Markets Actual Q1 Q2 Q3 Q4 2021
Currency 2.21 2.15 2.16 2.17 2.18 2.2

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Annual Growth Rate (%) 1.40 -1 -1.5 -1.5 -1.2 1.8
Unemployment Rate (%) 0.30 0.4 0.5 0.5 0.7 1
Inflation Rate (%) 4.70 4.2 4.5 4.8 5.1 4.2
Interest Rate (%) 8.75 8.75 8.5 8.25 8 7
Balance of Trade (USD Million) -1063.20 -160 -220 -940 -470 -440
Current Account to GDP (%) -2.30 -2.5 -2.5 -2.5 -2.5 -2.3
Government Debt to GDP (%) 26.90 27.5 27.5 27.5 27.5 27
Government Budget (% of GDP) 4.00 2 2 2 2 2.2
Corporate Tax Rate (%) 18.00 18 18 18 18 18
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q1 Q2 Q3 Q4 2021
GDP Annual Growth Rate (%) 1.40 -1 -1.5 -1.5 -1.2 1.8
GDP (USD Billion) 59.66 63.3 63.3 63.3 63.3 67
GDP Constant Prices (BYN Million) 21327.40 18454 19513 21007 21071 21451
Gross Fixed Capital Formation (BYN Million) 5476.70 4330 5071 5395 5411 5508
GDP per capita (USD) 6744.50 6900 6900 6900 6900 7200
GDP per capita PPP (USD) 17741.86 18500 18500 18500 18500 18500
GDP From Agriculture (BYN Million) 792.10 817 780 780 783 797
GDP From Construction (BYN Million) 1793.00 1451 1766 1766 1771 1803
GDP From Manufacturing (BYN Million) 7404.10 6319 7293 7293 7315 7447
GDP From Mining (BYN Million) 241.30 225 238 238 238 243
GDP From Public Administration (BYN Million) 1174.40 1079 1157 1157 1160 1181
GDP From Services (BYN Million) 16249.50 14434 16006 16006 16055 16343
GDP From Transport (BYN Million) 1887.70 1833 1859 1859 1865 1899
GDP From Utilities (BYN Million) 918.80 1070 905 905 908 924

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 0.30 0.4 0.5 0.5 0.7 1
Wages (BYN/Month) 1238.70 1204 1229 1259 1117 1266
Minimum Wages (BYN/Month) 330.00 375 375 375 375 390
Population (Million) 9.49 9.45 9.45 9.45 9.45 9.43
Retirement Age Women 56.00 57 57 57 57 57
Retirement Age Men 61.00 62 62 62 62 62
Living Wage Family (BYN/Month) 515.00 587 586 585 586 664
Living Wage Individual (BYN/Month) 265.00 302 301 301 301 342
Wages High Skilled (BYN/Month) 589.00 671 670 669 670 760
Wages Low Skilled (BYN/Month) 395.00 450 449 449 449 509

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 4.70 4.2 4.5 4.8 5.1 4.2
Producer Prices (points) 100.60 107 107 107 105 111
Inflation Rate Mom (%) 0.90 0.8 0.4 0.4 0.5 0.5
Food Inflation (%) 4.10 4.8 4.8 4.8 4 4
Producer Prices Change (%) 104.10 6.8 6.5 6.5 5.6 5.6

Money Actual Q1 Q2 Q3 Q4 2021
Interest Rate (%) 8.75 8.75 8.5 8.25 8 7
Deposit Interest Rate (%) 7.75 7.75 7.75 7.75 7.75 7.25
Lending Rate (%) 9.75 9.75 9.75 9.75 9.75 9.25

Trade Actual Q1 Q2 Q3 Q4 2021
Balance of Trade (USD Million) -1063.20 -160 -220 -940 -470 -440
Current Account to GDP (%) -2.30 -2.5 -2.5 -2.5 -2.5 -2.3
Imports (USD Million) 3842.20 3290 3340 3340 3820 3890
Exports (USD Million) 2779.00 2100 2200 2400 2700 3200

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 26.90 27.5 27.5 27.5 27.5 27
Government Budget (% of GDP) 4.00 2 2 2 2 2.2
Government Budget Value (BYN Thousand) -318246.60 331509 331509 331509 506004 617962
Government Spending (BYN Million) 2744.20 2686 2687 2703 2711 2760

Taxes Actual Q1 Q2 Q3 Q4 2021
Corporate Tax Rate (%) 18.00 18 18 18 18 18
Personal Income Tax Rate (%) 13.00 13 13 13 13 13
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 35.00 35 35 35 35 35
Social Security Rate For Companies (%) 34.00 34 34 34 34 34
Social Security Rate For Employees (%) 1.00 1 1 1 1 1

Business Actual Q1 Q2 Q3 Q4 2021
Industrial Production (%) -5.80 3.7 4.1 4.1 4.5 2.8
Leading Economic Index (%) -1.90 -2.2 -2.6 -3 -3.5 2
Mining Production (%) -3.60 2.8 2.8 2.8 3.7 3.7

Consumer Actual Q1 Q2 Q3 Q4 2021
Consumer Spending (BYN Million) 12245.40 11132 11740 12062 12098 12316
Consumer Credit (BYN Million) 5481.00 4516 4786 5179 5415 5513
Gasoline Prices (USD/Liter) 0.83 0.74 0.76 0.78 0.8 0.8


This page has economic forecasts for Belarus including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Belarus economy.