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Leu Marholin: Power Shouldn’t Expect Breakthrough In Trading With EU

Leu Marholin: Power Shouldn’t Expect Breakthrough In Trading With EU
Leu Marholin

Belarus' revenue from abroad continues to decline.

The reduction of foreign exchange earnings from Belarus’ exports to the European Union has become a stable trend. The year 2016 has only proved that. According to the National Statistics Committee, in seven months, the amount of revenues from exports to the EU decreased by 31.9% to 3 billion 681.5 million dollars.

What is the reason for such a long going revenue reduction in trading with the EU, is it possible to transform the situation into a plus, and can such a dynamic lead to isolationism?

According to the economist Leu Marholin, the main reasons for the reduction in revenue are the decline in oil prices and potash fertilizers, and we can hardly regain the export receipts, writes ucpb.org site.

“Our main export positions, as we know, are the oil products and potash fertilizers, – Leu Marholin said. – The oil price has fallen, respectively, it drops the price of oil-products. The same story is with mineral fertilizers. Therefore, despite the growth of exports in many positions, the volume of it in monetary terms has reduced. Since the prices of oil and oil-products are not likely to increase significantly, we can’t count on them. If prices fall, even the increase in volume is unable to compensate for this decline.”

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