Belarus Reports Record Trade Growth with Russia

Russia-Belarus Trade Set to Reach $60 Billion in 2024

Russia and Belarus are poised to see their bilateral trade volume reach up to $60 billion by the end of 2024, according to Vice Prime Minister of Russia, Alexei Overchuk, as reported by TASS.

Overchuk emphasized that the current bilateral trade has reached an unprecedented level. In 2023, the trade turnover between Russia and Belarus already hit $50 billion in monetary terms.

Looking ahead, Overchuk noted that this level is not the limit. He projected that the trade volume between the two countries could increase by several billion dollars this year. “According to some estimates—not ours—we could reach $60 billion in the current year,” summarized the Vice Prime Minister during his speech at the X International Scientific-Expert Forum “Primakov Readings.”

Belarus Reports Record Trade Growth with Russia

President Alexander Lukashenko of Belarus previously announced an increase in the country’s trade turnover with Russia to $54 billion in 2023. The head of state highlighted that this achievement marked a record level.

During the same period, Russian investments in the Belarusian economy totaled $5.1 billion, underscoring the deep economic ties between the two nations.