Belarus

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Economic and political outline

Economic indicators | Foreign Trade in figures | Sources of general economic information | Political outline

Economic indicators

After independence from the USSR in 1991, Belarus has slowly adopted market reforms and privatization but has always maintained its close economic relations with Russia. 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.
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.

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. 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.

Main indicators	2006	2007	2008	2009	2010
GDP (billions USD)	36.96	45.28	60.29	49.72e	54.19
GDP (constant prices, annual % change)	10.0	8.6	10.0	-4.3	1.6e
GDP per capita (USD)	3,805	4,673	6,234e	5,193	5,717e
Inflation rate (%)	7.0	8.4	14.8	12.6	6.0
Unemployment rate (% of the labor force)	-	-	1.6	-	-
Current Account (billions USD)	-1.45	-3.06	-5.05e	-4.03	-3.01e
Current Account (in % of GDP)	-3.9	-6.8	-8.4	-8.1	-5.6e

Source: IMF - World Economic Outlook Database ; CIA - The world factbook

Note: (e) Estimated data

Main sectors of industry

Agriculture contributes nearly 9.5% to country’s GDP. The services sector contributes nearly 50% to the GDP. Belarus' main industries are engineering, machine tools, agricultural equipment, fertilizer, chemicals, defense-related products, prefabricated construction materials, motor vehicles, motorcycles, textiles, threads, and some consumer products, such as refrigerators, watches, televisions, and radios. The types of motor vehicles produced are off-highway dump trucks with up to 110-metric-ton load capacity, tractors, earth movers for construction and mining, and 25-metric-ton trucks for use in roadless and tundra areas.

Breakdown of economic activity by sector	Agriculture	Industry	Services
Employment by sector (in % of total employment)	-	-	-
Value added (in % of GDP)	9.4	42.3	48.4
Value added (annual % change)	3.5	9.0	4.9

- last available data.

Monetary indicators	2003	2004	2005	2006	2007
Belarussian Rubble (BYR) - Average annual exchange rate for 1 USD	2,051.27	2,160.26	2,153.82	2,144.56	2,146.08

Source: World Bank - World Development Indicators

Indicator of economic freedom

Score:: 45/100
Position:: repressed
World Rank:: 167 out of 179
Regional Rank:: 43 out of 44

Distribution of Economic freedom in the world
Source: 2008 Index of Economic freedom, Heritage Foundation

Country risk

See the country risk analysis provided by Ducroire.

Foreign trade in figures

In January-June 2008, Belarus’ foreign trade in goods increased by
58.5% over January-June 2007 to 36.76 billion USD.
Export of goods increased by 61.8% to 17.3 billion USD, imports grew by 55.7% to 19.5 billion USD. The trade balance was -2214.9 million USD.
Exports of goods to Russia made up 5.580 billion USD, imports from Russia — 12.432 billion USD, or 42.0% and 70.8% up respectively January-June 2007. The foreign trade in goods with Russia surged by 60.7% to a total of 18.011 billion USD.
Trade with non-CIS states grew by 53.1% to 15.536 billion USD. Exports ramped up by 68.5% to 9.681 billion USD, imports – by 32.9% to 5.857 billion USD.

Foreign trade indicators	2003	2004	2005	2006	2007
Imports of goods (millions USD)	11,397	16,214	16,746	22,104	28,400
Exports of goods (millions USD)	10,076	13,942	16,109	19,835	24,329
Imports of services (millions USD)	841	970	1,093	1,658	2,021
Exports of services (millions USD)	1,500	1,747	2,073	2,397	3,254
Imports of goods and services (annual % change)	13.4	19.4	-1.1	9.9	0.0
Exports of goods and services (annual % change)	8.6	13.5	-2.7	9.9	7.3
Imports of goods and services (in % of GDP)	69.0	74.3	59.1	64.2	67.8
Exports of goods and services (in % of GDP)	65.2	67.9	59.8	60.1	61.7
Trade Balance (millions USD)	-1,321	-2,272	-638	-2,269	-4,071
Trade Balance (including service) (millions USD)	-663	-1,495	342	-1,531	-2,838
Foreign trade (in % of GDP)	134.1	142.1	118.9	124.3	129.6

Source: World Bank

Main partner countries

Main customers (% of exports)	2008
Russia	32.2%
Netherlands	16.9%
Ukraine	8.5%
Latvia	6.6%
Poland	5.5%
United Kingdom	4.4%
Brazil	3.3%
Germany	2.5%
Lithuania	1.9%
China	1.9%
Kazakhstan	1.1%
Estonia	1.0%
Italy	1.0%
India	1.0%
Moldova	0.7%
Romania	0.6%
Belgium	0.6%
Norway	0.5%
Hungary	0.5%
Venezuela	0.5%
See more countries	30.3%

Main suppliers (% of imports)	2008
Russia	59.8%
Germany	7.1%
Ukraine	5.4%
China	3.6%
Poland	2.9%
Italy	2.2%
France	1.4%
United States	1.2%
Netherlands	0.9%
Czech Republic	0.9%
Japan	0.8%
Belgium	0.7%
United Kingdom	0.7%
Switzerland	0.7%
Lithuania	0.6%
Turkey	0.6%
Austria	0.6%
Spain	0.5%
South Korea	0.5%
Slovakia	0.4%
See more countries	21.3%

Source: Comtrade

Main products

Main exports (% of exports)	2008
Mineral fuels, mineral oils and products of their...Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	37.5%
FertilizersFertilizers	10.9%
Vehicles other than railway or tramway...Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	9.6%
Nuclear reactors, boilers, machinery and...Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	5.5%
Iron and steelIron and steel	4.5%
Dairy produce; birds' eggs; natural honey; edible...Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included	3.4%
Articles of iron or steelArticles of iron or steel	2.5%
Electrical machinery and equipment and parts...Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	2.4%
Plastics and articles thereofPlastics and articles thereof	2.0%
Furniture; bedding, mattresses, mattress supports,...Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings	1.7%
Rubber and articles thereofRubber and articles thereof	1.7%
Wood and articles of wood; wood charcoalWood and articles of wood; wood charcoal	1.5%
Miscellaneous chemical productsMiscellaneous chemical products	1.2%
Meat and edible meat offalMeat and edible meat offal	1.1%
Articles of apparel and clothing accessories, not...Articles of apparel and clothing accessories, not knitted or crocheted	0.9%
Organic chemicalsOrganic chemicals	0.8%
Optical, photographic, cinematographic, measuring,...Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof	0.8%
Preparations of meat, of fish or of crustaceans,...Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates	0.8%
Man-made staple fibresMan-made staple fibres	0.7%
Glass and glasswareGlass and glassware	0.7%
Paper and paperboard; articles of paper pulp, of...Paper and paperboard; articles of paper pulp, of paper or of paperboard	0.6%
Articles of stone, plaster, cement, asbestos, mica...Articles of stone, plaster, cement, asbestos, mica or similar materials	0.6%
Sugars and sugar confectionerySugars and sugar confectionery	0.5%
Ceramic productsCeramic products	0.5%
Man-made filamentsMan-made filaments	0.5%
Aluminium and articles thereofAluminium and articles thereof	0.4%
Articles of apparel and clothing accessories,...Articles of apparel and clothing accessories, knitted or crocheted	0.4%
Albuminoidal substances; modified starches; glues;...Albuminoidal substances; modified starches; glues; enzymes	0.3%
Salt; sulphur; earths and stone; plastering...Salt; sulphur; earths and stone; plastering materials, lime and cement	0.3%
Impregnated, coated, covered or laminated textile...Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use	0.2%
Pharmaceutical productsPharmaceutical products	0.2%
Essential oils and resinoids; perfumery, cosmetic...Essential oils and resinoids; perfumery, cosmetic or toilet preparations	0.2%
Footwear, gaiters and the like; parts of such...Footwear, gaiters and the like; parts of such articles	0.2%
Edible vegetables and certain roots and tubersEdible vegetables and certain roots and tubers	0.2%
Miscellaneous articles of base metalMiscellaneous articles of base metal	0.2%
Printed books, newspapers, pictures and other...Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans	0.2%
Products of the milling industry; malt; starches;...Products of the milling industry; malt; starches; inulin; wheat gluten	0.2%
Wadding, felt and nonwovens; special yarns; twine,...Wadding, felt and nonwovens; special yarns; twine, cordage, ropes and cables and articles thereof	0.2%
Toys, games and sports requisites; parts and...Toys, games and sports requisites; parts and accessories thereof	0.2%
Raw hides and skins (other than furskins) and...Raw hides and skins (other than furskins) and leather	0.1%
Tanning or dyeing extracts; tannins and their...Tanning or dyeing extracts; tannins and their derivatives; dyes, pigments and other colouring matter; paints and varnishes; putty and other mastics; inks	0.1%
Other made-up textile articles; sets; worn...Other made-up textile articles; sets; worn clothing and worn textile articles; rags	0.1%
Inorganic chemicals; organic or inorganic...Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes	0.1%
Other vegetable textile fibres; paper yarn and...Other vegetable textile fibres; paper yarn and woven fabrics of paper yarn	0.1%
See more products	32.0%

Main imports (% of imports)	2008
Mineral fuels, mineral oils and products of their...Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	35.4%
Nuclear reactors, boilers, machinery and...Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	11.4%
Iron and steelIron and steel	7.0%
Vehicles other than railway or tramway...Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	4.6%
Electrical machinery and equipment and parts...Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	4.4%
Plastics and articles thereofPlastics and articles thereof	3.4%
Articles of iron or steelArticles of iron or steel	3.0%
Optical, photographic, cinematographic, measuring,...Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof	1.5%
Rubber and articles thereofRubber and articles thereof	1.4%
Organic chemicalsOrganic chemicals	1.3%
Paper and paperboard; articles of paper pulp, of...Paper and paperboard; articles of paper pulp, of paper or of paperboard	1.3%
Pharmaceutical productsPharmaceutical products	1.3%
Residues and waste from the food industries;...Residues and waste from the food industries; prepared animal fodder	1.0%
Miscellaneous chemical productsMiscellaneous chemical products	1.0%
Salt; sulphur; earths and stone; plastering...Salt; sulphur; earths and stone; plastering materials, lime and cement	0.9%
Aluminium and articles thereofAluminium and articles thereof	0.8%
Copper and articles thereofCopper and articles thereof	0.7%
Fish and crustaceans, molluscs and other aquatic...Fish and crustaceans, molluscs and other aquatic invertebrates	0.7%
Inorganic chemicals; organic or inorganic...Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes	0.7%
Tanning or dyeing extracts; tannins and their...Tanning or dyeing extracts; tannins and their derivatives; dyes, pigments and other colouring matter; paints and varnishes; putty and other mastics; inks	0.6%
Wood and articles of wood; wood charcoalWood and articles of wood; wood charcoal	0.6%
Miscellaneous edible preparationsMiscellaneous edible preparations	0.6%
Railway or tramway locomotives, rolling-stock and...Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds	0.6%
Edible fruit and nuts; peel of citrus fruits or...Edible fruit and nuts; peel of citrus fruits or melons	0.6%
Beverages, spirits and vinegarBeverages, spirits and vinegar	0.6%
Animal or vegetable fats and oils and their...Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes	0.5%
Essential oils and resinoids; perfumery, cosmetic...Essential oils and resinoids; perfumery, cosmetic or toilet preparations	0.5%
CerealsCereals	0.5%
FertilizersFertilizers	0.4%
Articles of stone, plaster, cement, asbestos, mica...Articles of stone, plaster, cement, asbestos, mica or similar materials	0.4%
Meat and edible meat offalMeat and edible meat offal	0.4%
Soap, organic surface-active agents, washing...Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modelling pastes, 'dental waxes' and dental preparations with a basis of plaster	0.4%
Furniture; bedding, mattresses, mattress supports,...Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings	0.4%
Glass and glasswareGlass and glassware	0.4%
Miscellaneous articles of base metalMiscellaneous articles of base metal	0.4%
Preparations of vegetables, fruit, nuts or other...Preparations of vegetables, fruit, nuts or other parts of plants	0.4%
Sugars and sugar confectionerySugars and sugar confectionery	0.3%
Preparations of cereals, flour, starch or milk;...Preparations of cereals, flour, starch or milk; pastrycooks' products	0.3%
Man-made filamentsMan-made filaments	0.3%
Ceramic productsCeramic products	0.3%
Tools, implements, cutlery, spoons and forks, of...Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal	0.3%
CottonCotton	0.3%
Tobacco and manufactured tobacco substitutesTobacco and manufactured tobacco substitutes	0.3%
Cocoa and cocoa preparationsCocoa and cocoa preparations	0.3%
Footwear, gaiters and the like; parts of such...Footwear, gaiters and the like; parts of such articles	0.2%
Printed books, newspapers, pictures and other...Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans	0.2%
Raw hides and skins (other than furskins) and...Raw hides and skins (other than furskins) and leather	0.2%
Oil seeds and oleaginous fruits; miscellaneous...Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or medicinal plants; straw and fodder	0.2%
Coffee, tea, maté and spicesCoffee, tea, maté and spices	0.2%
Toys, games and sports requisites; parts and...Toys, games and sports requisites; parts and accessories thereof	0.2%
Knitted or crocheted fabricsKnitted or crocheted fabrics	0.2%
Impregnated, coated, covered or laminated textile...Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use	0.2%
Man-made staple fibresMan-made staple fibres	0.2%
Edible vegetables and certain roots and tubersEdible vegetables and certain roots and tubers	0.2%
Wadding, felt and nonwovens; special yarns; twine,...Wadding, felt and nonwovens; special yarns; twine, cordage, ropes and cables and articles thereof	0.1%
Preparations of meat, of fish or of crustaceans,...Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates	0.1%
Articles of apparel and clothing accessories, not...Articles of apparel and clothing accessories, not knitted or crocheted	0.1%
Dairy produce; birds' eggs; natural honey; edible...Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included	0.1%
Albuminoidal substances; modified starches; glues;...Albuminoidal substances; modified starches; glues; enzymes	0.1%
Products of the milling industry; malt; starches;...Products of the milling industry; malt; starches; inulin; wheat gluten	0.1%
Other made-up textile articles; sets; worn...Other made-up textile articles; sets; worn clothing and worn textile articles; rags	0.1%
Articles of apparel and clothing accessories,...Articles of apparel and clothing accessories, knitted or crocheted	0.1%
Wool, fine or coarse animal hair; horsehair yarn...Wool, fine or coarse animal hair; horsehair yarn and woven fabric	0.1%
Special woven fabrics; tufted textile fabrics;...Special woven fabrics; tufted textile fabrics; lace; tapestries; trimmings; embroidery	0.1%
Miscellaneous manufactured articlesMiscellaneous manufactured articles	0.1%
See more products	37.2%

Source: Comtrade

See more products: More imports (Intracen Data)
More exports (Intracen Data)

Sources of general economic information

Ministries: Ministry of Finance (in Belarusian only)
Ministry of Economy and Energy
Statistical Office: The Ministry of Statistics and Analysis of the Republic of Belarus
Central Bank: National Bank of the Republic of Belarus
Stock Exchange: Belarusian Stock Exchange
Search Engines: Akavita
Zubr
Belarusian.com
Economic portals: Portal of the Republic of Belarus

Political outline

Executive Power: President is the chief of the state and is elected by popular vote for a five-year term. The President holds the executive powers. P rime Minister, deputy prime ministers and the Council of Ministers are appointed by the President.
Legislative Power: The legislature in Belarus is bicameral. The parliament also called National Assembly consists of two chambers: Council of the Republic (the upper house) consisting of 64 seats out of which 56 members are elected by regional councils and 8 members appointed by the president, all for four-year terms; and the Chamber of Representatives (the lower house) consisting of 110 seats with all its members elected by universal adult suffrage to serve four-year terms. The people of Belarus have very limited political rights.
Main political parties: The main political parties are: AP (Agrarian Party), KPB (Belarusian Communist Party), Liberal Democratic Party of Belarus, Republican Party of Labour and Justice, Socialist Sports Party. Parties that support the President have a chance at elections. Opposition parties are allowed to contest elections, but are widely considered to have no real chance of gaining power.
Current political leaders: President: Aleksandr LUKASHENKO (since July 1994, re-elected in September 2001 and March 2006) – supported by a group of 5 parties & a large number of independent members of the National Assembly.
Prime Minister: Sergei SIDORSKIY (since December 2003) – appointed by the President.
Next election dates: Presidential: Year 2011
National Assembly: Year 2008

Indicator of freedom of the press

World Rank:: 154/173
Evolution:: 3 places down compared to 2007

Source: Worldwide Press Freedom Index 2007, Reporters Without Borders

Indicator of political freedom

Ranking:: Not Free
Political freedom:: 7/7
Civil liberties:: 6/7

Map of freedom 2007
Source: Freedom House

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