Русский
Trade between Russia and Belarus has increased by 12.5% since the beginning of 2026, according to the Russian president, Vladimir Putin. He was speaking at meetings with the Belarusian President Alexander Lukashenko on Saturday (August 29) at Putin’s residence in Novo-Ogaryovo outside Moscow.
Putin stated that “Our main area of cooperation—trade and economic ties—is developing successfully. Despite all attempts from outside to somehow influence this, according to our statistics, trade turnover amounted to almost US$52 billion last year. That is a good result. And in the first six months of this year, it grew by another 12.5%.”
Putin noted that direct investment from Russia into Belarus has reached US$4.5 billion, with over 2,500 Russian-capitalized companies operating in the country.
Belarus’s economy is diverse, with major industries including chemical and petrochemical production, which is crucial for exports; mechanical engineering and machinery, focusing on heavy machinery and automotive products; metallurgy; and agriculture, particularly dairy, meat, flax, and grain-based products. The government is actively promoting growth in sectors like microelectronics, with plans for expansion through 2030, and is bolstering the automotive industry, notably at the BelGee plant, which produced nearly 68,000 cars last year, primarily for the Russian market.
As a member of the CIS Free Trade Area, Belarus also engages in free trade with Kazakhstan, Kyrgyzstan, and Armenia. It is also part of the Eurasian Economic Union (EAEU), which provides access to a common market with Russia, Kazakhstan, Armenia, and Kyrgyzstan. The EAEU has free trade agreements with Vietnam and similar agreements with Iran, Serbia, and Singapore. Recently, Belarus signed a free trade agreement with China focusing on services and investment, enhancing its economic partnerships.
With a population of approximately 9.06 million, the country has a GDP (PPP) of around US$322 billion and a GDP (PPP) per capita of approximately US$35,616, according to the IMF. The 2026 projected GDP growth is 2.1%
Russia-Belarus Bilateral Trade
Russian Exports To Belarus
Russia’s top exports to Belarus mainly consist of crude petroleum, natural gas, refined oil products, cars, and raw industrial materials like scrap iron. Crude petroleum and natural gas make up the largest share by financial value. Russia also exports cars and automotive parts and industrial goods. Agricultural products, including cheese and milk, have also seen steady shipments under bilateral agricultural cooperation
Belarus Exports to Russia
Refined oil products make up roughly 33% of Belarus’ total exports to Russia, including shipments of gasoline and diesel, which have surged significantly due to regional fuel adjustments, refinery demands, and Ukrainian attacks of Russian refineries. Belarus also exports machinery and heavy industrial items, including heavy trucks, tractors, and specialized mining and quarrying vehicles. Fertilizers and industrial chemicals remain core revenue generators, while agricultural exports include cheese, butter, milk products, and meat. Belarus exported US$23.75 billion in goods to Russia and other Commonwealth of Independent States (CIS) partners during the first half of 2026.
The bilateral trade relationship with Russia has shown significant growth, with trade turnover increasing from US$40.1 billion in 2021 to an expected US$65 billion in 2026. That is a total growth rate of 62.5% over the past five years and an average annual growth rate of 12.5%.
