Mutual trade in Customs Union up 35.9% in 2011

20:38, 29 February 2012

MOSCOW. February 29. KAZINFORM In 2011 mutual trade among the countries of the Customs Union increased by 35.9% as against a year earlier and reached $62.3 billion, Trade Minister of the Eurasian Economic Commission (EEC) Andrei Slepnev said at a press conference in Moscow, BelTA reports.

Andrei Slepnev noted that the growth of mutual trade outpaces the growth of foreign trade of the Customs Union member states with third countries. Russia accounted for 65.2% of the mutual trade in the Customs Union, Belarus for 23%, Kazakhstan 11.8%, BelTA reports.
In 2011 mutual trade in the Customs Union accounted for 46.4% of Belarus' total foreign trade, 18.2% of Kazakhstan's foreign trade turnover and 7.5% of Russia's trade. Thus, Belarus looks like the country to be most oriented on the Customs Union market, Andrei Slepnev noted.

The Customs Union members were able to make their commodity pattern more diverse in mutual trade than in trade with third countries. For example, mineral resources account for 72.6% of the Customs Union export and only 41.1% in mutual trade. Machinery, equipment and transport vehicles account for 19% of mutual trade while their share in the deliveries outside the Customs Union makes up just 2.4% of the total export.

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