Belarus Industry January 2020

Belarus

Belarus: Industrial production slumps at sharpest rate in over four years in January

February 18, 2020

Industrial production fell 5.8% on an annual basis in January, swinging from the previous month’s 4.3% expansion and marking the sharpest contraction since November 2015 amid a broad-based downturn.

January’s contraction was chiefly driven by a downturn in the all-important manufacturing sector, where activity slipped into contractionary territory following a healthy increase in output at the end of last year. In a similar manner, mining and quarrying activity shrank in January, following a rebound in December, while the utilities supply sector continued contracting markedly at the outset of 2020. Lastly, the water supply sector expanded in January, albeit only moderately.

Meanwhile, annual average growth in industrial production slumped to an over three-year low of 0.4% in January, from 1.0% in December.

FocusEconomics panelists project that industrial production will expand 2.3% in 2020, which is down 0.1 percentage points from last month’s projection, and 2.2% in 2021.


Author:, Economist

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Belarus Industry January 20 20 0

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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