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25.4 thousand small
businesses operate in the country, of them in the trade and public catering —
46.6%, in the industry — 20.2%, in construction — 11.3%, in the transportation
sector — 5.4% and in the agricultural sector — 1.1%. Small businesses accounted
for 7.6% of the total output in the country. Small businesses employ 255.7
thousand persons. 189 thousand individual entrepreneurs were registered in
Belarus as of January 2004. The small-business sector totally employs 445
thousand persons in the country (10 % of the economically active population).
The share of the sector makes up 17.5% of the total allocations to the budget.
After gaining the
sovereignty, the Republic of Belarus remained one of the most economically
developed countries of the FSU. The 1992-1995 economic recession was followed
by production growth and political stability The active national economic
policy allowed for stabilization and some growth in specific sectors of the
economy in 1995. 1996 became a turnaround year. After an absolute drop, the GDP
started growing: in 1997-2003 the average annual growth rate amounted to 6.5%
and it is showing an upward trend. Compared to the neighbouring countries
(except Poland), the GDP reduced at a significantly lower rate during the
transformation period. Currently, the GDP per capita, purchasing power parity
and UN-calculated human development index are much more higher in Belarus that
in other CIS countries. Belarus is a large exporter of trucks, tractors, TV
sets, refrigerators, chemical yarn and fiber, potash fertilizers, textile and
consumer goods. The policy of strengthening economic relations pursued by
Belarus increases its role in the world division of labour throughout the
post-soviet regime territory. The export turnover per capita exceeds the
respective indicators of many CIS countries.
Belarus efficiently
collaborates with leading international agencies, namely, the European Bank for
Reconstruction and Development, World Bank, International Monetary Fund
assisting in promoting foreign entrepreneurship in the country. 2,415 companies
with foreign investment have been registered in Belarus as of 01.01.2002 (1,308
JVs and 1,107 foreign enterprises). They were established with involvement of
81 countries worldwide, predominantly with participation of partners from
Germany, Poland, USA, Italy, and the Netherlands. Of 2,415 registered joint
ventures and foreign enterprises 2,082 have been operable as of 01.01.2002, of
this number 40% in the industry, including 21% in machine-building, 18% in the
food and 20% in the wood-working industries. Over the recent years, such giants
as Coca Cola, Le Grand, Man, Macdonald’s, Bayer, Siemens and Moulinex and
others entered the Belarusian market. In 2003 Belarus economy (excluding
banking sector) draw USD 1.3 billion of FDI.
Since December 1992, the
Republic of Belarus has the status of the observer at the General Agreement on
Tariffs and Trade (GATT) and since 1 January 1995 — at the World Trade
Organization. Joining the WTO remains the priority target of the national
foreign economic policy currently being pursued. This policy is consistently
aimed at transforming the trade policy and harmonizing the tariff and nontariff
foreign trade activity regulation of the Republic of Belarus with the WTO
general principles and rules — openness of the economy, liberalization,
observance of conditions stipulated by trade and economic agreements.
Foreign trade relations of Belarus
are continuously expanding. It is noteworthy that Belarusian goods and services
trading volume amounted to USD 21,469 million in 2003 and increased 1.9 times
compared to the 1995 level. The exports increased by 92% and reached USD 9,964
million, import — by 92% amounting to USD 11,505 million. The CIS countries
account for 63% and non-CIS countries — for 37% of the total turnover,
including export — 55% and 35% and import — 70% and 30%, respectively. The
country is involved in foreign trade transactions with 152 countries worldwide.
Belarusian goods are supplied to the markets of 129 states, while products of
130 countries are imported. In 2003, the major trade partners of Belarus were
Russia — 58% of the total foreign trade turnover, Germany — 5.8%, Ukraine —
3.3%, Latvia — 1.8%, Poland — 3.6%, Lithuania — 2.0%, the United Kingdom —
4.7%, Italy — 1.9%, USA — 1.2%, the Netherlands — 2.4% and China —
1.1%.
The distribution of major
commodity flows in the foreign turnover of the Republic of Belarus throughout
the continents was as follows in 2003: Europe — over 90%, Asia — 4.8%, Northern
and Latin America — 3.6%, and Africa — 0.6%. Therefore, the Republic of Belarus
has most extensive foreign trade relations on the European continent.
Currently, the European Union ranks second important trade partner following
Russian Federation. The EU countries account for nearly 18% of the total
Belarusian turnover. It continues to increase due to specifically such
countries as Germany, Great Britain, France, Sweden and others. In 2003 exports
of goods to the United Kingdom accounted for 9,4%(938,3 mln. USD) of total
exports of the Republic of Belarus (9964 mln. USD). Import of goods to Belarus
from the UK in 2003 accounted for 79,3 mln. USD.