Current Account in Belarus
Belarus - Current Account
GDP growth fell to a three-year low in 2019, against the backdrop of a challenging external environment, while available data points to a marked downturn at the outset of this year. In January, economic activity contracted for the first time in nearly three years, as industrial output shrank at the sharpest rate in over four years amid faltering manufacturing and mining activity. Moreover, growth momentum in both the agricultural and retail sectors softened slightly in the opening month of the year. The downturn likely carried over into February–March as the global coronavirus outbreak bodes ill for the country’s external sector. In other news, Russia rejected Belarus’s pleas to provide it with cheaper oil supplies, likely using it as leverage to pressurize Belarus to join a full-blown political union.Belarus - Current Account Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -6.6 | -3.1 | -3.4 | -1.7 | -0.1 |
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 production edges down in February
March 17, 2020
Industrial production fell 0.8% on an annual basis in February, following a marked 5.8% dip in the opening month of the year, which had marked the sharpest contraction since November 2015.
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Belarus: Inflation falls to 19-month low in February
March 10, 2020
Consumer prices rose 1.0% over the previous month in February, largely in line with January’s 0.9% increase but marking the strongest rise since February 2019.
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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.
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Belarus: Central Bank cuts refinancing rate to fresh record low in February
February 12, 2020
At its 12 February meeting, the National Bank of the Republic of Belarus (NBRB) trimmed the refinancing rate by 25 basis points to an all-time low of 8.75%.
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Belarus: Inflation remains stable in January
February 10, 2020
Consumer prices rose 0.9% over the previous month in January, accelerating slightly from December’s 0.5% uptick and marking the strongest increase in nearly a year.
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