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Belarus

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
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

Inflation & Debt

Inflation 2017 6%
2018 4.9%
2019 5.6%
2020* 5.5%
2021* 4.3%

*Estimate
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.)
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

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