Current Account in Belarus
Belarus - Current Account
Economic conditions were improving prior to the outbreak of war in Ukraine, but have since seen a sharp moderation due to the impact of international sanctions. In March, annual GDP contracted for the time in over a year. Similarly, after hitting a multi-month high in January, industrial production swung into a marked contraction in February–March. Adding insult to injury, inflation hit a near seven year-high in March, weighing further on consumers’ purchasing power. In Q2, GDP continued to freefall in April, registering its sharpest contraction since December 2016 as the war raged on to the east and relentless sanctions by the West continued to strangle the economy. According to Prime Minister Nikolai Snopkov, the aforementioned sanctions will likely result in the loss of around one-third of the country’s exports, boding ill for the economy ahead.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: Inflation slides in August
September 9, 2022
Inflation came in at 17.9% in August, down from July’s 18.1%.
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Belarus: Industrial activity contracts at record pace in July
August 17, 2022
Industrial output fell 12.2% compared to the same month of the previous year in July, worsening from June’s 10.2%.
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Belarus: Inflation comes in at highest level in nearly eight years in July
August 10, 2022
Consumer prices rose 0.50% over the previous month in July, a smaller increase than the 1.13% rise recorded in June.
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Belarus: Inflation rises to highest level in nearly eight years in June
July 11, 2022
Consumer prices increased 1.13% over the previous month in June, accelerating from May's 0.72% increase.
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Belarus: Industrial activity contracts at record pace in May
June 17, 2022
Industrial output slid 11.0% compared to the same month of the previous year in May, which was a deterioration from April's 10.6% decrease.
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