Belarus Industrial Activity Contraction Moderates

Industrial production in Belarus declined 1.4% year-on-year in the first five months of 2026, showing continued improvements for the fourth consecutive months, following a 2.5% decrease in the January-April. The strongest growth was recorded in supply of electricity, gas, steam, hot water and air conditioning, which increased 8.2%, followed by the mining sector at 2.5% and water supply; waste collection, treatment and disposal, pollution elimination activities at 1.1%. In contrast, manufacturing output declined 3.2%.

Industrial production in Belarus declined 2.5% year-on-year in the first four months of 2026, improving slightly from a 3.4% drop recorded in the January-March period. The electricity, gas, steam, hot water and air conditioning supply sector expanded 8.7%, while mining and quarrying grew 2.4%. Water supply, waste management and remediation activities also posted a modest 0.6% increase. However, manufacturing activity contracted 4.6%, offsetting gains in the other sectors and remaining the main drag on overall industrial output.

Industrial production in Belarus fell 3.4% year-on-year in the first three months of 2026, a slight improvement from a 3.7% drop in the first two months. Mining and quarrying increased 2.2% and electricity, gas, steam, hot water and air conditioning supply increased 8.2%. In contrast, manufacturing activities declined by 5.7% and water supply, waste management and remediation activities decreased 0.2%.