Belarus Slaps 30% Fee on Currency Exchanges

Belarus has imposed a 30% fee on any currency exchange transactions in an effort to contain any panic that has spilled over from neighboring Russia. The Belarusian National Bank announced it was imposing the fee for businesses and individuals using Belarusian rubles to buy foreign currency.

 
 
Source
Central bank

National Bank of the Republic of Belarus

International Reserves

US$ 7.265 billion (Source: IMF; Data updated: 2014)

Gross Domestic Product - GDP

US$ 77 billion (2014 estimate)

GDP (Purchasing Power Parity)

171 billion of International dollars (2014 estimate)

Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
7% 11.5% 9.4% 10.0% 8.7% 10.3% 0.1% 7.7%
2011 2012 2013 2014*        
5.5% 1.7% 0.9% 0.9%        

*Estimate

GDP per capita - current prices

US$ 8,195 (2014 estimate)

GDP per capita - PPP

18,178 International Dollars (2014 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2014*
N/A N/A 0.12% 0.17% 0.16%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 9.2% 
  • industry: 46.4% 
  • services: 44.7% (2013 estimate)
Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2011 2012 2013 2014*
53.2% 59.2% 18.3% 18.6%

*Estimate

Unemployment rate
2011 2012 2013 2014*
0.7% 0.6% 0.5% 0.5%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2010 2011 2012 2013 2014*
39.5% 45.9% 38.5% 37.0% 35.7%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2010 2011 2012 2013 2014*
-0.5% 4.2% 1.7% -0.9% -3.3%

*Estimate 

Government bond ratings

Standard & Poor's: B-

Moody's rating: B3

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Sept 2014)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in Belarus

N/A

 
 
Source
Current account balance

US$ -7.674 billion (2014 estimate)

Current account balance by percentage of GDP

-10.038% of GDP (2014 estimate)

Exports as percent of GDP(Exports of goods and services)

61.2% (2013)

Shares in world total merchandising export

0.25% (2012)

Shares in world total commercial services export

0.13% (2012)

Total exports

US$42.06 billion (2013 estimate) 

Export commodities

machinery and equipment, mineral products, chemicals, metals, textiles, foodstuffs

Total imports

US$45.170 billion (2013 estimate) 

 
 
Source
Import commodities

mineral products, machinery and equipment, chemicals, foodstuffs, metals

Exports - major partners

Russia 35.4%, Netherlands 16.4%, Ukraine 12.1%, Latvia 7.1% (2012)

Imports - major partners

Russia 59.4%, Germany 5.9%, China 5.1%, Ukraine 5% (2012)

FDI inflows
2011 2012 2013
US$4,002 million US$1,464 million US$2,233 million
FDI outflows
2011 2012 2013  
US$126 million US$156 million US$173 million  
Value of cross-border M&A;, by country of purchaser
2010 2011 2012 2013
N/A N/A N/A US$215 million
Cross-border M&A; deals worth over $3 billion completed in 2012 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Cross-border M&A; deals worth over $3 billion completed in 2013 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Best countries for doing business World Bank/IFC Doing Business Project

Economies are ranked on their ease of doing business, from 1 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.


Overall ranking: 63 out of 189 countries  (2013)

Subcategories:

Starting a business: 15 out of 189 countries

Enforcing Contracts: 13 out of 189 countries

Registering Property: 3 out of 189 countries

Getting credit: 109 out of 189 countries

Protecting investors: 98 out of 189 countries

Trading across border: 149 out of 189 countries

Paying Taxes: 133 out of 189 countries

Dealing with Construction Permits: 30 out of 189 countries

Getting Electricity: 168 out of 189 countries

Resolving Insolvency: 74 out of 189 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

N/A

 

 

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 150 Score: 50.1 (Mostly Unfree) (2014)

(100=totally free 0=totally repressed )

 
 
Source
Time zone

UTC+2

Total area

207,600 sq km

Capital

Minsk 

Currency

Belarusian rubles (BYB/BYR) 

Government type

republic in name, although in fact a dictatorship

Languages

Belarusian (official) 23.4%, Russian (official) 70.2%, other 3.1% (includes small Polish- and Ukrainian-speaking minorities), unspecified 3.3% (2009 est.)

Religions

Eastern Orthodox 80%, other (including Roman Catholic, Protestant, Jewish, and Muslim) 20% (1997 est.)

Total population
1990 2000 2010 2014*

2019**

N/A 9.99 million 9.5 million 9.417 million 9.184 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2011
32.4% 56% 70%

76%

Population median age

39.4 years (2014 estimate)

Population growth rate

-0.19% (2014 est.)

Life expectancy

72.15 years (2014 estimate)

Adult literacy

99.6% (2009 estimate)

% of population living on less than $2 a day

0% (2011)

Inequality of wealth distribution (Gini index)

26.5 (2011)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 7
Civil Liberties: 6 (2014)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

Fixed 47.8%  Mobile 118.8%
(2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

54.17% (2013)

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Minsk: 191st (2014)

CO2 emissions(Metric tons of CO2 per capita)

6.6 (2010)

World's Best Developed & Emerging Markets Banks

World’s Best Foreign Exchange Providers

World's Best Banks By Region

World's Best Banks

2013

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Additional Awards