Belarus: Industrial output contracts again in September

Industrial output shrank by 2.1% year on year in September, up from August’s 9.4% contraction. September’s print marked the second consecutive improvement and the smallest decline since February. That said, the sector is still in poor shape compared the period prior to the Russia-Ukraine war.

Meanwhile, the trend pointed down, with annual average industrial production falling 9.9% in September (August: -9.5%).

FocusEconomics panelists project that industrial production will decrease 1.5% in 2023, which is up 3 percentage points from last month’s projection. In 2024, industrial output is seen increasing 3.5%.