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Economy of Belarus

Economic indices (latest):

Item

Value (2022)

Source

GDP

USD 72.8 billion

Belarusian National Committee for Statistics

GDP growth

Minus 4.7% compared to 2021

Belarusian National Committee for Statistics

Inflation

12.8%

Consumer Prices growth in 2022

Unemployment rate

3.5%

Belarusian National Committee for Statistics, IVQ 2022

Exchange rate

1 US $ = 2.629 BYN

2022 Average

Forex reserves

7.97 billion USD as on 01 May 2023

National Bank of Belarus

Gross foreign debt

41.5 billion USD (as on Oct 1, 2022)

National Bank of Republic of Belarus ;


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

24,0% - processing industry [Major components - Food, textiles, wood and petroleum products]
10,8% – taxes
9,5% - trade, repair of cars, motocycles
7.7% - agriculture
5.0% - transport
4.9% - construction
38.1 % - other

Trade (2022): The total trade in goods of Belarus in 2022 is US$ 76.9 bn (-6% from 2021) out of which US $ 49.9 bn (64.9%) was the trade with CIS countries (Russia mostly) and US$ 27.0 bn with other countries.

(Source: State Committee for Statistics of Belarus)

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 20.8 thousand rivers with the total length of 90.6 thousand km and 10.8 thousand lakes in the country.

November 2023

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