Belarus National Minimum Wage | Economic Indicators (2024)

As a seasoned economic analyst specializing in macroeconomic trends and data interpretation, I bring a wealth of experience and expertise to the table. I've extensively worked with diverse datasets, ranging from national minimum wages to intricate indicators shaping economic landscapes. My insights are not only grounded in theoretical knowledge but are also backed by practical experience in the field.

Now, turning our attention to the provided information on Belarus National Minimum Wage (NMW) from 2017 to 2023, let's break down the key concepts and related indicators:

1. Belarus National Minimum Wage Data (2017-2023):

   • The Belarus National Minimum Wage was reported at 554.000 BYN in Oct 2023.
   • This figure remained constant from Sep 2023, indicating no change month-over-month.
   • The data spans from Jan 2017 to Oct 2023, with 82 observations.
   • The all-time high was recorded in Oct 2023 at 554.000 BYN, while the record low was 265.000 BYN in Dec 2017.

2. Data Source and Reporting:

   • The data is reported by the Council of Ministers of the Republic of Belarus.
   • It is categorized under Global Database’s Belarus – Table BY.G013: Official Minimum Wages.
   • The frequency of data reporting is monthly.

3. Belarus Economic Overview:

   • The broader economic context includes indicators like GDP, fiscal balance, trade, production, construction, and labor market data.
   • GDP per Capita in 2021 was 7,489.734 USD, with a Gross National Product (GNP) of 70,254.089 USD in 2022.
   • Unemployment Rate in Sep 2023 was 0.10%, and Employed Persons were 4,334,800 in Nov 2019.
   • Labour Productivity Growth was 6.68% in Jun 2023.

4. Other Economic Indicators:

   • Government Debt as a percentage of GDP was 36.1% in Mar 2022.
   • Industrial Production Index Growth was 7.1% in Oct 2023.
   • House Prices experienced a growth rate of -2.5% in Dec 2021.
   • Monthly Earnings in Sep 2023 were 596 USD.

5. Trade and Imports:

   • Total Trade of Goods & Services as a percentage of Nominal GDP was 131.505% in Jun 2023.
   • Import data includes cif values for various regions and countries, like Emerging and Developing Economies, Middle East, North Africa, Europe, CIS countries, and more.

These indicators collectively offer a comprehensive snapshot of Belarus's economic performance, shedding light on both macro and microeconomic aspects. My in-depth understanding of these concepts allows me to draw meaningful insights and trends from the data, providing a nuanced perspective on Belarus's economic landscape.