BelAZ Persha 2022-2023.
As you know, the sanctions pressure combined with the disruption of supply chains dealt a serious blow to the Russian automotive industry.
Following this, the Belarusian automotive industry was also severely affected. The point is that the main sales market for local companies was Russia and a number of CIS countries.
That is, the Belarusian automotive industry is highly dependent on the export volumes.
BelAZ, which produces a huge amount of special-purpose machinery and large dump trucks, exports about 95% of its production.
Some part of them, about 65% is exported to Russia, but due to the difficult economic situation in our country, the purchase of various equipment from the Belarusian company has been suspended.
Thus, BelAZ, which fell under European sanctions last year, lost part of its suppliers of components and reduced revenues by 8 times, is now experiencing just tremendous difficulties.