In the inventory of the provisions of the Union Treaty, most attention is paid to the economy. At the moment, both Russia and the Republic of Belarus occupy a semi-peripheral position in the global economy. Both states are mainly exporters of minerals. The sizes of the economies of Russia and Belarus are significantly different, but their export structures are similar - the share of exports of minerals is growing, and the share of high-tech products, on the contrary, is falling.
Export and import of Belarus is more balanced than that of the Russian Federation. The republic buys fuel (oil and gas) from foreign countries, and exports potassium salts. However, with the launch of the Belarusian Nuclear Power Plant and a decrease in the gas share in electricity production, fuel imports should decrease markedly.
If we compare the difference between exports and imports of machinery and equipment of both countries and proceed from these indicators, the Belarusian economy is better developed and has fewer “distortions”. Belarusian exports of machinery and equipment are 4,5-7,2% lower than imports, while in Russia this gap is already tens of percent. Last year, the share of exports of machinery and equipment in Russia amounted to slightly more than 5%, and the share of imports - 44,5%.
However, if we consider the economies of Russia and Belarus as a whole, then Russia wins in terms of quantitative indicators of trade, and Belarus - in terms of quality. That is, the share of exports of manufactured products in Belarus is higher than that of Russia. The economies of the Russian Federation and Belarus complement each other and are parts of a single organism, which in their current form cannot function normally without each other.