Macroeconomic Environment

  • Annual
  • Quarterly
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Indicator

Unit

2016

2017

2018

2019

2020

2021

2022

Nominal GDP

BYN mn

94,949 105,748  122,320 134,732 149,721 176,879 191,374
Nominal GDP [1]

USD mn

47,749 54,741  60,061 64,422 61,490 69,687 73,046
Nominal GDP per capita

USD per annum

5,035 5,787  6,363 6,839 6,555 7,491 7,916
Real GDP growth rate

%

-2.5% 2.5%  3.1% 1.4% -0.7% 2.4% -4.7%
Industrial production index, y-o-y

%

99.6% 106.1%  105.7% 101.0% 99.3% 106.5% 94.6%
USD/BYN exchange rate, e-o-p

-

1.96 1.97  2.16 2.10 2.58 2.55 2.74
USD/BYN exchange rate, average

-

1.99 1.93  2.04 2.09 2.43 2.54 2.62
Consumer price index, y-o-y

%

111.8% 106.0%  104.9% 104.7% 105.5% 109.5% 115.2%
Food price index, y-o-y

%

110.4% 107.0%  104.0% 104.3% 104.6% 109.4% 116.5%
Population, e-o-p

ths

9,470 9,448 9,429  9,410 9,350 9,256 9,201
% of urban population

%

76.9% 77.1% 77.3%  77.6% 77.9% 78.1% 78.4%
Unemployment rate, e-o-p

%

0.8%
0.5%  0.3% 0.2% 0.2%
0.1%
0.1%
Disposable cash incomes of households

BYN mn

58,705 64,107  72,787 81,659 90,189 101,383 113,818
Real disposable cash incomes of households growth rate, y-o-y

%

-6.9% 2.8% 7.9% 6.1% 4.7% 2.1% -3.6%
Nominal average monthly wage

BYN

722.7 815.2  958.1 1,090.9 1,250.9 1,434.4 1,630.9
Real wage growth rate, y-o-y

%

-4.0% 6.2%  11.6% 7.3% 8.2% 4.4% -1.8%
Disposable income, per month per household

BYN

962.3 1,043.5  1,217.0 1,357.5 1,459.8 1,599.4 1,781.5
including disposable cash income, per month per household

BYN

906.3 980.9  1,149.3 1,290.3 1,391.2 1,523.9 1,696.6
Consumer expenses, per month per household

BYN

677.7 756.2  872.3 966.5 1,063.7 1,129.2 1,249.1
share of disposable cash spent on consumer expenses

%

74.8% 77.1%  75.9% 74.9% 76.5% 74.1% 73.6%
share of food (incl. alcohol and tobacco) in consumer expenses

%

44.8% 43.7%  41.9% 41.5% 41.8% 42.7% 42.2%
Retail turnover

BYN mn

36,923 40,237  45,165 49,558 53,539 60,067 67,470
Food retail turnover

BYN mn

18,845 20,383  22,186 24,083 26,197 29,137 33,704
Share of food (incl. alcohol and tobacco) in total retail turnover

%

51.0% 50.7%  49.1% 48.6% 48.9% 48.5% 50.0%

Source: National Statistical Committee, National Bank of the Republic of Belarus

[1] Nominal GDP in USD is calculated by dividing the nominal GDP in BYN by the average exchange rate of the Belarusian ruble to USD for the reporting period.

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Indicator

Unit

Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023
Nominal GDP BYN mn 41,414 47,031 47,658 43,395 43,777 52,306 51,895 46,840 50,737
Nominal GDP [1] USD mn 16,218 18,681 19,141 15,601 16,647 20,325 20,736 17,020 17,310
Nominal GDP per capita

USD per quarter

1,735 1,998 2,047 1,686 1,799 2,196 2,240 1,850 1,881
Real GDP growth rate, cumulative from the year beginning, y-o-y

%

3.5% 2.7% 2.3% -0.4% -4.4% -4.8% -4.7% -2.0% 2.0%
Industrial production index, y-o-y % 110.4% 107.9% 106.5% 100.2% 94.8% 93.9% 94.6% 101.8% 106.0%
USD/BYN exchange rate, e-o-p - 2.53 2.51 2.55 2.97 2.52 2.48 2.74 2.86 3.03
USD/BYN exchange rate, average - 2.55 2.52 2.49 2.78 2.63 2.57 2.50 2.75 2.93
Consumer price index, in the last month of the quarter, y-o-y % 109.9% 110.2% 110.0% 115.9% 117.6% 117.4% 112.8% 106.0% 102.9%
Food price index, in the last month of the quarter, y-o-y % 109.1% 111.2% 111.4% 115.6% 119.6% 118.3% 113.8% 109.2% 103.6%
Unemployment rate, e-o-p % 0.2% 0.2% 0.1% 0.2% 0.2% 0.1% 0.1% 0.1% 0.1%
Real disposable cash incomes of households growth rate, cumulative from the year beginning, y-o-y
% 3.4% 2.6% 2.1% 0.0% -2.8% -3.9% -3.6% 0.3% 3.9%
Nominal average monthly wage BYN 1,416 1,461 1,542 1,554 1,589 1,651 1,731 1,731 1,861
Real wage growth rate, y-o-y % 5.7% 3.7% 3.1% 4.5% -4.7% -4.6% -1.8% 1.7% 13.1%
Share of food (incl. alcohol and tobacco) in consumer expenses % 43.5% 41.6% 41.3% 42.3% 43.8% 41.1% 41.8% 43.0% 42.5%
Retail turnover BYN mn 14,838 15,776 16,423 15,601 16,372 17,726 17,771 16,599 18,923
Food retail turnover BYN mn 7,219 7,521 7,949 7,617 8,460 8,817 8,811 8,393 9,391
Share of food (incl. alcohol and tobacco) in total retail turnover % 48.7% 47.7% 48.4% 48.8% 51.7% 49.7% 49.6% 50.6% 49.6%

Source: National Statistical Committee, National Bank of the Republic of Belarus

[1] Nominal GDP in USD is calculated by dividing the nominal GDP in BYN by the average exchange rate of the Belarusian ruble to USD for the reporting period.