Current Account in Belarus

Belarus Current Account | Economic News & Forecasts

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  

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Belarus Current Account Chart

Belarus Current Account
Note: Current account balance as % of GDP.
Source: National Bank of the Republic of Belarus and FocusEconomics calculations.

Belarus Facts

Exchange Rate2.11-0.36 %Sep 04
Stock Market0.10.0 %Sep 04

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