number of non-resident buyers, the opening of new markets and the introduction of additional commodity items. The high growth rates achieved in January-February are the result of the work done last year, including the attraction of small and medium-sized businesses from Russian regions to participate in the exchange auctions, the opening of a BUCE representative office in Shanghai, the expansion of the network of stockbrokers in Central Asian countries, the introduction of a mechanism for exchange-targeted transactions, and the intensification of co-operation with Belarusian diplomatic missions abroad. These events enabled us not only to significantly increase the exchange turnover in such key markets as Russia, China and Azerbaijan, but also to establish supplies of Belarusian products to South Korea, Mongolia and Hungary," BUCE spokesman Roman Yaniv commented.

As of March 1st, 2024, 3,703 companies from Russia, 167 from China, 116 from Kazakhstan, 108 from Uzbekistan and 100 from Azerbaijan were accredited at the Belarusian Universal Commodity Exchange.