Trade Balance in Belarus
Belarus - Trade BalanceEconomic conditions were improving prior to the outbreak of war in Ukraine, but have since seen a sharp moderation due to the impact of international sanctions. In March, annual GDP contracted for the time in over a year. Similarly, after hitting a multi-month high in January, industrial production swung into a marked contraction in February–March. Adding insult to injury, inflation hit a near seven year-high in March, weighing further on consumers’ purchasing power. In Q2, GDP continued to freefall in April, registering its sharpest contraction since December 2016 as the war raged on to the east and relentless sanctions by the West continued to strangle the economy. According to Prime Minister Nikolai Snopkov, the aforementioned sanctions will likely result in the loss of around one-third of the country’s exports, boding ill for the economy ahead.
Belarus - Trade Balance Data
|Trade Balance (USD billion)||-2.1||-2.5||-3.0||-2.5||-4.1|
5 years of economic forecasts for more than 30 economic indicators.
Belarus Trade Balance Chart
Source: National Bank of the Republic of Belarus and FocusEconomics calculations.
|Exchange Rate||2.10||-0.36 %||Dec 31|
|Stock Market||0.1||0.0 %||Jan 07|
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January 16, 2023
Industrial output shrank by 3.2% year on year in December, worsening from November’s 2.6% contraction.
January 12, 2023
Inflation eased to 12.8% in December, following November’s 13.3%.
December 12, 2022
Inflation eased to 13.3% in November, below October’s 15.2%.
November 16, 2022
Industrial output shrank by 2.6% year on year in November, up from October’s 4.1% contraction.
October 17, 2022
Industrial output shrank by 2.1% year on year in September, up from August’s 9.4% contraction.