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Europe > Belarus > Economy

BELARUSIAN ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
Agriculture > products
grain, potatoes, vegetables, sugar beets, flax; beef, milk
Aid as % of GDP 0.1% [127th of 129]
Debt > External $9,272,000,000.00 Time series [79th of 136]
Distribution of family income > Gini index 29.7 Time series [19th of 43]
Economic freedom 0.7 [153rd of 156]
Economy > Overview
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, e.g., arbitrary changes in regulations, numerous rigorous inspections, retroactive application of new business regulations, and arrests of "disruptive" businessmen and factory owners. A wide range of redistributive policies has helped those at the bottom of the ladder; the Gini coefficient is among the lowest in the world. Because of these restrictive economic policies, Belarus has had trouble attracting foreign investment. Nevertheless, GDP growth has been strong in recent years, reaching nearly 7% in 2007, despite the roadblocks of a tough, centrally directed economy with a high, but decreasing, rate of inflation. Belarus receives heavily discounted oil and natural gas from Russia and much of Belarus' growth can be attributed to the re-export of Russian oil at market prices. Trade with Russia - by far its largest single trade partner - decreased in 2007, largely as a result of a change in the way the Value Added Tax (VAT) on trade was collected. Russia has introduced an export duty on oil shipped to Belarus, which will increase gradually through 2009, and a requirement that Belarusian duties on re-exported Russian oil be shared with Russia - 80% will go to Russia in 2008, and 85% in 2009. Russia also increased Belarusian natural gas prices from $47 per thousand cubic meters (tcm) to $100 per tcm in 2007, and plans to increase prices gradually to world levels by 2011. Russia's recent policy of bringing energy prices for Belarus to world market levels may result in a slowdown in economic growth in Belarus over the next few years. Some policy measures, including tightening of fiscal and monetary policies, improving energy efficiency, and diversifying exports, have been introduced, but external borrowing has been the main mechanism used to manage the growing pressures on the economy.
Exports $24,470,000,000.00 Time series [61st of 189]
GDP $36,945,290,000.00 Time series [63rd of 203]
GDP > PPP $67,902,000,000.00 [62nd of 163]
GDP > Real growth rate 8.2% Time series [29th of 198]
GDP growth > annual % 9.24 annual % Time series [13th of 187]
GINI index 29.72 Time series [20th of 40]
Gross National Income $12,860,600,000.00 [72nd of 172]
Human Development Index 0.786 [67th of 178]
Income category Lower middle income
Income distribution > Poorest 10% 5.1% [1st of 114]
Income distribution > Richest 10% 20% [114th of 114]
Population below poverty line 27.1% Time series [28th of 46]
Poverty > Share of all poor people 0.02 % of world's poor [66th of 80]
Tourist arrivals 254,000 [93rd of 152]

... View all Economy stats

SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; ; World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling; United Nations World Statistics Pocketbook and Statistical Yearbook

ALTERNATIVE NAMES: Belarus, Republic of Belarus, Respublika Byelarus', byelarus

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