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Belarus Failed On Both Western And Eastern Markets

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Belarus Failed On Both Western And Eastern Markets
Lev Margolin
Photo from nwfdailynews.com

Turnover in the foreign markets fell by nearly a third.

The official statistics on foreign trade of Belarus for 11 months of 2015 demonstrates: the country is losing sales markets both in the West and in the East, Radio Svaboda informs.

The drop in the sales in the European Union markets is 28.9%, in the Eurasian Economic Union markers - 27.0%, compared to the similar period in 2014 respectively.

“The main reason of falling profit in the West is drop of prices for oil products, which we sell there, - explains economist Lev Margolin. – This is our main export to the EU. Fall of profit in the countries of the Eurasian Economic Union is caused by a crisis in these countries. All of them experience economic decline to some extend. When the EEU was established, Putin, Nazarbayev and Lukashenka promised golden mountains to their peoples. But in reality we see right the opposite. Decline in the sales occurs not only in trade with Russia (by 30%), but also in the markets of all the other partners within this Union: in the markets of Kazakhstan – by 18%, of Kyrgyzstan - 49% and of Armenia - 5%. So there are no advantages promised by the rulers.”

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