Belarus: Industrial output contracts again in November

Industrial output shrank by 2.6% year on year in November, up from October’s 4.1% contraction. November’s print marked the tenth consecutive decrease and indicates that the industrial sector is still suffering from the fallout of the Russia-Ukraine war.

Meanwhile, the trend worsened, with annual average industrial production falling 10.2% in November (October: -9.9%).

FocusEconomics panelists project that industrial production will decrease 1.8% in 2023, which is unchanged from last month’s projection. In 2024, industrial output is seen increasing 3.3%.