Economy
Belarus
Budget
revenues
$22.876 billion (2023 est.)
expenditures
$21.912 billion (2023 est.)
Exports
Exports 2022
$47.124 billion (2022 est.)
Exports 2023
$47.714 billion (2023 est.)
Exports 2024
$49.386 billion (2024 est.)
Imports
Imports 2022
$42.438 billion (2022 est.)
Imports 2023
$47.459 billion (2023 est.)
Imports 2024
$50.679 billion (2024 est.)
Industries
metal-cutting machine tools, tractors, trucks, earthmovers, motorcycles, synthetic fibers, fertilizers, textiles, refrigerators, washing machines, and various other household appliances
Labor force
4.817 million (2024 est.)
Public debt
Public debt 2019
33.2% of GDP (2019 est.)
Remittances
Remittances 2022
2% of GDP (2022 est.)
Remittances 2023
1.7% of GDP (2023 est.)
Remittances 2024
1.8% of GDP (2024 est.)
Exchange rates
Currency
Belarusian rubles (BYB/BYR) per US dollar -
Exchange rates 2020
2.44 (2020 est.)
Exchange rates 2021
2.539 (2021 est.)
Exchange rates 2022
2.626 (2022 est.)
Exchange rates 2023
3.007 (2023 est.)
Exchange rates 2024
3.246 (2024 est.)
Debt - external
Debt - external 2023
$18.01 billion (2023 est.)
Economic overview
the reduction of Russian energy subsidies is set to conclude in 2024; increasing public debt; significant currency pressures have resulted in heightened inflation; recent implementation of price controls on essential food items and medications; increases in public sector wages alongside a vulnerable private sector pose risks to household income growth and overall economic advancement
Unemployment rate
Unemployment rate 2022
3.6% (2022 est.)
Unemployment rate 2023
3.5% (2023 est.)
Unemployment rate 2024
3.4% (2024 est.)
Exports - partners
China 34%, Kazakhstan 10%, Uzbekistan 7%, Poland 6%, Brazil 5% (2023)
Imports - partners
China 33%, Poland 16%, Germany 11%, Lithuania 10%, Turkey 9% (2023)
Real GDP per capita
Real GDP per capita 2022
$26,500 (2022 est.)
Real GDP per capita 2023
$27,800 (2023 est.)
Real GDP per capita 2024
$29,000 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
-4.7% (2022 est.)
Real GDP growth rate 2023
4.1% (2023 est.)
Real GDP growth rate 2024
4% (2024 est.)
Agricultural products
milk, sugar beets, potatoes, wheat, triticale, barley, maize, rapeseed, rye, chicken (2023)
Exports - commodities
fertilizers, rapeseed oil, wood, poultry, beef (2023)
Imports - commodities
cars, broadcasting equipment, fabric, plastic products, video displays (2023)
Current account balance
Current account balance 2022
$2.628 billion (2022 est.)
Current account balance 2023
-$1.104 billion (2023 est.)
Current account balance 2024
-$1.925 billion (2024 est.)
Taxes and other revenues
12.7% (of GDP) (2023 est.)
GDP (official exchange rate)
$75.962 billion (2024 est.)
GDP - composition, by end use
household consumption
56.8% (2024 est.)
government consumption
19% (2024 est.)
investment in inventories
2% (2024 est.)
investment in fixed capital
23.8% (2024 est.)
exports of goods and services
65.1% (2024 est.)
imports of goods and services
-66.9% (2024 est.)
Population below poverty line
3.9% (2022 est.)
Average household expenditures
on food
29.5% of household expenditures (2023 est.)
on alcohol and tobacco
7.6% of household expenditures (2023 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
15.2% (2022 est.)
Inflation rate (consumer prices) 2023
5% (2023 est.)
Inflation rate (consumer prices) 2024
5.8% (2024 est.)
Industrial production growth rate
6% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$244.89 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$254.995 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$265.22 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
11.7% (2024 est.)
total
10.1% (2024 est.)
female
8.4% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022
$7.923 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$8.118 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$8.912 billion (2024 est.)
GDP - composition, by sector of origin
industry
30.7% (2024 est.)
services
49.7% (2024 est.)
agriculture
6.9% (2024 est.)
Household income or consumption by percentage share
lowest 10%
4.5% (2020 est.)
highest 10%
20.7% (2020 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2020
24.4 (2020 est.)