GDP in Belarus
Belarus - GDP
GDP rebounds in 2021
According to a preliminary reading, GDP rose 2.3% over the previous year in 2021, rebounding from the 0.9% contraction registered in 2020.
Although a full breakdown is not yet available, annual data shows that industrial activity was buoyant, namely mining, manufacturing and electricity production. In addition, subsectors such as information and communication, wholesale and retail trade, and transportation also performed well. Less positively, both agricultural production and construction activity declined considerably.
Going into early 2022, a robust export sector should remain largely unaffected by sanctions, as shown by ballooning exports to the EU—which nearly doubled in 2021. That said, the moving of Russian troops to Belarus in mid-January for a military exercise and the risk of conflict with Ukraine pose a serious threat to activity in the region, and reflect an environment that is hostile to investment.
FocusEconomics Consensus Forecast panelists expect the economy to expand 1.4% in 2022, which is down 0.1 percentage points from last month’s forecast. For 2023, panelists see GDP growth at 1.7%.
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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November 16, 2022
Industrial output shrank by 4.1% year on year in October, down from September’s 2.1% contraction.
October 17, 2022
Industrial output shrank by 2.1% year on year in September, up from August’s 9.4% contraction.
October 12, 2022
Inflation dropped to 17.4% in September, below August’s 17.9%.
September 16, 2022
Industrial output shrank by 9.4% compared to the same month of the previous year in August, slightly up from July’s 12.2% contraction.
September 9, 2022
Inflation came in at 17.9% in August, down from July’s 18.1%.