Trade Balance in Belarus

Belarus - Trade Balance
Economic 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
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Trade Balance (USD billion) | -2.1 | -2.5 | -3.0 | -2.5 | -4.1 |
Belarus Trade Balance Chart

Source: National Bank of the Republic of Belarus and FocusEconomics calculations.
Belarus Facts
Value | Change | Date | |
---|---|---|---|
Exchange Rate | 2.10 | -0.36 % | Dec 31 |
Stock Market | 0.1 | 0.0 % | Jan 07 |
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Economic News
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Belarus: Industrial output contracts further in December
January 16, 2023
Industrial output shrank by 3.2% year on year in December, worsening from November’s 2.6% contraction.
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Belarus: Inflation declines to lowest level since February in December
January 12, 2023
Inflation eased to 12.8% in December, following November’s 13.3%.
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Belarus: Inflation declines to lowest level since February in November
December 12, 2022
Inflation eased to 13.3% in November, below October’s 15.2%.
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Belarus: Industrial output contracts again in November
November 16, 2022
Industrial output shrank by 2.6% year on year in November, up from October’s 4.1% contraction.
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Belarus: Industrial output contracts again in September
October 17, 2022
Industrial output shrank by 2.1% year on year in September, up from August’s 9.4% contraction.