Economy of Belarus
An overview of key economic indicators. Select a category for detailed trends, charts, and insights.
Explore Economic Domains
Growth & Output
Trade & Finance
Labor & Income
Energy & Environment
Economic Snapshot Overview
A summary of key economic indicators for Belarus
- The economic architecture of Belarus is substantial, anchored by a Gross Domestic Product (GDP) of approximately $71.86B2023. This places it as the 83rd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $7.83K2023, while its GDP in Purchasing Power Parity (PPP) terms is estimated at $282.35B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 3.9%2023, while managing moderate inflation, with a CPI of 5.8%2024.
- On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country has a relatively balanced trade profile, with exports making up 66.8% of GDP and imports 66.2%2023. Foreign Direct Investment (FDI) inflows are significant, constituting 2.77% of the economy2023. This performance positions the country 68th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $1.26B annually2023, highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 12.8% of GDP2023.
- The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $7,7902023. Globally, this ranks the nation 88th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is robust, with a low unemployment rate of 3.4%2024. The services sector is a primary driver of the labor market, accounting for 58.9% of total employment2023. Poverty remains a key issue, with 3.9% of the population living below the national poverty line2022. The country has a relatively equitable distribution of income, with a Gini index of 24.42020.
- On the environment and energy front, energy consumption per capita is 2,862.487 kg of oil equivalent2022. The energy mix is still heavily reliant on traditional sources, with renewables contributing 8.2%2021. Its commitment to clean energy places it 40th among 190 countries for its share of renewable energy consumption.
Key Economic Insights
Macroeconomic Health
Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.
Trade & Investment Profile
The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.
Social Equity & Distribution
The benefits of growth appear to be broadly shared, with relatively low poverty and a more equitable income distribution.
Energy & Sustainability
Heavy reliance on fossil fuels creates significant long-term risks related to climate change, price volatility, and energy security.
Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.