Committee for Economy: The region's enterprises maintained goods exports at 106% in the first quarter

Despite the situation with the difficult epidemiological environment, the region's enterprises in the first quarter of this year managed to maintain the export of goods (excluding oil products) at the level of 106%.

This indicator, according to Konstantin Cherny, Deputy Chairman of the Committee of Economics of the Regional Executive Committee, was ensured by organizations that have a stable sales network abroad, diversify supplies to different regions of the world, sell finished products rather than raw semi-finished goods, use electronic sales systems, and are registered for foreign tenders.

Thus, the export of dairy and meat enterprises increased by 8 million dollars, with a growth rate of 120 percent.

For organizations without departmental subordination, there is an increase in the export of power cables, lubricant additives, finished metal structures for construction, trade equipment, finished joinery products, and parquet flooring. Mainly, goods produced by the region's enterprises were supplied to the EAEU countries (62 percent), the EU (24 percent), and other countries of the world (14 percent).

The share of high-tech goods in exports is 33 percent (in 2019 – 30 percent).

– The epidemiological situation negatively affected the export of services, especially transport, construction, tourism, health, and educational services, – emphasized Konstantin Eduardovich. – According to the results of the first quarter, it decreased by almost 30 percent. And this is not surprising, as this type of business largely depends on our foreign partners and can only develop after the economy resumes operations in the regions.

Net direct foreign investment in January-March amounted to 40.5 million dollars. The foundation was laid in 2019 through the modernization of existing and development of new production facilities: "Cylinders Bel" (cylinder production in Orsha), "KimaBel" and "Vitebsk Sawmill" (wood processing), "Nativita" and "Vic Animal Health" (veterinary drugs and pharmaceuticals), "Natrix", "Modern-Expo", "Belpoliplastik", Novopolotsk Metal Structures Plant (machine building), LLK-Naftan (lubricant production).

Due to the groundwork laid in 2019 regarding the design and development of funding sources, successful business plan defense, and the selection of the most competitive technology, 553.4 million rubles of investment in fixed assets were utilized in the Vitebsk region in January-March 2020 (a growth rate of 117.2 percent compared to January-March 2019).

Construction and installation works totaling 278.9 million rubles have been completed.

The calculations performed suggest that the growth of these indicators will continue through the first half of 2020.