Economy in Belarus compared to the EU (2024)

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Belarus in 2020 decreased moderatly from 64.41 billion US dollars to 61.37 billion US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 4.7 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 58 percent. Fortunately, the unemployment rate actually fell from 4.2 to 4.1 percent. The country's gross debt increased by 8.2 percent. The inflation rate fell from 5.6 percent previously to 5.5 percent by the end of 2020.

Economic performance 2022

In the Global Innovation Index, Belarus ranked 77th in 2022 with 27.5 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1990 - 2022

Largest industries

• Metal-cutting machine tools
• Tractors
• Trucks
• Motorcycles
• Synthetic fibers
• Fertilizer
• Textiles
• Refrigerators
• Washing machines and other household appliances

Imports and Exports 2022

Development of imports and exports in billions of USD 1993 - 2022

Exports

Imports

National debt in Belarus

General government debt of Belarus refers to the debts of the state, their states and municipalities, and also of public sector institutions such as social security funds.

The government debt in the period from 2004 to 2022 was between 2.1 billion and 36.0 billion USD. The highest level within the past 18 years was reached in 2011. However, the liabilities in 2022 have been only 29 billion USD

Based on the number of inhabitants, this is a debt of 3,136 USD per person. For comparison, the average debt per person in the same year in the European Union was 32,825 USD.

Public debt of the last 18 years in billions of USD

Comparison of gross debt per capita with the European Union in U.S. dollars

European Union

Belarus

Unemployment rates in percentages 1991 - 2022

The unemployment rates according to the ILOSTAT estimates used here do not always correspond to the official government figures. Instead, they are based on a harmonized procedure to compensate for different unemployment criteria and make them comparable across countries. Further information and an international comparison can be found here.

List of the 13 current Pariah States13 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.