Includes Belarus real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belarus economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Belarus best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic in name, although in fact a dictatorship
Capital City: Minsk
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Central Bank of Bahrain |
---|---|
Currency |
Belarusian rubles (BYB/BYR) |
International Reserves |
USD 8.42 billion (2021) International Monetary Fund (IMF), data retrieved January 2022 |
Government Bond Ratings |
Standard & Poor’s: B Moody’s: B3 Standard & Poor’s / Moody’s Standard & Poor’s / Moody’s (January 2022) |
Gross Domestic Product – GDP |
USD 65.75 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 200.71 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 2.5% 2018 3.1% 2019 1.4% 2020* -0.9% 2021* 2.1% *Estimate |
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GDP per capita – current prices |
USD 7,032.48 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 21,466.51 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total |
0.14% (2021 estimate) |
GDP – composition by sector |
agriculture: 6.8% industry: 31.3% services: 49.1% (2020 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2017 6% 2018 4.9% 2019 5.6% 2020* 5.5% 2021* 4.3% *Estimate |
Belarus
Inflation & Debt
Inflation |
2017 6% 2018 4.9% 2019 5.6% 2020* 5.5% 2021* 4.3% *Estimate |
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Unemployment rate |
2017 5.7% 2018 4.8% 2019 4.2% 2020* 4.1% 2021* 4.3% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2017 52.2% 2018 47.5% 2019 41% 2020* 48% 2021* 44.9% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 1.6% 2018 3.8% 2019 2.6% 2020* -1.2% 2021* -2.2% *Estimate |
Market value of publicly traded shares | USD 1.2 billion (2016) |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
5.9% (2017) |
---|---|
Shares in world total merchandising export |
0.004% (2018) |
Shares in world total commercial services export |
0.008% (2018) |
Total exports |
USD 1.6 billion (2018 estimate) |
Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
Total imports |
USD 8.3 billion (2018 estimate) |
Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
Current account balance |
USD 0.26 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
---|---|
Current account balance by percentage of GDP |
0.39% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2018 USD 1.4 Billion 2019 USD 1.3 Billion 2020 USD 1.4 Billion |
FDI Outflows |
2018 USD 50 Million 2019 USD 16 Million 2020 USD 82 Million |
Value of cross-border M&A, by country of purchaser | N/a |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 49 out of 190 countries Subcategories: Starting a Business: 30 out of 190 countries Dealing with Construction Permits: 48 out of 190 countries Getting Electricity: 20 out of 190 countries Registering Property: 14 out of 190 countries Getting Credit: 104 out of 190 countries Protecting Minority Investors: 79 out of 190 countries Paying Taxes: 99 out of 190 countries Trading across Borders: 24 out of 190 countries Enforcing Contracts: 40 out of 190 countries Resolving Insolvency: 74 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking | N/A |
Index of Economic Freedom |
Ranking: 135 / Score: 53 (Mostly Unfree) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Time Zone |
UTC+2 |
---|---|
Total Area |
207,600 sq km |
Total Population |
1990 10.19 Million 2000 9.98 Million 2010 9.48 Million 2015 9.46 Million 2020 9.38 Million |
Urban population as % of total population |
1960 32.4% 1980 56.5% 2000 70% 2020 79.5% |
Population median age |
40.9 years |
Population growth rate |
-0.31% (2022 est.) |
Life expectancy |
74.3 years (2022 est.) |
% of population living on less than $3.10 a day |
0% (last available estimate, 2022) |
Inequality of wealth distribution (Gini index) |
24.4 (last available estimate, 2020) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Total score: 8/100 Status: Not Free Political Rights: 2/40 Civil Liberties: 6/60 (2022) |
Total telephone subscribers as % of population |
Fixed: 46.6% Mobile: 123.9% (2020) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
85.1% (2020) |
Language & Religon
Languages | Russian (official) 70.2%, Belarusian (official) 23.4%, other 3.1% (includes small Polish- and Ukrainian-speaking minorities), unspecified 3.3% (2009 est.) |
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Literacy |
Total population: 99.9% Male: 99.9% Female: 99.9% (2019) Definition: age 15 and over can read and write |
Religions |
Orthodox 48.3%, Catholic 7.1%, other 3.5%, non-believers 41.1% (2011 est.) |
World Rankings
Population | 9.38 M |
---|---|
Mercer Cost of living index | N/A |
C02 Emissions per capita |
6.3 metric tons per capita (2018) |
Global Finance Rankings & Awards: Belarus
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000