Republic

Residents of Belarus’ free economic zones increase production by 21.1% in 2007

In 2007, residents of the Belarusian free economic zones (FEZ) produced products and services at the amount of Br3, 719 trillion, or 21.1% up as against 2006, BelTA learnt in the Ministry of Statistics and Analysis of Belarus. According to the Ministry of Statistics and Analysis, the profitability of sold goods stood at 12.9% in the period under review. The total revenues of FEZ residents soared by 16.9% as against 2006, the tax payments grew by 9.8%. Along with that the share of loss making companies in free economic zones is still high – 19.1%. The nominal wages of free economic zones’ employees in 2007 totaled Br731, 000 a month. Some 4, 542 people were employed in the period under review. As of January 1, 2008 FEZ residents (but for banks) accumulated $288, 7 million foreign investments, of them 20.9% was received as contributions to statutory funds. Free economic zones Brest and Minsk are leading among other free economic zones in attracting investments with ($101, 5 million and $88, 7 million respectively). They are followed by FEZ Gomel-Raton ($31, 9 million), FEZ Mogilev ($22, 9 million), FEZ Vitebsk ($24, 1 million) and FEZ Grodnoinvest ($19, 6 million). In 2007, exports of FEZ residents totaled $998, 7 million with $882, 8 million worth of goods sold to the CIS member states (88.4% of the total exports). Exports to the Russian Federation made up $776, 9 million (77.8% of the total). The greatest share of FEZ exports belongs to furniture (16.5%), plastic goods (10.6%), tinned fish and other fish products (9.5%), sausages (5.1%), metal ware (4.9%). Imports of FEZ residents in the period under review totaled $947, 5 million. Imports from the CIS countries stood at $759 million or 80.1% of the total. As of January 1, 2008, there were 260 companies registered in Belarusian free economic zones.