The Gross Domestic Product (GDP) in Belarus contracted 0.20 percent in the first quarter of 2020 over the same quarter of the previous year. source: National Statistical Committee of the Republic of Belarus

GDP Annual Growth Rate in Belarus averaged 1.16 percent from 2011 until 2020, reaching an all time high of 11.05 percent in the second quarter of 2011 and a record low of -4.40 percent in the fourth quarter of 2015. This page provides - Belarus GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belarus GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Annual Growth Rate in Belarus is expected to be -2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Belarus to stand at 3.90 in 12 months time. In the long-term, the Belarus GDP Annual Growth Rate is projected to trend around 2.10 percent in 2021 and 1.60 percent in 2022, according to our econometric models.

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Belarus GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 1.60 11.05 -4.40 2011 - 2020 percent Quarterly


Belarus GDP Annual Growth Rate
Belarus has a state controlled economy where inefficient, government-run businesses from the Soviet era dominate markets and the state spends billions every year on handouts, tariffs and subsidies. On the production side, services are the biggest sector of the economy and account for 47 percent of total GDP of which trade; repair of motor vehicles account for 9 percent, transport and real estate activities account for 6 percent each and communication for 5 percent. Industry constitutes 27 percent and construction 5 percent. Finally, agriculture adds up 8 percent.