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Belarus’ foreign currency earnings down by 15 percent in first 11 months of 2013

Belarus’ foreign currency earnings in January-November 2013 totaled $39.9 billion, down $6,798.8 million, or almost 15 percent, from the same period of the previous year, according to government statistical data.

Foreign currency proceeds from exports of goods decreased by nearly $7.9 billion, or 20 percent, to total $32.54 billion, while foreign currency proceeds from exports of services rose by $870.8 million, 16.8 percent, to amount to $6.1 billion.

Proceeds from domestic sales for foreign currency increased by 6.3 percent year-on-year to total $632.5 million.

According to the National Statistical Committee (Belstat), exports of goods in January-November 2013 totaled $34,089.5 million, down more than $8.5 billion compared with the same period of 2012.

The economy ministry linked the sharp decrease in exports to a decline in external demand. “Difficulties in selling domestic products amid a contraction of major export markets and the displacement of Belarusian manufacturers of investment goods from traditional markets have led to low export figures this year,” the ministry said in a report in late 2013. //BelaPAN