Current Account in Belarus
Belarus - Current Account
The economy seems to have lost ground in the second quarter, with the end of preferentially cheap energy imports from Russia restraining activity. Merchandise exports fell more sharply in Q2 amid challenging external conditions, while the decline in imports softened. Moreover, agricultural production swung to contraction in the period. On the upside, retail sales growth was up in the quarter, signaling an improvement in private consumption. Incoming data for the third quarter suggests the economy gained traction at the outset of period: Industrial production rebounded and the agricultural sector gained speed in July. The retail sector, however, decelerated slightly in July. Meanwhile, on 6 August, Belarus’ state energy company Belneftekhim struck a deal with Russia to raise the oil transit tariff by 3.7% from 1 September, in order to compensate for a deterioration in oil flows linked to the contamination of the Druzhba pipeline.Belarus - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -9.9 | -6.6 | -3.1 | -3.4 | -1.7 |
Belarus Current Account Chart
Source: National Bank of the Republic of Belarus and FocusEconomics calculations.
Belarus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 2.11 | -0.36 % | Sep 04 |
| Stock Market | 0.1 | 0.0 % | Sep 04 |
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Economic News
Belarus: Industrial sector gains steam in July
August 19, 2019
Industrial activity picked up in July, growing 3.6% year-on-year following a 0.9% contraction in June.
Belarus: Inflation rises in July
August 12, 2019
Consumer prices rose 0.2% over the previous month in July, following a 0.1% month-on-month drop in June.
Belarus: Central Bank axes refinancing rate to all-time low
August 7, 2019
At its 7 August meeting, the National Bank of the Republic of Belarus (NBRB) slashed the refinancing rate by 50 basis points to an all-time low of 9.50%.
Belarus: Contraction of industrial sector eases in June
July 17, 2019
Industrial production fell 0.9% year-on-year in June, following a 3.3% contraction in May.
Belarus: Economy slows in Q2 after maintaining a steady stride in Q1
July 17, 2019
A preliminary estimate showed that the economy lost speed in the first half of the year, with GDP growing a meagre 0.9% on an annual basis in H1Growth in Q1 was revised up to 1.3% over the same quarter last year (previously reported: +1.1% year-on-year), thus the economy maintained the same pace of expansion as in Q4 2018 before losing momentum in the second quarter.
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