Foreign trade both in goods and services posted a surplus of USD133m in June, according to the preliminary figures reported by the central bank today. This is the first monthly surplus since January. On the downside, surplus had been bigger at USD362m a year earlier. Export decline slowed to 15% y/y in June from 19% in May, while import decline slowed only marginally, to 9% from 10%. In H1 2016, foreign trade posted a deficit of USD149m, compared to a USD783m surplus a year earlier, according to the report. That’s because the terms of trade worsened for Belarus this year.
The merchandise trade gap in particular narrowed to USD72m in June from USD207m in May. A year earlier, however, surplus had equaled USD169m. The services trade surplus almost doubled m/m to USD205m in June, roughly the same as a year earlier.