Lithuania-Belarusian business – cooperation and prosperity

Lithuania-Belarusian business – cooperation and prosperity

Trade between Lithuania and Belarus

The Belarusian-Lithuanian economic relations are rapidly developing forthe last years. According to the Ministry of Finance of Belarus, trade volume between Lithuania and Belarus in 2012 increased by 34,6 % and it is predicted to be increased in 2013. In absolute terms, the trade amounted to 1556,3 million dollars and export of products from Lithuania increased on 25%, import in Lithuania – on 37,9%. By the end of 2012 Lithuania took the 8th place in Belarus on the size of goods circulation, the 6th place on the scale of exports from Belarus, and the 12th place – on the scale of imports. The table is given below:

Dynamic of goods and services’ export-import between Lithuania and Belarus from 2006 to 2012

Lithuania Belarus business

Global financial crisis significantly affected the Lithuanian-Belarus economic relations. Since 2006 there was a slight growth of the positive balance of trade in Belarus, but in 2009 the decline of trade balance was at its maximum. Although the trade balance is still positive, however, in comparison to the previous year, it was 2,3 times decreased. The year 2010 was positive in the Lithuanian-Belarus economic relations, but the temp of growth remained slow. In 2011 and 2012 the balance of trade grew very rapidly (respectively on 177 % and 45 %).

The structure of Lithuanian import from Belarus is following: 60 % – intermediate goods, 17-20% – the export of raw materials, 20-23% – finished goods, foodstuff and consumer goods.

Cooperation between Lithuania and Belarus about investment sphere will be analyzed in the following articles.