Belarus GDP and its Economy: 5 Amazing Facts

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Belarus GDP

Belarus country overview

Before we start to discuss Belarus GDP, first we discuss Belarus economic overview. Belarus is officially called the Republic of Belarus. It is a landlocked country and located in Eastern Europe.

Belarus GDP
Belarus GDP

Belarus has shared its borders with Russia, Ukraine, Poland, Lithuania, and Latvia.

Minsk is the capital and largest city of Belarus. Its official language is Belarusian and Russian. When we talk about its ethnic groups, so 85% Belarussian, 8% Russian and other ethnic groups live in Belarus.

In religion, 55% Christianity, 41% non-religion, and other religions exist in Belarus. Its government system is the Unitary presidential republic and also a dictatorship.

Its president’s name is Alexander Lukashenko. Its prime minister’s name is Roman Golovchenko. Its total land area is 207,590 km2. Its land area rank is 84th in the world.

Belarus’s total population is 9,349,600 in the year 2021. Its population rank is 96th in the world.

Belarus Economy

Belarus currency is called the Belarusian ruble. Belarus economy is called the Emerging economy with the upper-middle-income economy.

The inflation rate in Belarus is 4.8% in the year 2020. 5.6% of the Belarus population lives below the poverty line. Its HDI rate is 0.817 in the year 2018. Its HDI rate is considered very high in the world.

Its HDI rank is 50th in the world. The unemployment rate in Belarus is 4.8% in the year 2018. Its gross external debt is $40 billion in the year 2017. Its total foreign reserves are $7 billion in the year 2017.      

Belarus GDP

Its total GDP is $66 billion (nominal) and $197 billion (PPP) in the year 2021. Its GDP rank is 75th (nominal) and 69th (PPP) in the year 2021. Its GDP growth is 3.3% in the year 2021.

Its GDP per capita is $7,050 (nominal) and $20,600 (PPP) in the year 2021. Its GDP per capita rank is 84th (nominal) and 64th (PPP) in the year 2019.

When we talk about its GDP by sector, so Agriculture was 8%, industry 41%, and services are 51% in the year 2017.  

Exports

Belarus’s total exports are $28 billion in the year 2017. Its main export goods are Agriculture products, fuel, food products, and others, Its main export partners are Russia, Poland, Germany, China, Netherlands, and others. 

Imports

Its total imports are $32 billion in the year 2017. Its main import goods are fuel, mining, machinery, and others. Its main import partners are Russia, China, Ukraine, Turkey, Italy, the United States, and others.

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