OREANDA-NEWS. February 27, 2012. To ensure economic stability in 2012, Belarus is supposed to produce a foreign trade surplus of at least USD 1.3-1.5 billion, Finance Minister Andrei Kharkovets told a board meeting on Wednesday.

Whether Belarus can meet the challenge depends on the ability of Belarusian-made products to compete on foreign markets, the minister said. However, with low labour productivity and a high proportion of imported materials makes Belarusian-made products less competitive even on traditional markets, the finance minister said.

As previously reported, Belarusian foreign trade deficit amounted to USD 2.182 billion in 2011, compared to USD 7.455 billion in January-December 2010, shrinking by 70.7%.

Overall turnover of commodities and services reached USD 94.435 billion in January-December 2011, up 40.4% on the year.

Exports of commodities and services rose 54.2% to USD 46.126 billion, and imports increased 29.3% to USD 48.309 billion.