Short facts about the economy in Belarus
| Economy -
overview: |
Belarus has seen little structural
reform since 1995, when President LUKASHENKO launched the country on the path of
"market socialism." In keeping with this policy, LUKASHENKO reimposed
administrative controls over prices and currency exchange rates and expanded the
state's right to intervene in the management of private enterprise. In addition
to the burdens imposed by extremely high inflation, businesses have been subject
to pressure on the part of central and local governments, e.g., arbitrary
changes in regulations, numerous rigorous inspections, and retroactive
application of new business regulations prohibiting practices that had been
legal. Further economic problems are two consecutive bad harvests, 1998-99, and
persistent trade deficits. Close relations with Russia, possibly leading to
reunion, color the pattern of economic developments. For the time being, Belarus
remains self-isolated from the West and its open-market
economies. |
| GDP: |
purchasing power parity - $78.8 billion
(2000 est.) |
| GDP - real
growth rate: |
4% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $7,500 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 13%
industry: 46%
services: 41% (1999
est.) |
| Population
below poverty line: |
22% (1995
est.) |
| Household
income or consumption by percentage share: |
lowest 10%: 4.9%
highest 10%: 19.4%
(1993) |
| Inflation
rate (consumer prices): |
200% (2000
est.) |
| Labor
force: |
4.8 million
(2000) |
| Labor force
- by occupation: |
industry and construction NA%,
agriculture and forestry NA%, services NA% |
| Unemployment
rate: |
2.1% officially registered unemployed
(December 2000); large number of underemployed
workers |
| Budget: |
revenues: $4 billion
expenditures: $4.1 billion, including capital
expenditures of $180 million (1997 est.) |
| Industries: |
metal-cutting machine tools, tractors,
trucks, earth movers, motorcycles, television sets, chemical fibers, fertilizer,
textiles, radios, refrigerators |
| Industrial
production growth rate: |
5% (2000
est.) |
| Electricity
- production: |
24.911 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 99.9%
hydro: 0.1%
nuclear:
0%
other: 0% (1999) |
| Electricity
- consumption: |
27.647 billion kWh
(1999) |
| Electricity
- exports: |
2.62 billion kWh
(1999) |
| Electricity
- imports: |
7.1 billion kWh
(1999) |
| Agriculture
- products: |
grain, potatoes, vegetables, sugar
beets, flax; beef, milk |
| Exports: |
$7.4 billion (f.o.b.,
2000) |
| Exports -
commodities: |
machinery and equipment, chemicals,
metals, textiles, foodstuffs |
| Exports -
partners: |
Russia 66%, Ukraine, Poland, Germany,
Lithuania (1998) |
| Imports: |
$8.3 billion (f.o.b.,
2000) |
| Imports -
commodities: |
mineral products, machinery and
equipment, metals, chemicals, foodstuffs |
| Imports -
partners: |
Russia 54%, Ukraine, Germany, Poland,
Lithuania (1998) |
| Debt -
external: |
$1 billion (2000
est.) |
| Economic aid
- recipient: |
$194.3 million
(1995) |
| Currency: |
Belarusian ruble
(BYB/BYR) |
| Exchange
rates: |
Belarusian rubles per US dollar - 1,180
(yearend 2000), 730,000 (15 December 1999), 139,000 (25 January 1999), 46,080
(second quarter 1998), 25,964 (1997), 15,500 (yearend 1996); note - on 1 January
2000, the national currency was redenominated at one new ruble to 2,000 old
rubles |
| Fiscal
year: |
calendar year | Source: World Factbook |
