GDP in Belarus

Belarus GDP | Economic News & Forecasts

Belarus - GDP

Flash estimate suggests softer contraction in 2016

In 2016, GDP in Belarus decreased 2.6%, according to a flash estimate released by the National Statistical Committee (Belstat) on 18 January. The second consecutive annual contraction was thus softer than in 2015, when the economy decreased a more severe 3.9%. The flash estimate was slightly worse than FocusEconomics panelists’ estimate of a 2.5% contraction for last year.

The preliminary estimate does not give a breakdown of the GDP components or a growth number for Q4. However, available indicators show a mixed picture of the economy. While industrial production improved from a 6.6% decrease in full year 2015 to a moderate 0.4% decline in 2016, retail sales contracted at a sharper rate in the last quarter of the year compared to the previous quarter and for 2016 as a whole retail sales fell 2.3%, down from a meagre 0.2% expansion in 2015.

FocusEconomics Consensus Forecast panelists expect the economy to grow 0.6% in 2017, which is up 0.1 percentage points from the previous month’s projection. For 2018, the panel sees GDP increasing 1.4%.

Belarus - GDP Data

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)1.7  1.0  1.7  -3.8  -2.6  

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Belarus GDP Chart


Belarus GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Statistical Committee of the Republic of Belarus (BELSTAT).

Belarus Facts

ValueChangeDate
Exchange Rate1.940.34 %Sep 21
Stock Market0.20.0 %Sep 21

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Economic News

  • Belarus: Industrial production moderates in July

    August 16, 2017

    Industrial production rose 5.4% over the same month of the previous year in July, coming in lower than the 6.6% jump in June. According to Belarus’ National Statistical Committee (BELSTAT), the biggest expansion was observed in the manufacturing sub-index, which itself was driven by a noteworthy increase in the production of machinery and equipment.

    Read more

  • Belarus: Inflation falls in July

    August 10, 2017

    Consumer prices fell 0.1% in July over the previous month, contrasting June’s 0.7% increase.

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  • Belarus: Industrial production growth moderates in June

    July 17, 2017

    Industrial production rose a solid 6.6% over the same month of the previous year in June, but came in lower than the notable 8.4% jump in May. According to Belarus’ National Statistical Committee (BELSTAT), the biggest expansion was observed in the manufacturing sub-index, which in turn was driven by an upsurge in the production of machinery and equipment.

    Read more

  • Belarus: Inflation shoots up in June following May’s multi-year low

    July 12, 2017

    Consumer prices rose 0.7% in June over the previous month following May’s 0.3% increase.

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  • Belarus: Growth in industrial production surges in May to over four-year high

    June 16, 2017

    Industrial production in May jumped 8.4% over the same month last year, however the reading comes in below April’s 8.7%. According to Belarus’ National Statistical Committee (BELSTAT), the expansion was driven primarily by strong growth in the manufacture of machinery and equipment sector, while the category of other manufacturing (which includes repair and installation of machinery and equipment) recorded the biggest contraction. Annual average growth in industrial production increased from 2.2% in April to 2.8% in May, marking the highest result in over four years.

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