In 2021, Belarus' GDP grew 2.3 percent on the back of improved external demand and higher export prices. Sectoral economic sanctions imposed since mid-2021 had limited effects, while the Ukrainian market (a destination for more than 13 percent of merchandize exports) remained accessible.The growth outlook is clouded by extreme uncertainties as economic sanctions continue to widen, and as Russia, Belarus’s major trade and financing partner, is facing a slew of far-reaching economic and financial sector restrictions, according to the World Bank. source: World Bank
Full Year GDP Growth in Belarus averaged 2.51 percent from 1991 until 2021, reaching an all time high of 11.45 percent in 2004 and a record low of -11.70 percent in 1994. This page includes a chart with historical data for Belarus Full Year GDP Growth. Belarus Full Year GDP Growth - values, historical data and charts - was last updated on July of 2022.
Full Year GDP Growth in Belarus is expected to reach -6.90 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belarus Full Year GDP Growth is projected to trend around 1.30 percent in 2023 and 1.50 percent in 2024, according to our econometric models.