Current Account in Belarus
Belarus - Current Account (billions of U.S. Dollars)
Data suggests that activity was improving before Russia’s invasion of Ukraine. Industrial production picked up in January and exports grew at a double-digit pace in January–February, while the agricultural sector contracted at a softer pace. That said, despite disruption to the provision of high-frequency official data, it appears that momentum has slowed since the war’s onset. The economy should have been dented by the ruble hitting all-time lows. Moreover, a continued barrage of sanctions on both Belarus and Russia—Belarus’ main trading partner—by Western countries has taken a noticeable toll on Belarussian businesses and exports. Against this backdrop, the Belarusian Parliament is set to pass a number of measures to counteract the impact of these sanctions, while focus in trade relations have shifted, with talks to boost ties with Iran pushed forward in late April.Belarus - Current Account (USD bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (USD bn) | -1.8 | -1.6 | -1.0 | 0.0 | -1.2 |
Belarus Current Account (USD bn) Chart
Source: National Bank of the Republic of Belarus (NBRB).
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: Belarusian ruble continues to plummet as credit default risk looms
April 1, 2022
The Belarusian ruble continued to lose ground against the U.S. dollar over the past month, plummeting to an all-time low of 3.33 per USD in mid-March, amid a spiraling sovereign debt crisis due to the fallout from the Russia-Ukraine war.
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Belarus: Belarusian ruble collapses amid war in Ukraine; Central Bank hikes rate by 275 basis points to 12.00%
March 4, 2022
On 28 February, four days after war broke out in Ukraine, the National Bank of the Republic of Belarus had its first meeting in seven months.
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Belarus: Industrial output grows at quickest pace since May 2021 in January
February 16, 2022
Industrial output expanded 7.2% year-on-year in January (December: +4.3% yoy).
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Belarus: Inflation comes in at highest level since October 2021 in January
February 10, 2022
Consumer prices rose 1.53% over the previous month in January, picking up from December's 0.87% rise.
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Belarus: Industrial output rises at quickest pace in six months in December
January 17, 2022
Industrial output increased 4.3% in year-on-year terms in December, which was above November's 2.7% increase.
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