Updated at 17:25,07-01-2021

Secret of Belarusian economic “miracle“ revealed

Deputy Foreign Minister Alexander Guryanov states that in January-May 2012, 80% of Belarusian export growth has been formed at the expense of oil, petroleum products and solvents.

"Recently we made a preliminary analysis of five months. Expected trade surplus in goods and services will amount to $3 billion. 80% growth in our exports is oil, petroleum products and solvents", said A.Guryanov, meeting in Minsk on Tuesday with Belarusian diplomats.

According to A.Guryanov, share of this position in total exports was 48% versus 31% in January-May 2011.

In his turn, Belarusian Ambassador to Russia Andrei Kobyakov has refused to comment the "Interfax-Zapad" news agency on the course of investigation which Russia conducts with regard to the causes of growth of the Belarusian export of solvents and diluents.

A.Guryanov noticed that in general the quantitative indicators of foreign economic activities the Foreign Ministry regards as satisfactory, but the qualitative structure of the Belarusian export was of some concern. "To a lesser degree the export diversification observed in the field of goods and services, and it makes us question where do we go further", said A.Guryanov.

He added, the Foreign Ministry sees great prospects for promotion of Belarusian goods to the markets of Asia and Latin America, however, he notes that virtually no new positions appear in deliveries of Belarusian products to the CIS countries and to African countries.