Trade between Belarus and Venezuela has fallen 50 times over two years

In two years, the trade turnover between Belarus and Venezuela has decreased by 50 times. According to official statistics, in 2014 we traded with the Bolivarian Republic for $99.7 million. In 2016, this figure fell to $2 million, and Venezuela did not supply anything to Belarus at all.

Last year, Belarus stopped trading potash fertilizers, internal combustion engines, lifts and loaders, road and construction equipment, spare parts for cars and tractors, varnishes and paints, putties, putties and other building materials, textiles with Venezuela.

But it sold 217 tons of ferrous metal structures for $302.4 thousand.

This year, the situation looks a little better - for 6 months Belarus has exported goods worth $4.7 million to Venezuela. These are oil products, wheat flour, and spirits. Deliveries from Venezuela to Belarus are still zero. The country is experiencing a serious economic crisis that began with the fall in world oil prices . Riots are taking place on the streets of Caracas, once opposition supporters even made an attempt to storm the country's parliament.

Against this background, Venezuelan President Nicolas Maduro is coming to Belarus on an official visit on October 5. First, he will meet with Alexander Lukashenko in a one-on-one format, then negotiations will be held in an expanded format. The main topic for discussion will be trade and economic cooperation, joint production opened with the help of Belarus in South America, as well as cooperation in agriculture, construction and oil and gas sectors.