Belarus’ Crucial Role for Russia: Dairy Farm: A Trade Data Monitor Column

With Belarus facing possible sanctions for helping Russia invade Ukraine, it’s worth taking a look at the country’s trade profile. Belarus has a gross domestic product of $62.5 billion, around one-tenth the size of its neighbor Poland. It mainly trades regionally, except for buying consumer products from China, and its small economy means sanctions won’t roil commodity markets in the way that action against fuel-rich Russia will, but the country of 9.4 million does play one crucial role in global trade: 8% of all of Belarus’ exports is cheese, milk and other dairy producs to Russia. Belarus exported $2.2 billion in dairy products to Russia, up 8.9%, in 2021. That accounted for roughly 75% of Russia’s dairy imports. Argentina and […]