Country Profile – Belarus

Belarus TPCI

Photo by Artem Podrez from Pexels

Belarus is the 63rd largest export economy in the world and the 30th most complex economy, according to the Economic Complexity Index (ECI). In 2017, Belarus exported worth $28.5 bn and imported worth $33 bn, resulting in a negative trade balance of $4.42 bn. In 2017 the GDP of Belarus was $54.5 bn and its GDP per capita was $18.8k. As of 2017, Belarus had a negative trade balance of $4.42 bn in net imports. Compare this to their trade balance in 1995 when they still had a negative trade balance of $468 mn in net imports.

According to a preliminary estimate for 2018 national accounts, the economy expanded for the second consecutive year, with annual growth accelerating to 3.0% from 2.5% in 2017 amid upbeat domestic demand dynamics. Household spending remained chiefly in the driver’s seat through much of the year, although appeared to slow in the fourth quarter amid rising inflation. Meanwhile, industrial production shifted into a lower gear in 2018, dragged by cooling manufacturing activity through year-end. On a brighter note, Fitch Ratings affirmed a stable outlook on the country’s B credit rating, citing moderating inflation, increased income per capita, despite a still high exposure to foreign currency risks.

TPCI_Graph__BELARUS TOP EXPORTS TO THE WORLD

 

TPCI_Graph__BELARUS TOP IMPORTS FROM THE WORLD

 

TPCI_Graph__TOP IMPORTING ECONOMIES

 

TPCI_Graph__TOP EXPORTING PARTNERS

 

TPCI_Graph__BELARUS TRADE FIGURES

 

India’s Trade with Belarus, in USD Million

India’s Imports from Belarus India’s exports to Belarus
TOTAL All products 188.191 TOTAL All products 44.895
3104 Mineral or chemical potassic fertilisers 141.631 3004 Medicaments 9.136
2926 Nitrile-function compounds 13.957 0304 Fish fillets and other fish meat 6.868
5402 Synthetic filament yarn 3.869 2401 Unmanufactured tobacco; tobacco refuse 5.318
4104 Tanned or crust hides and skins of bovine 3.377 2933 Heterocyclic compounds with nitrogen hetero-atom[s] only 2.477
3908 Polyamides, in primary forms 2.517 0306 Crustaceans, whether in shell or not 1.948
5902 Tyre cord fabric of high-tenacity yarn of nylon 2.467 2101 Extracts, essences and concentrates, of coffee, tea 1.937
2827 Chlorides, chloride oxides and chloride hydroxides; bromides and bromide oxides 2.434 2941 Antibiotics 1.327
4107 Leather further prepared after tanning or crusting “ 2.067 2934 Nucleic acids and their salts, 0.871
2825 Hydrazine and hydroxylamine and their inorganic salts; 2.037 1202 Groundnuts 0.776
2917 Polycarboxylic acids, their anhydrides, halides, peroxides and peroxyacids 1.896 2942 Separate chemically defined organic compounds 0.742

 

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