$ 500 million of investment and export growth by 3.7 times. Infographics on FEZ Grodnoinvest and the European Union
FEZ Grodnoinvest residents are actively developing relations with business of the EU countries, annually increasing commodity turnover and attracting investments in new projects. In 2018, Belarusian companies traded with 27 out of 28 EU member states and for the first time in many years formed positive balance, while foreign direct investment from the EU exceeded $ 500 million. Over recent years, companies with capital from Austria, Poland, Cyprus, Estonia, Latvia, Lithuania, the UK and the Netherlands became FEZ Grodnoinvest residents. Read more about the dynamics of cooperation with the EU in infographics.
Since 2002, companies from 17 countries of the European Union have invested $ 503 million in foreign investments in projects on the territory of FEZ Grodnoinvest. This is 54% of the total amount of FI in FEZ. Key investing countries are the Netherlands ($ 189 million), Cyprus (119) and Poland (114). The global companies Kronospan, IKEA, Szynakameble, Fey & Co, Volkswagen, Haver & Boecker, Mispol, Atlas, PCC, Arvi, Sodrugestvo, etc. are actively working in FEZ Grodnoinvest.
Considering credit lines from the EU countries, $ 875 million or 70% of the total volume in FEZ Grodnoinvest was attracted. Germany (284.5 million US dollars) took the leading position, as well as the Netherlands (196.4), Poland (138.6) and Cyprus (123.1).
The trade turnover of FEZ residents with EU countries amounted to $ 321.6 million dollars or 23% of the total volume. The growth rate equaled to 108% compared to 2017, the trade balance was formed with proficit of $ 16 million against a deficit of $ 48 million a year earlier.
Key trading partners were Poland ($ 187 million), Germany (31.3), Italy (23), Lithuania (17.8), and Great Britain (10.7). At the same time, over the past five years, the top 5 countries have changed only slightly - Great Britain replaced Austria. Commodity turnover has grown many times with Bulgaria, Great Britain, Ireland, Spain, Latvia, Poland, Portugal and Croatia.
In 2018, the growth rate of Belarusian export to the EU amounted to 135% compared to 2017. In total, FEZ residents delivered products worth $ 169 million to 22 countries of the European Union. For comparison, in 2014, it was only to 15 countries.
Over five years, the export of FEZ residents has grown by 3.7 times. The share of the EU countries in total export volume over a five-year period increased from 9.1 to 19.5%. The key importers of Belarusian products were Poland ($ 116 million), Lithuania (12.9), Great Britain (9.3), Germany (5.3), Latvia (4.4). These countries account for 87% of total export to the EU.
Import in 2018 amounted to $ 152.5 million, which is 12% less than in 2017 and 45% than in 2014. Companies from Poland (70.6), Germany (25.9) and Italy (22.1) deliver most of the products to the FEZ Grodnoinvest residents. They form 78% of all import.