Belarus Industry June 2021

Belarus

Belarus: Industrial output records slowest expansion since December 2020 in June, due to a less favorable base effect

July 16, 2021

Industrial production expanded 6.9% year-on-year in June (May: +11.5% yoy). The figure marked the worst reading since December 2020, albeit due to the loss of a more favorable base effect. In fact, sequential dynamics suggest upbeat industrial activity, with a strong manufacturing sub-sector leading the print for monthly growth. In addition, all other subsectors rose in annual terms, with the mining and quarrying subsector marking the slowest pace and electricity and utilities leading the annual expansion, likely supported by the Astravets nuclear power plant, which was put into commercial operation from 10 June.

Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 6.1% in June, up from May's 5.6% reading.

FocusEconomics panelists project that industrial production will increase 2.7% in 2021, which is unchanged from last month’s projection. In 2022, industrial output is seen increasing 3.5%.


Author:, Junior Economist

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Belarus Industry June 2021

Note: Year-on-year changes of working-day adjusted and annual average variation of industrial production index in %.
Source: National Statistical Committee of the Republic of Belarus (BELSTAT) and FocusEconomics calculations.


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