Belarus ranks 108th in the ranking of Spanish export destinations and 62nd in the world ranking. In 2020 the Pandemic halted the upward trend that Spanish exports to Belarus have been recording since 2016, reaching €92.5m compared to the €108.16m recorded in 2019, a fall of 14.4%, but still above the €87.25m of 2018. The latest available data, the cumulative figure for January to March 2021, is €24.4m
In contrast, the sharp fluctuations that characterised Spanish imports from Belarus turned into a sharp increase in 2019 thanks to the start of large-scale exports of fuels. Thus, in 2020 they increased again thanks mainly to this item, reaching a total of 39.4 M€, 16.9% higher than the figure for 2019 (33.7 M€), which in turn recorded an increase of more than 30% compared to 2018 (25.8 M€). The latest figures available, for the cumulative amount between January and March 2021, confirm this trend by reaching €25.4m, i.e. in three months, the amount of the entire year 2018 has practically been reached.
Thus, Spain's recent imports of Belarusian oil have changed the balance of our bilateral trade balance, traditionally positive but now negative: +61.45 M€ in 2018, +74.46 M€ in 2019 and +53.1 M€ in 2020, but -1 M€ in the first quarter of 2021. The number of regular Spanish exporters to Belarus has increased despite the pandemic, from 234 in 2018 to 242 in 2019 and 285 in 2020.