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Economic Cooperation

Since early 2000s, the United States has been one of the leading trade partners of Belarus, ranking from 5th to 6th in terms of trade turnover with the countries outside the Commonwealth of Independent States. In 2007, bilateral trade turnover reached the highest level of $740.8 million. However, following the imposition by the U.S. authorities of economic sanctions against the “Belneftekhim” concern, the flow of Belarusian exports was redirected from the U.S. market to markets of other countries.

In 2013, the U.S. lifted sanctions against “Beltechexport” and “BelOMO”. At the same time, the United States continued to pursue sanctions policy toward some other Belarusian enterprises. In recent years the tendency of gradual revival of bilateral trade with the U.S. has taken shape: the volume of BelarusU.S. trade turnover totaled $675.7 million in 2013, Belarusian exports have grown by 25.2 percent and reached $89.1 million.

Belarus’s exports to the U.S. include metal products, flax fabric, X-ray equipment, optical products, woodworking articles, foodstuffs. For Belarus, the United States stays a major supplier of internal combustion engines, automobiles and trucks, medical equipment and medicine.

Foreign Trade between Belarus and the U.S. (US$, million):

 

Trade turnover

Exports

Imports

Balance

2009

471,3

41,4

429,9

- 385,5

2010

494,7

72,9

421,8

- 348,9

2011

642,7

86,1

556,6

- 470,5

2012

705,3

71,3

634,0

-562,7

2013

675,7

89,1

586,6

- 445,6

2013 to 2012 (percent)

95,8

125,2

92,5

- 497,5

The United States is one of the leading investors in Belarus. In 2013, U.S. foreign investment to Belarus made up $168.2 million (up 21.5 percent from 2012), including $127.6 million in direct investment (an 18.6 percent increase from 2012).

As of January 1, 2014, there were 382 companies with part or full U.S. ownership registered in Belarus. Representative offices of well-known U.S. companies, such as EPAM Systems, Exadel, Microsoft, HP, Culligan, Coca-Cola and McDonald’s successfully operate in Belarus. A number of American high-tech companies are registered as residents of the Belarusian Hi-Tech Park and have their representative offices in Belarus. In 2013, the leading U.S. automaker General Motors made a decision to launch vehicle assembly in Belarus

In 2013, Belarus’s exports in services to the U.S. equaled $235.9 million (up 22.2 percent from the previous year); the U.S. imports in services to Belarus totaled 60.2 million (an 10.2 percent increase from 2012). In the total services turnover with the U.S., computer services have the largest share, and it keeps growing. Most of those computer services were provided by Belarusian Hi-Tech Park residents.