Foreign trade relations between the Smolensk region and the Republic of Belarus: main trends and prospects

Aim. To assess the dynamics and prospects for the development of foreign trade interaction between the Smolensk region and the Republic of Belarus.

Methodology. The Smolensk region as a border region and an important trade bridge between Russia and European countries has significant advantages for the development of foreign trade due to its favorable economic and geographical position (EGP). On the basis of the official data collected by the author comprehensive analysis of the foreign trade of the Smolensk region was carried out. Using mathematical and statistical methods the key trends in the dynamics of the cost volumes of exports and imports of the region were determined, as well as the shifts in the geographical and commodity structure together with the main features of trade with the Republic of Belarus.

Results. The dynamics of foreign trade indicators of the Smolensk region over the past 15 years shows the outpacing growth rates of imported goods over export. Against the background of the sanctions imposed on the Russian Federation and the unfavorable foreign trade situation the geographical transformation of the foreign trade of the Smolensk region is taking place in the direction of enhancing relations with the CIS countries and, above all, with the Republic of Belarus. The commodity export structure of the Smolensk region is determined by the sectoral structure of the region’s economy, but the commodity import structure largely correlates with the commodity structure of Belarus export to Russia.

Research implications. The author has developed recommendations for the development of foreign trade cooperation between the Smolensk region and the Republic of Belarus against the background of aggressive anti-Russian sanctions.

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