Current Account in Belarus
Belarus - Current Account
The economy contracted at a softer annual pace in Q3 than in Q2 according to preliminary data. The slight improvement was driven by higher agricultural production and a smaller decrease in the manufacturing sector. However, domestic demand remained weak as indicated by soft retail sales, as protests likely dragged on domestic activity. In other news, political tensions have escalated in recent weeks after President Lukashenko ignored the opposition’s ultimatum asking him to step down by 26 October. As a result, the opposition called a general strike. While observance of the strike has so far been patchy, ongoing protests will likely dent sentiment and retail sales, and could impact industrial production—all of which bode ill for recovery in Q4.Belarus - Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -3.1 | -3.4 | -1.7 | 0.0 | -1.8 |
Belarus Current Account Chart
Source: National Bank of the Republic of Belarus and FocusEconomics calculations.
Belarus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 2.10 | -0.36 % | Dec 31 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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Economic News
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Belarus: Industrial output records quickest growth since February 2018 in January
February 16, 2021
Industrial production expanded 8.5% year-on-year in January (December: -0.7% yoy).
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Belarus: Inflation increases in January, reaching highest level since January 2017
February 10, 2021
Consumer prices increased 1.14% in January over the previous month, down from the 1.23% rise logged in December.
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Belarus: Industrial activity drops at sharpest rate since May in December
January 19, 2021
Industrial output dropped 0.7% in year-on-year terms in December, which was a deterioration from November's 4.3% increase.
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Belarus: Economic momentum improves in Q4, but mild contraction still recorded for 2020 as a whole
January 18, 2021
A preliminary estimate revealed the economy shrank 0.9% in 2020 as a whole, improving from the 1.2% decrease observed in the first three quarters of the year and suggesting the economy picked up pace in Q4.
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Belarus: Inflation hits highest level since January 2017 in December
January 13, 2021
Consumer prices increased 1.23% in December over the previous month, accelerating from the 0.66% rise logged in November.
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