Belarus GDP Q1 2019


Belarus: Growth slows to a near two-year-low in Q1

April 16, 2019

A preliminary estimate confirmed weak momentum from the second half of 2018 carried over into this year. According to the National Statistical Committee (Belstat), GDP grew 1.1% on an annual basis in the first quarter, decelerating from Q4’s 1.3% reading and marking the slowest expansion since Q1 2017.

Although a detailed breakdown of the drivers is not yet available, faltering domestic activity appeared to have weighed on growth. Slower retail sales and rising inflation in January-February point to a slowdown in household spending. Furthermore, agricultural output contracted in Q1, while industrial production expanded at the slowest pace in two years in February. As for the external sector, exports contracted for a second consecutive month in January in year-on-year terms.

FocusEconomics Consensus Forecast panelists expect the economy to grow 2.5% in 2019, which is up 0.4 percentage points from last month’s projection. For 2020, the panel sees GDP increasing 2.0%.

Author:, Economist

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Belarus GDP Chart

Belarus GDP Q1  2019 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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