Economy ofBelarus
Минск немига.jpg
Minsk, the financial capital of Belarus
CurrencyBelarusian ruble (BYN, Br)
Fiscal year
Calendar year
Trade organisations
CIS, EAEU, CISFTA
Country group
  • Developing/Emerging
  • Upper-middle income economy
Statistics
PopulationDecrease 9,408,350 (1 January 2020)
GDP
  • Increase $65.75 billion (nominal, 2021 est.)
  • Increase $196 billion (PPP, 2019 est.)
GDP rank
  • 75th (nominal, 2019)
  • 69th (PPP, 2019)
GDP growth
  • 3.1% (2018) 1.2% (2019e)
  • −0.9% (2020) 3.3% (2021f)
GDP per capita
  • Increase $7,032 (nominal, 2021 est.)
  • Increase $20,578 (PPP, 2021 est.)
GDP per capita rank
  • 84th (nominal, 2019)
  • 64th (PPP, 2019)
GDP by sector
  • agriculture: 8.1%
  • industry: 40.8%
  • services: 51.1%
  • (2017 est.)
GDP by component
  • household consumption: 54.8%
  • government consumption: 14.6%
  • investment in fixed capital: 24.9%
  • investment in inventories: 5.7%
  • exports of goods and services: 67%
  • imports of goods and services: −67%
  • (2017 est.)
Inflation (CPI)
4.8% (2020 est.)
Population belowpoverty line
  • Positive decrease 5.6% (2018)
  • Steady 0.4% on less than $5.50/day (2020f)
Gini coefficient
Positive decrease 25.2low(2018)
Human Development Index
  • Increase 0.817very high(2018) (50th)
  • Increase 0.765highIHDI (2018)
Labour force
  • Decrease 4,975,430 (2019)
  • Increase 67.5% employment rate (2018)
Labour force by occupation
  • agriculture: 9.7%
  • industry: 23.4%
  • services: 66.8%
  • (2015 est.)
UnemploymentPositive decrease 4.8% (2018)
Average gross salary
BYN 15,300/€4,600 annual (2020)
Average net salary
BYN 13,300/€4,000 annual (2020)
Main industries
metal-cutting machine tools, tractors, trucks, earthmovers, motorcycles, synthetic fibers, fertilizer, textiles, refrigerators, washing-machines and other household appliances Agricultural products: grain, potatoes, vegetables, sugar beets, flax; beef, milk
Ease-of-doing-business rank
Decrease 49th (very easy, 2020)
External
ExportsIncrease $28.65 billion (2017 est.)
Export goods
  • Agricultural products 19.6%
  • Fuels and mining products 22.0%
  • Manufacturers 55.0%
  • Others 3.5%
Main export partners
  •  Russia 44%
  •  Ukraine 10.7%
  •  Poland 4.27%
  •  Lithuania 3.54%
  •  Germany 3.11%
  •  United Kingdom 2.75%
  •  China 2.55%
  •  Kazakhstan 2.48%
  •  Netherlands 2.35% (2021)
ImportsIncrease $31.58 billion (2017 est.)
Import goods
  • Agricultural products 15.3%
  • Fuels and mining products 29.7%
  • Manufacturers 51.5%
  • Others 3.5%
Main import partners
  •  Russia 57.2%
  •  China 7.22%
  •  Poland 5.03%
  •  Germany 4.73%
  •  Ukraine 4.53%
  •  Lithuania 3.07%
  •  Turkey 1.7%
  •  Italy 1.48%
  •  Netherlands 0.99%
  •  United States 0.96% (2019)
FDI stock
  • Decrease $6.929 billion (31 December 2016 est.)
  • Decrease Abroad: $3.547 billion (31 December 2016 est.)
Current account
Increase −$931 million (2017 est.)
Grossexternal debt
Negative increase $39.92 billion (31 December 2017 est.)
Public finances
Public debt
Positive decrease 53.4% of GDP (2017 est.)
Budget balance
+2.9% (of GDP) (2017 est.)
Revenues22.15 billion (2017 est.)
Expenses20.57 billion (2017 est.)
Credit rating
  • Standard & Poor's:
  • B+ (Domestic)
  • B (Foreign)
  • B (T&C Assessment)
Foreign reserves
Increase $7.315 billion (31 December 2017 est.)
Main data source:CIA World Fact Book
All values, unless otherwise stated, are in US dollars.