GDP in Belarus
Belarus - GDP
Economy records quickest upturn since Q2 2018 in Q2
According to a preliminary reading, GDP growth improved to 5.5% year-on-year in the second quarter (H1 2021: 3.3% yoy), from 1.1% in the first quarter. Q2's reading marked the strongest growth since Q2 2018.
Cumulative data for H1 shows a stronger manufacturing sub-sector compared to Q1, while the fall in construction activity ebbed. In addition, services sub-sectors such as wholesale and retail, transportation and information and communication all accelerated. Meanwhile, the agricultural sector remained in contractionary territory.
Going forward, several headwinds have emerged moving into Q3, as the most recent rate hike by the Central Bank could dent domestic activity due to tighter access to credit. Meanwhile, the external sector faces a double threat from the fresh sanctions imposed by the EU from late June and the deteriorating health situation in key trading partner Russia, which could lead to tighter restrictions that would pose a downside risks to external demand.
FocusEconomics Consensus Forecast panelists expect the economy to expand 1.6% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, panelists see GDP growth at 2.0%.
Belarus - GDP Data
|Economic Growth (GDP, annual variation in %)||-3.8||-2.5||2.5||3.1||1.2|
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||2.10||-0.36 %||Dec 31|
|Stock Market||0.1||0.0 %||Jan 07|
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September 10, 2021
Consumer prices increased 0.18% in August over the previous month, picking up from July's 0.07% rise.
August 17, 2021
Industrial production increased 2.7% year-on-year in July (June: +6.9% yoy).
August 10, 2021
Consumer prices rose 0.07% from the previous month in July, which was below the 0.65% increase seen in June..
Belarus: Industrial output records slowest expansion since December 2020 in June, due to a less favorable base effect
July 16, 2021
Industrial production expanded 6.9% year-on-year in June (May: +11.5% yoy).
July 16, 2021
According to a preliminary reading, GDP growth improved to 5.5% year-on-year in the second quarter (H1 2021: 3.3% yoy), from 1.1% in the first quarter.