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Trade and Investment Cooperation

The Embassy is aimed at developing bilateral trade and economic cooperation with Ireland.

Trade in goods between Belarus and Ireland in 2012-2017

 mln. US dollars

Period

Turnover

Export

Import

Balance

2012

48,2

4,3

43,9

-39,6

2013

47,6

3,8

43,8

-40,0

2014

53,8

13,5

40,2

-26,7

2015

40,7

9,7

31,0

-21,4

2016

40,2

6,9

33,3

-26,3

10 month 2017

30,0

5,6

24,4

-18,8

Growth, %

93,1

95,4

92,6

 


Major Belarus exports to Ireland include potash fertilizers, petroleum products, fiberglass, spare parts, computers.

The main Irish export positions were medicines, alcoholic beverages, food, cosmetics and hygiene products.

The volume of export of services to Ireland in 2016 reached 33.6 million US dollars, in January-October of 2017 — 32.98 million dollars. The growth of exports has been mainly driven by increase in the volume of computer services. In general, the service sector is becoming the dominant driver of the bilateral trade.

The volume of investments attracted by the end of 2016 from Ireland amounted to 1051.8 thousand dollars, including FDI — 962.5 thousand dollars (in 2015 — 426.6 and 173.1 thousand dollars, respectively). In January-September of 2017 FDI inflow from Ireland reached 2,935 thousand dollars.

Irish companies in the Republic of Belarus are successfully implementing investment projects in the field of renewable energy, agriculture and other areas.