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Economic overview
Belarus — 34 years of data
Historical Values
| Year | Value |
|---|---|
| 1992 | In many ways Belarus resembles the three Baltic states, for example, in its industrial competence, its higher-than-average standard of living, and its critical dependence on the other former Soviet states for fuels and raw materials. Belarus ranks fourth in gross output among the former Soviet republics, producing 4% of the total GDP and employing 4% of the labor force. Once a mainly agricultural area, it now supplies important producer and consumer goods - sometimes as the sole producer - to th |
| 1993 | In many ways Belarus resembles the three Baltic states, for example, in its industrial competence, its higher-than-average standard of living, and its critical dependence on the other former Soviet states for fuels and raw materials. Belarus ranks fourth in gross output among the former Soviet republics, having produced 4% of the total GDP and employing 4% of the labor force in the old USSR. Once a mainly agricultural area, it now supplies important producer and consumer goods - sometimes as the |
| 1994 | Belarus ranks among the most developed of the former Soviet states, with a relatively modern - by Soviet standards - and diverse machine building sector and a robust agriculture sector. It also serves as a transport link for Russian oil exports to the Baltic states and Eastern and Western Europe. The breakup of the Soviet Union and its command economy has resulted in a sharp economic contraction as traditional trade ties have collapsed. At the same time, the Belarusian Government has lagged behi |
| 1995 | Belarus ranks among the most developed of the former Soviet states, with a relatively modern - by Soviet standards - and diverse machine building sector and a robust agriculture sector. It also serves as a transport link for Russian oil exports to the Baltic states and Eastern and Western Europe. The breakup of the Soviet Union and its command economy has resulted in a sharp economic contraction as traditional trade ties have collapsed. The Belarusian government has lagged behind the governments |
| 1996 | At the time of independence in late 1991, Belarus was one of the most developed of the former Soviet states, inheriting a modern - by Soviet standards - machine building sector and robust agricultural sector. However, the breakup of the Soviet Union and its traditional trade ties, as well as the government's failure to embrace market reforms, has resulted in a sharp economic decline. Privatization is virtually nonexistent and the system of state orders and distribution persists. Although Preside |
| 1997 | At the time of independence in late 1991, Belarus was one of the most developed of the former Soviet states, inheriting a modern - by Soviet standards - machine building sector and robust agricultural sector. However, the breakup of the Soviet Union and its traditional trade ties in December 1991, as well as the government's failure to embrace market reforms, has resulted in a sharp economic decline. Privatization is virtually nonexistent and the system of state orders and distribution persists. |
| 1998 | The Belarusian government has revived economic output since mid-1996 by pursuing a policy of rapid credit expansion, ending years of cumulative decline. Real GDP increased by 2.6% in 1996 and the growth rate tripled in 1997. Lack of profitability and resurgent inflation-which increased from an average monthly rate of 2.8% in 1996 to 4.4% in 1997-however, have kept enterprises from making much needed capital investments. As a result, infrastructure and equipment stocks have continued to deteriora |
| 1999 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism". In keeping with this policy, LUKASHENKO re-imposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprise. This produced a climate hostile to private business, inhibiting domestic and foreign investment. The Government of Belarus has artificially revived economic output |
| 2000 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO re-imposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprise. In addition to the burdens imposed by high inflation, businesses have been subject to pressure on the part of central and local governments, e.g., arbitrary changes |
| 2001 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprise. In addition to the burdens imposed by extremely high inflation, businesses have been subject to pressure on the part of central and local governments, e.g., arbitrar |
| 2002 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprise. In addition to the burdens imposed by high inflation and persistent trade deficits, businesses have been subject to pressure on the part of central and local governm |
| 2003 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprise. In addition to the burdens imposed by high inflation and persistent trade deficits, businesses have been subject to pressure on the part of central and local governm |
| 2004 | Belarus' economy in 2003 posted 6.1 percent growth and is likely to continue expanding through 2004, albeit at a slower growth rate. The Belarusian economy in 2004 is likely to be hampered by high inflation, persistent trade deficits, and ongoing rocky relations with Russia, Belarus' largest trading partner and energy supplier. Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKAS |
| 2005 | Belarus's economy in 2003-04 posted 6.1% and 6.4% growth. Still, the economy continues to be hampered by high inflation, persistent trade deficits, and ongoing rocky relations with Russia, Belarus' largest trading partner and energy supplier. Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and exp |
| 2006 | Belarus's economy in 2005 posted 8% growth. The government has succeeded in lowering inflation over the past several years. Trade with Russia - by far its largest single trade partner - decreased in 2005, largely as a result of a change in the way the Value Added Tax (VAT) on trade was collected. Trade with European countries increased. Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this poli |
| 2007 | Belarus's economy in 2006 posted more than 8% growth. Trade with Russia - by far its largest single trade partner - decreased in 2006, largely as a result of a change in the way the Value Added Tax (VAT) on trade was collected. Trade with European countries increased. Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and curre |
| 2008 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subject to pressure by central and local governments |
| 2009 | Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subject to pressure by central and local governments |
| 2010 | Belarus has seen limited structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subjected to pressure by central and local governme |
| 2011 | Belarus has seen limited structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subjected to pressure by central and local governme |
| 2012 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base; it retained this industrial base - which is now outdated, energy inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets - following the breakup of the USSR. The country also has a broad agricultural base which is inefficient and dependent on government subsidies. After an initial burst of capitalist reform from 1991-94, including privatization of state enterpri |
| 2013 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base; it retained this industrial base - which is now outdated, energy inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets - following the breakup of the USSR. The country also has a broad agricultural base which is inefficient and dependent on government subsidies. After an initial burst of capitalist reform from 1991-94, including privatization of state enterpri |
| 2014 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base; it retained this industrial base - which is now outdated, energy inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets - following the breakup of the USSR. The country also has a broad agricultural base which is inefficient and dependent on government subsidies. After an initial burst of capitalist reform from 1991-94, including privatization of state enterpri |
| 2015 | As part of the former Soviet Union, Belarus had a relatively well-developed, though aging industrial base; it retained this industrial base - which is now outdated, energy inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets - following the breakup of the USSR. The country also has a broad agricultural base which is largely inefficient and dependent on government subsidies. After an initial burst of capitalist reform from 1991-94, including privatiza |
| 2016 | As part of the former Soviet Union, Belarus had a relatively well-developed, though aging industrial base; it retained this industrial base - which is now outdated, energy inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets - following the breakup of the USSR. The country also has a broad agricultural base which is largely inefficient and dependent on government subsidies. After an initial burst of capitalist reform from 1991-94, including privatiza |
| 2017 | As part of the former Soviet Union, Belarus had a relatively well-developed, though aging industrial base; it retained this industrial base - which is now outdated, energy inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets - following the breakup of the USSR. The country also has a broad agricultural base which is largely inefficient and dependent on government subsidies. After an initial burst of capitalist reform between 1991 and 1994, including |
| 2018 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base, but it is now outdated, inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets. The country’s agricultural base is largely dependent on government subsidies. Following the collapse of the Soviet Union, an initial burst of economic reforms included privatization of state enterprises, creation of private property rights, and the acceptance of private entrepreneur |
| 2019 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base, but it is now outdated, inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets. The country’s agricultural base is largely dependent on government subsidies. Following the collapse of the Soviet Union, an initial burst of economic reforms included privatization of state enterprises, creation of private property rights, and the acceptance of private entrepreneur |
| 2020 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base, but it is now outdated, inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets. The country’s agricultural base is largely dependent on government subsidies. Following the collapse of the Soviet Union, an initial burst of economic reforms included privatization of state enterprises, creation of private property rights, and the acceptance of private entrepreneur |
| 2021 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base, but it is now outdated, inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets. The country’s agricultural base is largely dependent on government subsidies. Following the collapse of the Soviet Union, an initial burst of economic reforms included privatization of state enterprises, creation of private property rights, and the acceptance of private entrepreneur |
| 2022 | As part of the former Soviet Union, Belarus had a relatively well-developed industrial base, but it is now outdated, inefficient, and dependent on subsidized Russian energy and preferential access to Russian markets. The country s agricultural base is largely dependent on government subsidies. Following the collapse of the Soviet Union, an initial burst of economic reforms included privatization of state enterprises, creation of private property rights, and the acceptance of private entrepreneur |
| 2023 | declining Russian energy subsidies will end in 2024; growing public debt; strong currency pressures have led to higher inflation; recent price controls on basic food and drugs; public sector wage increases and fragile private sector threaten household income gains and economic growth |
| 2024 | declining Russian energy subsidies will end in 2024; growing public debt; strong currency pressures have led to higher inflation; recent price controls on basic food and drugs; public sector wage increases and fragile private sector threaten household income gains and economic growth |
| 2025 | declining Russian energy subsidies will end in 2024; growing public debt; strong currency pressures have led to higher inflation; recent price controls on basic food and drugs; public sector wage increases and fragile private sector threaten household income gains and economic growth |