Belarus forex earnings 8.5% up to $50.6bn in 2012
2013-01-28 12:33:55
In 2012 Belarus received $50.64 billion in foreign currency earned by the export of commodities and services, proceeds and transfers, up by 8.5% compared to 2011, reads the statistics report released by the National Bank of the Republic of Belarus.
Forex proceeds from the CIS states went up 9.6% to $21.61 billion, with forex proceeds from Russia 10.7% up to $17.29 billion. Foreign currency proceeds from non-CIS states rose by 7.6% to $29 billion.
In 2012 Belarus’ payments to non-residents for the import of commodities and services, proceeds and transfers made up $47.42 billion, up by 5.7% compared to 2011. Payments to CIS residents totaled $31.07 billion, 8% up from 2011. As much as $28.78 billion was transferred to Russia, 7.3% up. Payments to non-CIS residents totaled $16.34 billion, 1.4% up from 2011.
Apart from that, in 2012 Belarus transferred $3.85 billion in customs duties on the oil products, which had been made out of Russian oil and exported to third countries.
Thus, in 2012 Belarus’ deficit of the external payments involved in the export and import of commodities and services, proceeds and transfers of non-financial enterprises and households amounted to $628.4 million taking into account the export duties on oil products transferred to Russia’s state budget. Without the export duties paid to the Russian budget the surplus of Belarus’ external payments, which are not related to the movement of financial assets, amounted to $3.2 billion in 2012.