GDP of Belarus. Dynamics of changes by years
After 70 years spent in the USSR, in 1991Belarus became an independent state. However, under the leadership of the first and so far unchanged President Alexander Lukashenko, he maintained deeper ties with Russia in economic, political and other spheres than any other former Soviet republic. While most chose "wild capitalism," Belarus has embarked on a policy of "market socialism." And as the latest statistics show, this was not such a bad choice. The per capita GDP of Belarus, taking into account the purchasing power parity, is, according to data for 2016, $ 17,500. The highest indicator from the CIS countries is only Russia and Kazakhstan.
Belarus: GDP, population and other macroeconomic indicators
As a legacy from Soviet times, the country remaineda relatively developed industrial base for that period. Its replacement has not been made to this day. Thus, the industrial base is obsolete, energy-intensive and dependent on Russian markets. Agriculture is also inefficient and is subsidized by the state. Market reforms were carried out only at the very beginning of the independence period, then some small objects were privatized. However, more than 80% of enterprises and 75% of banks remain in state ownership. There is nothing surprising in that the flow of foreign investment in such conditions is insignificant. Consider the main macroeconomic indicators for 2016, unless otherwise indicated:
- The GDP of Belarus in the PPP is 165.4 billion US dollars. According to this indicator, the country is on the 73rd place in the world.
- GDP growth is -3%. This is the second year in a row with a negative indicator.
- The GDP of Belarus per capita for PPP is $ 17500.
- Gross domestic product by sector: agriculture - 9.2%, industry - 40.9%, services - 49.8%.
- Labor resources - 4.546 million people (according to data for 2013).
- The unemployment rate is 0.7% (for 2014).
- Labor resources by sectors: agriculture - 9.3%, industry - 32.7%, services - 58% (according to data for 2014).
Gross Domestic Product in Dynamics
GDP of Belarus at the official rate in 2015amounted to 54.61 billion dollars. This is 0.09% of the world economy. The average GDP of the Republic of Belarus for the period from 1990 to 2015 amounted to 32.27 billion US dollars. The highest rate was recorded in 2014. Then GDP was 76.1 billion US dollars. The lowest is in 1999. Then the Belarusian gross domestic product was equal to 12.14 billion US dollars.
Belarus: GDP per capita
In 2015, this indicator was 6,158.99US dollars. This is 49% of the world's GDP per capita. The average for the period from 1990 to 2015 was 6428.4 US dollars. The highest gross product per capita was recorded in 2014. Then it was 6428.4 dollars. The lowest is 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. Over the past two years, it has been negative. For the third quarter of 2016, gross domestic product decreased by 3.4%. The average GDP growth for the period from 2011 to 2016 was 0.76%. A record high rate was recorded in the second quarter of 2011. Then, compared to the same period in 2010, Belarus's gross product increased by 11.05%. Record low rate - in the second quarter of 2015. GDP has decreased by 4.5%.
The main industries aremanufacture of machine tools for cutting metals, tractors, trucks, earthmoving equipment, motorcycles, synthetic fibers, fertilizers, textiles, radios, refrigerators. All of them work for the CIS countries and are characterized by considerable obsolescence of the material and technical base. The main agricultural products are grains, potatoes, vegetables, sugar beet, beef, flax, milk. The agro-industry remains inefficient, its development is done in an extensive way. Agricultural enterprises are highly dependent on state support, subsidization is carried out at all levels.
The volume of Belarusian exports in 2016 was22.65 billion US dollars. This is the 66th place in the world. This is less than in 2015th. The average for the period from 2000 to 2016 is $ 18.81 billion. Record low exports were recorded in January 2000. Then it was only $ 3.71 billion. For export there are such goods as machines and various equipment, mineral products, chemicals, textiles, food. The main partners of Belarus for export are the following states: Russia, Great Britain, Ukraine, Netherlands, Germany. In 2016, the country's imports totaled $ 25.44 billion. Imported to Belarus are such products as mineral products, machinery and various equipment, chemicals, food, metals. The following countries are import partners: Russia, China, Germany.