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Trade and Investment Cooperation

Britain is one of the leading economic partners of the Republic of Belarus. As for export of Belarusian goods, the United Kingdom has been steadily taking third place after the Russian Federation and Ukraine for several years.

Trade in goods between Belarus and the UK in 2012-2017

 mln. US dollars

Period

Turnover

Export

Import

Balance

2012

927.4

569.5

357.9

211.6

2013

1 428.8

1 027.9

400.9

627.0

2014

3 253.1

2 928.8

324.3

2 605.5

2015

3 157.5

2 981.3

176.2

2 805.1

2016

1 242.1

1 083.2

158.9

924.3

2017

2 656.6

2 407.3 249.3 2 158.0

2017/2016 Growth, %

214.4 223.0 156.4

 

The leading positions of exports from Belarus to the UK are: petroleum products, coal tar distillate products, bitum, building bars, potash and nitrogen fertilizers, fiberboards and woodworking, furniture, raw lead, women's outerwear, binoculars and monoculars, X-ray equipment.

Leading positions of imports from Great Britain to Belarus are: engines, supplied for the assembly of Belarusian engineering and auto industry, air pumps, road and building machinery, herbicides, chemical compounds, polymers and lubricants, pharmaceutics, frozen fish, food, strong spirits, medical equipment.

The total volume of export of services to the UK in 2017 reached $ 214.9 million (in 2016 — $ 201 million). Among services exported — transport, computer, business and tourism services. Belarusian companies have been developing software solutions for such large customers as BP, British Telecom, Barclays, and the London Stock Exchange.

The volume of FDI attracted from Great Britain to the Republic of Belarus in 2017 amounted to $ 2 569.1 million (2016 — $ 1 464 million). The United Kingdom ranks second (after the Russian Federation) with a share of 26.6 per cent in the total volume of foreign direct investment attracted to Belarus.