GDP of Belarus by year table 1990. GDP per capita in Belarus

The Republic of Belarus is an export-oriented state with developed industry, service sector and agriculture. Belarus adheres to the model of a socially oriented market economy, which has proven its consistency and effectiveness.

In general, during 2010-2018, the republic’s GDP increased in comparable prices by 17.5%, with labor productivity growing by 26.8% over the specified period.

Gross domestic product per capita at purchasing power parity in the republic increased from 16.9 thousand US dollars in 2010 to 19.8 thousand US dollars in 2018.

According to the Human Development Report 2018 prepared by the UNDP, Belarus took 53rd place in the global annual ranking according to the composite human development index and entered the group of countries with a very high level of human development.

MAIN SOCIO-ECONOMIC INDICATORS

Data in Belarusian rubles are given in actual prices, from 2016 - on the price scale effective from July 1, 2016 (decrease by 10,000 times).

MAIN INDUSTRIES OF THE ECONOMY OF BELARUS

The main sectors of the Belarusian economy include industry, agriculture, construction, trade, transport activities, information and communications.

Industry

Despite the limitations of its own fuel and energy resources and the most important types of raw materials, as well as the external economic shocks of recent years, Belarus has retained its industrial potential.

Industrial development largely determines the main economic trends in our country. A quarter of the gross domestic product is produced here, about 37% of all fixed assets of the republic are concentrated, 23.7% of the total number of people employed in the economy work here.

The basis of the republic's industrial production is the manufacturing industry. Its share in 2018 accounted for 88.6% of total production volume.

The leading branches of the manufacturing industry are the food industry (25.7%), production of petroleum products (17.6%), mechanical engineering (16.2%), and chemical production (10.5%).

Structure of the manufacturing industry by type of economic activity (2018):

Production of other finished products; repair, installation of machinery and equipment

The Republic of Belarus is a regional leader in the production of tractors; about 80% of the total production volume of the countries of the Eurasian Economic Union is produced in the country. Our country is also a large manufacturer of agricultural machinery - combines, various types of forage harvesting equipment and units.

The share of potash fertilizer production is about 16% or a sixth of world production.

KEY GROUPS OF BELARUSIAN GOODS

Trucks, loaders, mining dump trucks

Tractors, grain and forage harvesters

Refrigerators, microwave ovens, electric and gas stoves

Fertilizers

Flax fiber

Chemical fibers and threads

Meat products

Dairy

Mechanical engineering

The republic's mechanical engineering includes the production of electrical equipment, machinery and equipment, computing, electronic and optical equipment, as well as vehicles and equipment. It accounts for more than 16% of the republic's manufacturing industry.

Vehicle production

The leading Belarusian manufacturer of grain and forage harvesters, known under the PALESSE brand, is the Gomselmash holding. The company has a wide export geography - the CIS countries, the European Union, China, Latin America, as well as a developed distribution network, a number of joint ventures and assembly plants.

The production of passenger cars is a rapidly developing area of ​​the automotive industry in Belarus.

Today, the main manufacturer of passenger cars in the republic is the full-cycle plant SJSC BelGee, whose production capacity is up to 60 thousand cars per year.

Electrical equipment production

The electrical industry includes enterprises in the industry that produce various products: electrical transformers, cable and wire products, electric motors, equipment for receiving, metering and distributing electrical energy.

The Minsk Electrotechnical Plant named after Kozlov holding company produces world-class electrical equipment.

Thanks to the constant modernization of production and advanced training of personnel, the plant has become the largest manufacturer of electrical transformers and has earned recognition in the domestic and international markets. Now the company supplies products to 16 countries around the world and rightfully occupies one of the leading positions in its industry.

JSC Belaruskabel is a modern enterprise producing cable and conductor products. The scope of application of manufactured products covers such industries as radio electronics, aviation technology, instrument making, construction, communications, telecommunications and electrical engineering, gas and oil refining industries.

OJSC "Brest Radio Engineering Plant" produces floor switchboards for receiving, metering and distribution of electrical energy, personal computers, electric heating devices, components for manufacturers of electric and gas stoves.

OJSC Brest Electromechanical Plant serially produces electrical energy metering devices for single- and three-phase networks.

Production of computing, electronic and optical equipment

A large diversified enterprise - the BelOMO holding - specializes in the field of laser, optical-electronic and optical-mechanical devices and systems.

OJSC Minsk Mechanical Plant named after S.I. Vavilova, the management company of the BelOMO holding, has great production potential. Sights, binoculars, night vision devices and much more are produced here. BelOMO's innovative project is the production of domestic thermal imagers.

OJSC "Gomel Plant of Measuring Instruments" is one of the leading enterprises in the instrument-making industry of the Republic of Belarus, which specializes in the production of analytical instruments designed to control and regulate technological processes and environmental monitoring, as well as electrode systems for potentiometric measurements.

Another enterprise in the instrument-making industry, OJSC Plant Evistor, specializes in the supply of components (electric mechanisms, electromagnets, electric drives, windshield wipers, variators, converters) for agricultural engineering enterprises.

Production of petroleum products, chemical production and production of rubber and plastic products

The oil refining industry of Belarus is represented by JSC Naftan (Novopolotsk) and JSC Mozyr Oil Refinery. These are modern complexes for the production of high-quality petroleum products, which are supplied to the countries of the European Union, Ukraine, the Russian Federation and other CIS countries.

The largest enterprises in Belarus that export mineral fertilizers are OJSC Belarusian Potash Company, OJSC Gomel Chemical Plant, OJSC Belaruskali and OJSC Grodno Azot.

OJSC Belaruskali is one of the world's leading producers of potash fertilizers. Over 90% of its products are exported to South and North America, Southeast Asia, Europe (more than 100 countries, including India and China).

OJSC Belshina is one of the largest enterprises in Europe producing tires.

Metallurgical complex

The metallurgical complex of the republic includes about 20 large and medium-sized metallurgical production organizations producing steel pipes, metal cord, various types of wire, and more than 60 organizations producing finished metal products - prefabricated building metal structures, various types of metal tools, reservoirs, cisterns, tanks, boilers, fasteners and others.

The largest producer of steel and steel products is the Belarusian Metallurgical Company holding.

The holding includes: OJSC "Belarusian Metallurgical Plant" - the management company of the holding "Belarusian Metallurgical Company" (Zhlobin), OJSC "Legmash Plant", OJSC "Polesieelectromash", OJSC "Kobrin Tool Plant "SITOMO", OJSC "Rechitsky" hardware plant", JSC "Mogilev Metallurgical Plant", JSC "Minsk Bearing Plant", JSC "Beltsvetmet", JSC "Beltsvtorchermet", PUP "Brestvtorchermet", PUP "Vitebskvtorchermet", PUP "Gomelvtorchermet", PUP "Grodnovtorchermet", PUP " Mogilevvtorchermet", OJSC "BELNIILIT", SUP "Zhlobinmetallurgstroy", OJSC "Zhlobinsky quarry of molding materials", SUP "Paporotnoye", TPUP "Metallurgtorg", PUP "Tsvetmet", TUP "Metallurgtrans", PTUP "Service Center "BMZ".

Energy

The fuel and energy complex (FEC) of Belarus includes systems for the extraction, transportation, storage and production of all types of energy resources. About 85% of the energy resources used in the country's economy are imported. The core of the fuel and energy complex is the electric power industry. This is one of the leading sectors of the economy as a whole; the traditionally high level of technical and engineering potential of Belarus is concentrated here. Gas supply and gas transportation across the territory of Belarus is provided by OJSC Gazpromtransgaz Belarus.

In the future, a significant part of the fuel and energy complex in Belarus will be occupied by nuclear energy. In 2008, a decision was made to build the country’s own nuclear power plant with a capacity of up to 2000 MW, which will reduce the cost of electricity produced by up to 20%.

Production of food, beverages and tobacco products

Today, food production in the republic is a modern, dynamically developing industry, whose enterprises produce more than a quarter of manufacturing products, which fully ensures the country’s food security. Thanks to large-scale modernization and the introduction of modern production technologies, industry enterprises produce high-quality products that are in stable demand in the domestic market and abroad.

The main areas of industry development are the production of dairy products, meat and meat products (more than 50% of the production volume of food, drinks and tobacco products). In addition, the republic produces sugar and confectionery products, processes and preserves fish and fish products, fruits and vegetables.

The largest enterprises producing food and beverages are JSC "Savushkin Product", Belarusian-German JV "Santa-Bremor" LLC, JSC "Slutsk Cheese-Making Plant", JSC "Babushkina Krynka" - the management company of the holding company "Mogilev Dairy Company "Babushkina Krynka" ", Volkovysk OJSC "BELLAKT", RPTUP "Milk Hotel", JV OJSC "Spartak", SOJSC "Kommunarka", OJSC "Brest Meat Processing Plant", OJSC "Berezovsky Cheese-Making Plant", OJSC "Milkavita", OJSC "Volkovysk Meat Processing Plant", OJSC "Molochny Mir", OJSC "Grodno Meat Processing Plant", OJSC "Minsk Meat Processing Plant".

Agriculture

The share of agricultural production is about 6-7% of GDP. At the same time, more than 8% of the total number of people employed in the country’s economy work in the agricultural sector.

Belarus is almost completely self-sufficient in food: imports account for less than 10% of total consumption.

In addition, 21.2% of the world's flax crops are concentrated in the country. Among the 22 leading flax fiber producers, Belarus is in the top five.

Agricultural production per capita in the republic corresponds to the level of developed countries and in many areas (production of potatoes, sugar beets, meat, milk) exceeds the indicators achieved in the CIS countries.

In terms of milk production per capita, the Republic of Belarus occupies one of the leading positions in the world and is ahead of countries such as the Russian Federation, Ukraine, and Kazakhstan. Milk production per capita in the country reached 775 kilograms.

The Republic of Belarus accounts for 0.9% in global milk production.

Belarus is one of the 15 countries of the world's largest exporters of dairy products, and ranks seventh in the world ranking for butter, eighth for buttermilk, yogurt, kefir, thirteenth for milk and condensed and dry cream, and fifteenth for whey.

In terms of meat production in slaughter weight per capita (129 kilograms), our country, as well as in milk, is ahead of the Russian Federation, Ukraine, and Kazakhstan. At the same time, per inhabitant of the Republic of Belarus, meat is produced twice as much as in the Russian Federation, Ukraine, and Kazakhstan.

The share of the Republic of Belarus in global meat production is 0.4%.

We are among the 30 leading countries in meat exports, while we occupy seventeenth place in the world ranking for poultry meat, and eighteenth for beef.

According to the Food and Agriculture Organization of the United Nations (FAO), in terms of gross harvest (in value terms) of flax fiber, Belarus is in 3rd place in the world, cranberries - in 7th, rye - in 5th, sugar beets, strawberries - in 15th place.

transport and logistic

Belarus is the most important transport artery of the Eurasian space. Every year, over 100 million tons of European cargo passes through the country, about 90% of which is between the Russian Federation and the EU. At the same time, the republic fully ensures the efficiency and safety of transit. Transport services are provided by rail, road, air, river and pipeline transport.

Information and communication technologies

Information and communication technologies play the role of a necessary tool for the development of the high-tech sector of the economy, creating conditions for the transition to a digital economy, improving the institutional environment and creating a favorable business environment.

In order to create favorable conditions for increasing the competitiveness of economic sectors based on new and high technologies, improving conditions for the development of modern technologies and increasing their exports, and attracting domestic and foreign investments in this area, a High Technology Park (HTP) was created in Belarus.

The first resident companies were registered in the Park in June 2006. Today, HTP is one of the leading innovative IT clusters in Central and Eastern Europe. The HTP has created a unique favorable environment for business development in the field of information technology, in which unprecedented tax benefits are combined with the availability of well-trained specialists for the IT industry.

Belarusian specialists participate in IT projects of any complexity, from system analysis, consulting, hardware selection to the design and development of complex systems.

Consumers of Belarusian software created by HTP residents are well-known global corporations such as Microsoft, HP, Coca-Cola, Colgate-Palmolive, Google, Toyota, Citibank, MTV, Expedia, Reuters, Samsung, HTC, Mitsubishi, BritishPetroleum, BritishTelecom, London Stock Exchange, World Bank and others.

HTP resident companies are included in the list of the largest software developers and suppliers “Software 500”, published by the influential publication of the global IT industry SoftwareMagazine, and successfully compete in the high-tech markets of North America and Western Europe.

With the development of information and communication technologies, the contribution of the production of goods and services related to ICT to the creation of added value is increasing. The share of gross value added of the ICT sector in the gross domestic product of the Republic of Belarus increased from 2.8% in 2011 to 5.6% in 2018.

The share of exports of computer services in the total volume of exports of services of the Republic of Belarus has increased 3.7 times since 2011 and amounted to 18% in 2018 (15.3% in 2017). About 90% of Belarusian exports of computer services are provided by residents of the High Technology Park.

According to the International Telecommunication Union in the ranking published in 2017, the Republic of Belarus took 32nd place out of 176 countries in the information and communication technology development index.

According to the UN report “Electronic government. Review 2018: Electronic government as support for sustainable development” The Republic of Belarus took 38th place in the ranking according to the e-government readiness index out of 193 countries, moving 11 positions up compared to the 2016 ranking. She entered the top 40 for the first time.

In the republic, cellular mobile telecommunications networks cover 98.2% of the territory where 99.9% of the population lives. The active development of fourth generation cellular mobile telecommunications networks is underway.

As of January 1, 2019, the number of cellular mobile telecommunications subscribers amounted to 11.6 million.

78.4% of households had access to the Internet (the world average for this indicator is 53.6%).

Today in Belarus, 79% of the population aged 6–72 years uses Internet services, of which almost 80% use the Internet daily.

The Republic of Belarus was the first among the CIS countries to complete the full transition to digital broadcasting.

International trade

The variety of manufactured products determines the profile of a country's foreign trade and provides the majority of foreign exchange earnings.

More than 60% of manufactured industrial products are exported, which is typical for countries with a highly developed and open economy.

Belarus maintains trade relations with almost all countries of the world. The main trading partners of the republic are the Russian Federation (according to 2018 data - 49.2% of the total trade turnover), Ukraine (7.6%), China (5%), United Kingdom of Great Britain and Northern Ireland (4.7%) , Germany (4.6%), Poland (3.5%), Netherlands (2.4%), Lithuania (2.1%), Turkey (1.4%), Italy (1.3%), Kazakhstan (1.2%).

The country’s place and role in the international services market is growing. Compared to 2010, their exports increased by more than 1.8 times.

Significant growth was demonstrated by computer services, the export of which increased by more than 7 times compared to 2010. The volume of exports of this type of services in 2018 exceeded $1.5 billion, and the share in the total export volume increased from 4.5% to 18%.

The Republic of Belarus is one of the world leaders in the export of IT services per capita. The ranking of the Top 100 best outsourcing companies in the world 2017 includes six IT companies with Belarusian offices. Products such as Viber and World of Tanks brought fame to our country.

Banking system

The banking system of Belarus is a two-tier system accepted in international practice, consisting of a central bank - the National Bank of the Republic of Belarus and second-tier commercial banks.

The main goal of the National Bank is to maintain price stability, which means ensuring a consistently low level of inflation.

As of September 1, 2019, there are 27 banks and non-bank financial institutions operating on the territory of the Republic of Belarus that have the right to carry out banking operations.

In accordance with Decree of the President of the Republic of Belarus dated June 21, 2011 No. 261, OJSC Development Bank of the Republic of Belarus was created in order to develop a system for financing government programs and socially significant investment projects, and export lending.

The Belarusian model of socio-economic development is based on the active participation of the state not only in managing market relations, but also on the participation of the state in these relations as the largest market player - about 70% of GDP is formed by enterprises with state ownership. Belarus has been demonstrating steady economic growth for many years. Over the past ten years, the country's GDP has almost doubled. Annual GDP growth in Belarus averages about 8 percent. More than half of all products produced in Belarus are exported. In terms of the ratio of foreign trade to GDP, Belarus is among the top ten European countries. However, it is worth noting the fact that the main sources of Belarus' GDP are the active use of production capacities inherited from the USSR and the high share of raw materials in total exports. Economic growth is not accompanied by the use of new technologies, market innovations or increased competitiveness of products. However, most of the production facilities inherited from the USSR are already worn out and need serious modernization. In this regard, today attracting foreign direct investment is the most important task for the Republic of Belarus.

Industry structure. Traditionally, national economies are divided into three sectors: 1) agricultural sector, 2) industrial sector, 3) service sector. For information, in middle-income countries: 2% - agricultural sector. 35% - industrial sector and 54% - service sector.

In the Republic of Belarus the following structure of GDP can be traced: 13% of GDP is formed in the agricultural sector, 42% of GDP in the industrial sector and 45% of GDP in the services sector (according to the NSSD of the Republic of Belarus, by 2020 it is predicted to carry out a structural transformation of the national economy of the Republic of Belarus in the following direction : 7% of GDP should be generated in the agricultural sector, 28% of GDP - in the industrial sector and 65% of GDP should be created in the services sector, taking into account the growth of production in all sectors of the national economy).

It turns out interesting. Judging by these data, Belarus is not at all an “agrarian country”, as some believe, and not even primarily an industrial one, but a service one: the expected contribution of the services sector this year is 38% of the total gross domestic product.

That is, the structure of the Belarusian economy is slowly but surely moving towards the structures of the economies of developed countries, that is, into the stage of post-industrial development. That is, the share of agriculture and industry is gradually decreasing, and the service sector is gradually increasing.

TOP 10 largest enterprises in Belarus by output volume

1. JSC "Naftan"(Br 13 trillion)

2. JSC "Mozyr Oil Refinery"(Br 11.5 trillion)

3. RUP "PA "Belaruskali"(Br 3.5 trillion)

4. RUP "Belarusian Metallurgical Plant"(Br 3 trillion)

5. RUP "Minsk Tractor Plant"(Br 2.5 trillion)

6. JSC "Minsk Automobile Plant"(Br 2 trillion)

7. RUP "PA "Belorusneft"(Br 1.5 trillion)

8. JSC "Atlant"(Br 1.3 trillion)

9. RUP "Gomselmash"(Br 1 trillion)

10. RUPP "Belarusian Automobile Plant"(Br1 trillion)

As the figures show, Belarus remains a country whose economy depends on a narrow group of enterprises. Their financial indicators will worsen – the income of hundreds of thousands of citizens will fall. Economic growth in the country, as many years ago, is ensured mainly by revenue-generating enterprises. Such enterprises still account for more than half of industrial production (54.8% of the total volume of production).

The main sectors of the economy are mechanical engineering, chemical and petrochemical industries, fuel and energy sector, agro-industrial complex, forestry and woodworking, etc. In 2012, industrial output increased by 11% compared to 2011. The highest growth rates of industrial production were observed in the fuel industry (11.1%), mechanical engineering and metalworking (10.2%), and the building materials industry (10.2%).

The fuel and energy complex of Belarus includes systems for the extraction, transportation, storage and production of all types of energy resources. Belarus imports about 85 percent of the energy resources used in the country's economy.

At the end of 2012, the share of agricultural production amounted to more than 8 percent of GDP. The volume of production in the industry in 2011 compared to 2010 increased by almost 9 percent.

The construction complex accounted for slightly less than 10 percent in the structure of gross domestic product. The industrial core of the complex is formed by enterprises producing construction materials.

The light industry of Belarus is represented by more than 300 enterprises, which in 2012 produced more than 3 percent of the total industrial production volume.

The transport industry in Belarus is characterized by developed infrastructure and steady growth in freight traffic.

The timber industry of Belarus has over 2.8 thousand wood processing enterprises. In 2012, the total output of organizations in the forestry, woodworking and pulp and paper industries of Belarus increased by 8.6 percent, and the volume of exports - by 7 percent.

Belarus has a developed banking sector. There are more than 25 banks in the country, of which more than 20 are banks with foreign capital, including 7 banks with 100 percent foreign capital. In addition, there are 8 representative offices of foreign banks in Belarus.

Foreign trade The economy of Belarus is export-oriented. At the end of 2012, Belarus' trade turnover amounted to more than $72 billion and increased by more than 36 percent compared to 2011. Belarus' exports amounted to almost $33 billion and exceeded the 2011 figure by more than 35 percent.

Thus, the increase in growth rates in industries: construction, agriculture, banking, communications had a positive impact on the rate of real GNP.

Objective factors constraining economic growth in the Republic of Belarus are: - limited raw materials and fuel and energy base; high resource intensity of the economy; strong dependence on supplies of raw materials, materials, fuel, components from Russia and other CIS countries; underdevelopment of market infrastructure.

After 70 years as part of the USSR, Belarus became an independent state in 1991. However, under the leadership of the first and so far permanent president Alexander Lukashenko, it has maintained deeper ties with Russia in the economic, political and other spheres than any other former Soviet republic. While the majority chose “wild capitalism,” Belarus set a course for “market socialism.” And as the latest statistics show, it was not such a bad choice. Belarus' GDP per capita, taking into account purchasing power parity, is, according to 2016 data, 17,500 US dollars. Among the CIS countries, only the Russian Federation and Kazakhstan have a higher indicator.

Belarus: GDP, population and other macroeconomic indicators

As a legacy from Soviet times, the country has a relatively developed industrial base for that period. Its replacement has not been carried out until today. Thus, the industrial base is outdated, energy intensive and dependent on Russian markets. Agriculture is also inefficient and subsidized by the government. Market reforms were carried out only at the very beginning of the period of independence, then some small objects were privatized. However, more than 80% of enterprises and 75% of banks remain state-owned. It is not surprising that the flow of foreign investment in such conditions is insignificant. Let's consider the main macroeconomic indicators for 2016, unless otherwise indicated:

• Belarus' GDP at PPP is 165.4 billion US dollars. According to this indicator, the country is in 73rd place in the world.
• GDP growth - -3%. This is the second year in a row with a negative indicator.
• Belarus' GDP per capita according to PPP is $17,500.
• by sector: agriculture - 9.2%, industry - 40.9%, service sector - 49.8%.
• Labor resources - 4.546 million people (as of 2013).
• The unemployment rate is 0.7% (as of 2014).
• Labor resources by sector: agriculture - 9.3%, industry - 32.7%, service sector - 58% (as of 2014).

in dynamics

Belarus' GDP at the official exchange rate in 2015 amounted to $54.61 billion. This is 0.09% The average GDP of the Republic of Belarus for the period from 1990 to 2015 was 32.27 billion US dollars. The highest figure was recorded in 2014. Then the GDP was 76.1 billion US dollars. The lowest was in 1999. Then the Belarusian currency was equal to 12.14 billion US dollars.

Belarus: GDP per capita

In 2015, this figure was 6158.99 US dollars. This is 49% of global GDP per capita. The average for the period from 1990 to 2015 was $6,428.4. The highest gross product per capita was recorded in 2014. Then it amounted to 6428.4 dollars. The lowest was in 1995. It was equal to 1954.38 US dollars.

General characteristics of the national economy

When considering the economy of the Republic of Belarus, GDP growth is a key indicator. It has been negative for the past two years. During the third quarter of 2016 it decreased by 3.4%. Average GDP growth for the period from 2011 to 2016 was 0.76%. A record high figure was recorded in the second quarter of 2011. Then, compared to the same period in 2010, the gross product of Belarus increased by 11.05%. The record low figure was in the second quarter of 2015. GDP decreased by 4.5%.

The main ones are the production of metal cutting machines, tractors, trucks, earth-moving equipment, motorcycles, synthetic fibers, fertilizers, textiles, radios, refrigerators. All of them work for the CIS countries and are characterized by significant obsolescence of the material and technical base. The main agricultural products are grain, potatoes, vegetables, sugar beets, beef, flax, and milk. The agricultural industry remains inefficient; its development is carried out in an extensive way. Agricultural enterprises are extremely dependent on government support; subsidies are provided at all levels.

External sector

The volume of exports of Belarus in 2016 amounted to 22.65 billion US dollars. This is 66th place in the world. This is less than in 2015. The average for the period from 2000 to 2016 is 18.81 billion US dollars. A record low export was recorded in January 2000. Then it was equal to only 3.71 billion US dollars. Goods such as machinery and various equipment, mineral products, chemicals, textiles, and food are exported. The main export partners of Belarus are the following countries: Russia, Great Britain, Ukraine, the Netherlands, Germany. In 2016, the country's import volume was $25.44 billion. Such goods as mineral products, machinery and various equipment, chemicals, food, and metals are imported into Belarus. Import partners are the following countries: Russia, China, Germany.

The table below shows the annual the value of gross domestic product per capita of the Republic of Belarus, in other words - average per capita GDP.

To better understand the meaning and significance of this common macroeconomic indicator, it would be appropriate to recall what the gross domestic product of the state is in general and in relation to the number of inhabitants.

Gross Domestic Product (GDP)- this is the total cost of all goods and services produced in the territory of a certain state during the year. Gross domestic product per capita, respectively, is the total wealth produced divided by the number of inhabitants of the country.

It is usually calculated in . Sometimes, for greater objectivity of the analysis, the calculation is not carried out at face value, but based on purchasing power parity (PPP). The methodology for calculating PPP deserves separate consideration; here we only note that in this way they strive to “level” the cost of different currencies so that the same set of goods and services have the same cost in different countries.

Per capita GDP is quite often used as an indicator of the overall health of the economy. However, when comparing this indicator in different countries, the result sometimes looks very biased. To achieve clarity in understanding the issue, it is imperative to clarify what average per capita GDP is not.

It is not the sum of all personal incomes of the population. If only because, in addition to final consumption, GDP also includes capital accumulation and government spending. A clear example of the discrepancy between average per capita GDP and personal well-being was demonstrated by the socialist system, where most of the national wealth was in state ownership. With such a distribution of benefits, small personal incomes and extremely expensive government institutions are common. In a market system, it is also not difficult to imagine a state consisting of a small number of super-rich people and a poor majority. However, the GDP per capita in such a country may be greater than in another, which has neither extremely rich nor extremely poor, but has a large and prosperous middle class.

The connection between average per capita GDP and labor productivity in the country seems somewhat more objective. However, here too, noticeable distortions in the overall picture are introduced by the uneven distribution of natural resources. Thus, an ordinary citizen of the Arabian oil monarchies personally produces noticeably less than the Chinese, but is incomparably richer than him in terms of GDP per capita.

The habit of measuring gross domestic product in US dollars also does not add objectivity to the indicator due to exchange rate fluctuations, and most importantly, price differences in countries that are far from each other in terms of living standards. To correct this shortcoming, GDP is sometimes calculated using purchasing power parity (PPP). Without delving into the calculation methodology, it can be noted that GDP calculated using PPP shows significantly larger values ​​in countries with a low cost of living. Thus, the nominal GDP of Belarus in 2016 amounted to 5,092 US dollars (according to the IMF), and according to the PPP method - 17,497 dollars.

At the end of 2017, Belarus remained in 81st position in the ranking of countries by GDP (the same as a year ago).

According to the National Statistical Committee, in January-September 2018, Belarus’ GDP grew by 3.7% compared to the same period last year.

But if a comparison of the level and quality of life of different states based on average per capita GDP sometimes turns out to be inconclusive, then changes in this indicator in one state over a number of years, as a rule, coincide with the main trends in economic development. Based on this, gross domestic product per capita is most often considered in a dynamic relationship with other economic processes.

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121.6 billion rubles

for 2018

The term " gross domestic product", or abbreviated - GDP, in use since 1934. It refers to the value of all goods and services produced in the country during one calendar year.

All countries in the world are calculating their GDP, and Belarus is no exception. This is the most important indicator of the level of economic development and its competitiveness. By observing the dynamics of this parameter, we can draw conclusions about the state of industry and the state service sector.

Belarus' GDP: what it consists of, who calculates it

The gross domestic product of the Republic of Belarus is calculated both in US dollars and in national currency. It includes the cost of all goods produced in our country without exception. The service sector is also analyzed most thoroughly. In particular, GDP includes services provided:

• High Technology Park;
• state design organizations;
• consulting, legal companies, etc.

The calculation of GDP in Belarus is carried out by specialists from the National Statistical Committee, the Ministry of Economy and other government agencies. In addition, international organizations, for example, the IMF and the European Bank for Reconstruction and Development, also conduct their own independent calculations. They use their own counting methodologies, which may differ from those used in Belarus.

Because of this, data from international organizations and the Belarusian government sometimes differs. This is especially true for forecasts of GDP growth or decline in the near future.

What was the GDP of Belarus in 2017?

According to official data released at the beginning of 2018, in 2017 GDP in Belarus grew by 2.4% - up to 105 billion BYN rubles equivalent. This result turned out to be more optimistic than the initial forecast of Belarusian experts. Previously it was believed that GDP last year would not exceed 1.7 percent.

Interestingly, these data are at odds with the IMF's observations. In October 2017, specialists from the International Monetary Fund published a report according to which the growth of gross domestic product at the end of the year will not exceed 0.7%.

In the end, which result is reliable - 2.4% or 0.7%? It may well be both - they are simply based on different calculation methodologies, which take into account some factors and do not take into account others.

You can find out what the GDP of Belarus was in 2016 and other years from the table below.

Belarus GDP 2018: forecasts for the year

Economists believe that in 2018 the Belarusian economy will continue to gradually recover after the protracted crisis. Rapid growth is not expected, but further deterioration of the situation should not be expected either. Our country is favored by external conditions - prices for oil and potash fertilizers are rising, and demand for Belarusian engineering products is gradually increasing.

GDP forecasts among different experts again differ. Thus, the government of the Republic of Belarus is confident that this figure will grow, and by the end of 2018, the gross product will increase by at least 3.5%.

IMF representatives are traditionally more reserved. In their opinion, there will indeed be growth, but it will not exceed 0.8%. Time will tell which forecast will ultimately come true.