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Trade and Investment cooperation between the Republic of Belarus and the Kingdom of the Netherlands

Over recent years, the Kingdom of the Netherlands has consistently been among the main trade, economic and credit investment partners of the Republic of Belarus.

In terms of trade volumes in 2020, the Netherlands took 8th place among all foreign trade partners of Belarus, in terms of exports – 9th place (after Russia, Ukraine, Great Britain, Germany, Poland, Lithuania, China and Kazakhstan), and in terms of imports – 8th place.

Trade in goods

The trade turnover between Belarus and the Netherlands amounted to USD 1074.5 million in 2020.

Belarusian exports of goods to the Netherlands equaled to USD 686.0 million. The main export items were as follows: oil and chemical products; metal products; polyamide and linen yarns; hand saws and blades for saws; timber products and furniture; tires and rubber products; casein; glass fiber; other industrial and agricultural products.

Belarusian imports of goods from Netherlands amounted to USD 388.5 million. The main import items were as follows: cut flowers; tractors and tractor units; vaccines and serum from the blood; bulbs, tubers and rhizomes; vegetables (tomatoes, onions, garlic, carrots, etc.) and fresh apples; other live plants; instruments and devices used in medicine; medicines; polyesters; liquid and air pumps; second-hand clothes; lubricating materials; insecticides, herbicides.

Trade in goods between Belarus and the Netherlands (2016 – 2020)
mln. US Dollars

 

2016

2017

2018

2019

2020

2020 to 2019 in %

Turnover

1136

1406

1752

1224

1075

87.9

Export

926

1106

1429

804

686

85.6

Import

210

300

323

420

389

92.5

Balance

716

806

1106

384

297

 

Trade in services

The volume of trade in services between Belarus and the Netherlands amounted to USD 176.5 million in 2020 (92.3% to 2019).

Belarusian exports of services to the Netherlands amounted to USD 126.9 million (99.4%). Among them, the major ones were transport, telecommunication, ICT, business, and financial services.

Belarusian imports of services from the Netherlands amounted to USD 49.6 million (78.0%). Among them, the major ones were transport, business, ICT, telecommunication and financial services.

Investment cooperation

In January-September 2020 the total amount of Dutch investments to the Belarusian economy reached USD 160.7 million (135.5% to January-September 2019). The amount of the Dutch FDI amounted to USD 147.3 million (248.0%). The Netherlands took 6th place among Belarus credit and investment partners after the Russian Federation, the United Kingdom, Cyprus, Ukraine and Lithuania.

As of January 1, 2020, there were 102 entities with the participation of the Dutch capital registered in Belarus (25 joint ventures and 77 foreign enterprises); the share of Dutch investors in the statutory funds of these organizations was USD 269.3 million. As of October 1, 2020, the total sum of cumulative foreign investments from the Netherlands in Belarus amounted to USD 1.1 billion (3th place after the Russian Federation and Cyprus). 17 representative offices of Dutch companies operate now in Belarus.

The main areas of activities of the joint and foreign enterprises established in Belarus with participation of the Dutch companies are agriculture and food processing, beer production, textiles and clothing, metal processing, pharmaceuticals, development of IT products, freight and logistics services, real estate and others.

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