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Economy of Belarus

Economic indices (latest):

Item

Value

Source

GDP

USD 72 billion in 2023

Belarusian National Committee for Statistics

GDP growth

3.9% (2023)

Belarusian National Committee for Statistics

Inflation

5.8% (2023)

Consumer Prices growth in 2022

Unemployment rate

3.5% (2023)

Belarusian National Committee for Statistics, IVQ 2022

Exchange rate

1 US $ = 3.2 BYN (approx)

Q1 2024

Forex reserves

8.35 billion USD total as on 1 April 2024

National Bank of Belarus

Gross foreign debt

36.9 billion USD

National Bank of Republic of Belarus (as on 1 Jan, 2024);



Principal industries by contribution to GDP (2022 data of National Statistics Committee of Belarus)

24,0% - processing industry (wood, engineering products and chemicals)
10,8% – taxes
9,5% - trade, repair of cars, motocycles
7.7% - agriculture
5.0% - transport
4.9% - construction
38.1 % - other

Trade (2023):

The total trade in goods and services of Belarus in 2023 is USD 95.3 billion out of which exports were USD 47.87 billion and imports were USD 47.39 billion.

Natural resources:

Belarus is rich in natural resources such as potassium and rock salt, brown coal, iron ore, peat, and insignificant deposits of oil.

Potable and mineral water of high quality is especially abundant. There are around 20 thousand rivers with the total length of 90.6 thousand km and around 10 thousand lakes in the country.

May 2024