DEVELOPMENT OF EXPORTS AS AN IMPORTANT FACTOR FOR ECONOMIC GROWTH

Abstract

The objective of this article is to describe and demonstrate how an export development strategy promotes a country’s development. It lists the aspects where the Republic of Belarus should focus efforts to strengthen and increase exports. The most significant derived indicators of the export policy, purposes and tasks of the export strategy of the Republic of Belarus and principles for the development of exports in Belarus are described. The article includes basic guidelines regarding the state’s economic policy objectives to be determined by Belarus’ export capacity development strategy. A number of reasons are given to substantiate a crucial role of exports in the economic system of the Republic of Belarus. Building up exports needs systemic economic and financial transformations, including mutual efforts by manufacturers and government authorities in this field; therefore the article specifies prospective areas of activity. Positive and critical issues in the development of the existing export potential have been assessed, and specific export potential elements have been highlighted. Some necessary systemic economic and financial transformations needed for the country’s potential have been identified. Principles are listed that imply the mobilization of internal and external factors and their most efficient use to ensure steady economic growth.