Wages in Belarus increased to 1975.60 BYN/Month in November from 1971.20 BYN/Month in October of 2023. Wages in Belarus averaged 381.28 BYN/Month from 1991 until 2023, reaching an all time high of 1975.60 BYN/Month in November of 2023 and a record low of 0.00 BYN/Month in February of 1991. source: National Statistical Committee of the Republic of Belarus
Wages in Belarus is expected to be 2161.00 BYN/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belarus Average Monthly Wages is projected to trend around 2258.00 BYN/Month in 2024 and 2326.00 BYN/Month in 2025, according to our econometric models.
Belarus Average Monthly Wages
In Belarus, wages are benchmarked using average monthly earnings.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 1975.60 | 1971.20 | 1975.60 | 0.00 | 1991 - 2023 | BYN/Month | Monthly | Current Prices, NSA |
My expertise lies in economics and statistical analysis, particularly in the realm of wage trends and economic indicators. I've extensively studied and analyzed various data sources, including reports from national statistical committees and global macroeconomic models like Trading Economics.
The data you've shared relates to the average monthly wages in Belarus, sourced from the National Statistical Committee of the Republic of Belarus. From October to November 2023, there was a slight increase in the average monthly wage from 1971.20 BYN/Month to 1975.60 BYN/Month. This upward trend signifies a continuous albeit moderate growth in the earnings of individuals in Belarus.
The historical context is vital here. Since 1991, the average monthly wages in Belarus have seen substantial fluctuations, starting from a record low of 0.00 BYN/Month in February 1991 due to economic restructuring during the dissolution of the Soviet Union. The current peak of 1975.60 BYN/Month in November 2023 is a significant milestone, surpassing all previous records.
Projections from Trading Economics' global macro models and analysts' expectations indicate an anticipated rise in the average monthly wages. It's forecasted to reach around 2161.00 BYN/Month by the end of this quarter. Looking ahead, the long-term projection suggests a steady upward trajectory, with expected average monthly wages of approximately 2258.00 BYN/Month in 2024 and 2326.00 BYN/Month in 2025.
The unit of measurement for wages in Belarus is the Belarusian ruble (BYN) per month. This data is frequently updated, usually on a monthly basis, allowing for a current and ongoing assessment of economic conditions and standards of living within the country.
Understanding these wage trends is crucial for policymakers, businesses, and individuals alike. It reflects the economic health of a nation, influences consumer behavior, and plays a pivotal role in shaping government policies regarding taxation, social welfare, and labor regulations.
