Belarus GDP Q3 2018

Belarus

Belarus: Economy downshifts in Q3

December 31, 2018

According to a second release by the National Statistical Committee (Belstat), the economy cooled in the third quarter on the heels of robust gains in the second quarter. The headline reading came in at 2.2% year-on-year, down from the second quarter’s 3.9% increase and chiefly on the back of a slowdown in the domestic economy.

As the recovery approaches its two-year mark, the economy appears to have shifted into a lower gear amid ailing fixed investment and moderating consumption. Fixed investment eased and logged a 5.7% year-on-year increase (Q2: 7.0% year-on-year). Meanwhile, household spending came in at 7.1% growth annually, decelerating from a revised 8.3% a quarter earlier (previously reported: +10.3% yoy). Moreover, government spending contracted for another quarter although at a slower pace (Q3: -0.8% yoy, Q2: -1.6% yoy).

On the external front, exports accelerated marginally on an annual basis compared to the previous quarter (Q3: +2.4% yoy, Q2: +2.3% yoy) whereas imports rose 3.9%, having lost momentum from the second quarter (Q2: +5.9% yoy).

FocusEconomics Consensus Forecast panelists expect the economy to grow 2.9% in 2019, which is unchanged from last month’s forecast. In 2020, the panel sees GDP increasing 2.5%.


Author:, Economist

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Belarus GDP Q3 2018 0

Note: Year-on-year changes of GDP in %.
Source: National Statistical Committee of the Republic of Belarus and FocusEconomics Consensus


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