Does Belarus trade with Russia?

Does Belarus trade with Russia?

Traditionally, Russia is both our key trade partner and a major export market for Belarusian manufactures. In 2021, the mutual trade amounted to $ 40.1 billion, with exports to Russia reaching $ 16.4 billion and imports from Russia — $ 23.7 billion. Russia accounts for 49 percent of the Belarusian foreign trade.

Is there free trade in Russia?

Commonwealth of Independent States Free Trade Area (CISFTA) is a free-trade area between Russia, Ukraine, Belarus, Uzbekistan, Moldova, Armenia, Kyrgyzstan, Kazakhstan and Tajikistan.

Is Russia in EFTA?

EFTA meets with Russia, Belarus and Kazakhstan for third round of free trade negotiations.

Is CIS a free trade area?

The CIS free trade area The free trade agreement eliminates export and import duties on a number of goods. An agreement also focuses on such points as the basic principles of currency regulation and currency controls in the CIS.

Who is Belarus largest trading partner?

Russia
The main trade partner of Belarus is Russia. In H1 2019 it accounted for 40.3 percent of total export and about 55.6 percent of import. The European Union is the second largest trade partner.

What does Russia export to Belarus?

The main products that Russia exported to Belarus are Crude Petroleum ($3.52B), Petroleum Gas ($2.31B), and Cars ($373M). During the last 23 years the exports of Russia to Belarus have increased at an annualized rate of 9.5%, from $1.96B in 1997 to $15.8B in 2020.

What is Russia’s biggest export?

Crude oil
Crude oil is Russia’s biggest export, accounting for $123 billion of its export revenues, data for 2019 shows. Next on the list are refined petroleum – things like petrol and diesel – at $66.2 billion, gas at $26.3 billion and coal at $17.6 billion.

Is EFTA rich or poor?

A relatively quick recovery The four countries which make up the European Free Trade Association (EFTA) are among the wealthiest in the world. Liechtenstein has a strong banking sector and successful companies in machinery and the construction business.

Who has trade agreements with Russia?

On October 18, 2011, eight countries (Russia, Belarus, Ukraine, Moldova, Tajikistan, Armenia, Kazakhstan, and Kyrgyzstan) from the Commonwealth of Independent States (CIS) signed and then in the following years ratified a Free Trade Agreement (FTA), which provides the free movement of goods within the territory of the …

Is Ukraine still a member of the CIS?

Ukraine became an associate member of the CIS Economic Union in April 1994, and Turkmenistan became an associate member of the CIS in August 2005. Georgia left the CIS altogether in 2009 and Ukraine stopped participating in 2018.

Is Ukraine a Commonwealth country?

In the adopted Declaration the participants of the Commonwealth declared their interaction on the basis of sovereign equality. At present the CIS unites: Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine.

How does Belarus make money?

The main branches of industry produce tractors and trucks, earth movers for use in construction and mining, metal-cutting machine tools, agricultural equipment, motorcycles, chemicals, fertilizer, textiles, and consumer goods. The chief trading partners are Russia, Ukraine, Poland, and Germany.

Is Belarus an ally of Russia?

The two countries share a land border and constitute the supranational Union State. Several treaties have been concluded between the two nations bilaterally. Russia is Belarus’ largest and most important economic and political partner.

Who does Belarus trade with?

The major trading partners are the Russian Federation, Ukraine, China, Germany, Poland, the United Kingdom of Great Britain and Northern Ireland, Lithuania, the Netherlands, Kazakhstan, Turkey and Italy. Regionally, 44.2% of Belarusian commodity exports accrue to the EAEU countries.