GDP in Belarus
Belarus - GDP
Growth slows to a near two-year-low in Q1
A preliminary estimate confirmed weak momentum from the second half of 2018 carried over into this year. According to the National Statistical Committee (Belstat), GDP grew 1.1% on an annual basis in the first quarter, decelerating from Q4’s 1.3% reading and marking the slowest expansion since Q1 2017.
Although a detailed breakdown of the drivers is not yet available, faltering domestic activity appeared to have weighed on growth. Slower retail sales and rising inflation in January-February point to a slowdown in household spending. Furthermore, agricultural output contracted in Q1, while industrial production expanded at the slowest pace in two years in February. As for the external sector, exports contracted for a second consecutive month in January in year-on-year terms.
FocusEconomics Consensus Forecast panelists expect the economy to grow 2.5% in 2019, which is up 0.4 percentage points from last month’s projection. For 2020, the panel sees GDP increasing 2.0%.
Belarus - GDP Data
|Economic Growth (GDP, annual variation in %)||1.0||1.7||-3.8||-2.5||2.4|
5 years of economic forecasts for more than 30 economic indicators.
Belarus GDP Chart
Source: National Statistical Committee of the Republic of Belarus (BELSTAT).
|Exchange Rate||2.05||-0.36 %||Jun 20|
|Stock Market||0.1||0.0 %||Jun 20|
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June 17, 2019
Industrial production shrank 3.3% year-on-year in May, after April’s 2.1% expansion, owing to a deteriorating in the manufacturing, and mining and quarrying sectors.
June 10, 2019
Consumer prices rose 0.3% in May, following flat growth in April, largely reflecting higher prices for non-food goods and services. Inflation accelerated to 6.2% in May (April: 5.5%), moving further above the Central Bank’s 5.0% target.
May 17, 2019
Industrial production grew 2.1% year-on-year in April, accelerating from March’s 0.9% result, owing to stronger production in the manufacturing, and mining and quarrying sectors.
May 13, 2019
Consumer prices were stable over the previous month in April (March: +0.4% month-on-month), with lower prices for services offsetting higher prices for food and non-food goods.
May 3, 2019
At its 3 May meeting, the National Bank of the Republic of Belarus (NBRB) left the refinancing rate unchanged at an over decade-low 10.0%, in line with analysts’ expectations.