Macroeconomic Environment

  • Annual
  • Quarterly
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Indicator

Unit

2015

2016

2017

2018

2019

2020

2021

Nominal GDP

BYN mn

89,910 94,949 105,748  122,320 134,732 149,721 173,153
Nominal GDP [1]

USD mn

56,673 47,749 54,741  60,061 64,422 61,490 68,219
Nominal GDP per capita

USD per annum

5,981 5,035 5,787  6,363 6,839 6,555 7,333
Real GDP growth rate

%

-3.8% -2.5% 2.5%  3.1% 1.4% -0.7% 2.3%
Industrial production index, y-o-y

%

93.4% 99.6% 106.1%  105.7% 101.0% 99.3% 106.5%
USD/BYN exchange rate, e-o-p

-

1.86 1.96 1.97  2.16 2.10 2.58 2.55
USD/BYN exchange rate, average

-

1.59 1.99 1.93  2.04 2.09 2.43 2.54
Consumer price index, y-o-y

%

113.5% 111.8% 106.0%  104.9% 104.7% 105.5% 109.5%
Food price index, y-o-y

%

112.1% 110.4% 107.0%  104.0% 104.3% 104.6% 109.4%
Population, e-o-p

ths

9,498 9,470 9,448 9,429  9,410 9,350 9,256
% of urban population

%

76.7% 76.9% 77.1% 77.3%  77.6% 77.9% 78.1%
Unemployment rate, e-o-p

%

1.0% 0.8%
0.5%  0.3% 0.2% 0.2%
0.1%
Disposable cash incomes of households

BYN mn

56,289 58,705 64,107  72,787 81,659 90,189 101,283
Real disposable cash incomes of households growth rate, y-o-y

%

-5.9% -6.9% 2.8% 7.9% 6.1% 4.7% 2.0%
Nominal average monthly wage

BYN

671.9 722.7 815.2  958.1 1,090.9 1,250.9 1,434.4
Real wage growth rate, y-o-y

%

-3.1% -4.0% 6.2%  11.6% 7.3% 8.2% 4.4%
Disposable income, per month per household

BYN

908.1 962.3 1,043.5  1,217.0 1,357.5 1,459.8 1,599.4
including disposable cash income, per month per household

BYN

863.9 906.3 980.9  1,149.3 1,290.3 1,391.2 1,523.9
Consumer expenses, per month per household

BYN

632.9 677.7 756.2  872.3 966.5 1,063.7 1,129.2
share of disposable cash spent on consumer expenses

%

73.3% 74.8% 77.1%  75.9% 74.9% 76.5% 74.1%
share of food (incl. alcohol and tobacco) in consumer expenses

%

45.4% 44.8% 43.7%  41.9% 41.5% 41.8% 42.7%
Retail turnover

BYN mn

34,724 36,923 40,237  45,165 49,558 53,539 59,951
Food retail turnover

BYN mn

17,426 18,845 20,383  22,186 24,083 26,197 28,989
Share of food (incl. alcohol and tobacco) in total retail turnover

%

50.2% 51.0% 50.7%  49.1% 48.6% 48.9% 48.4%

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

Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022
Nominal GDP BYN mn 33,003 34,398 40,886 41,434 37,051 41,414 47,031 47,658 42,617
Nominal GDP [1] USD mn 14,770 14,105 16,313 16,097 14,289 16,218 18,681 19,141 15,322
Nominal GDP per capita

USD per quarter

1,540 1,468 1,714 1,685 1,497 1,735 1,998 2,058 1,655
Real GDP growth rate, cumulative from
the year beginning, y-o-y

%

0.1% -1.5% -0.9% -0.7% 1.1% 3.5% 2.7% 2.3% -0.4%
Industrial production index, y-o-y % 97.3% 96.9% 98.2% 99.3% 109.2% 110.4% 107.9% 106.5% 100.2%
USD/BYN exchange rate, e-o-p - 2.60 2.40 2.64 2.58 2.62 2.53 2.51 2.55 2.97
USD/BYN exchange rate, average - 2.23 2.44 2.51 2.57 2.59 2.55 2.52 2.49 2.78
Consumer price index, in the last month
of the quarter, y-o-y
% 104.9% 105.2% 106.1% 107.4% 108.5% 109.9% 110.2% 110.0% 115.9%
Food price index, in the last month of the quarter,
y-o-y
% 103.6% 104.8% 105.0% 106.2% 107.8% 109.1% 111.2% 111.4% 115.6%
Unemployment rate, e-o-p % 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.1% 0.2%
Real disposable cash incomes of households growth rate, cumulative from the year beginning, y-o-y
% 7.3% 5.4% 5.1% 4.7% 2.8% 3.4% 2.6% 2.0% 0.2%
Nominal average monthly wage BYN 1,155 1,222 1,278 1,351 1,322 1,416 1,461 1,542 1,554
Real wage growth rate, y-o-y % 8.9%  7.7% 7.7% 8.6% 5.4% 5.7% 3.7% 3.1% 4.5%
Share of food (incl. alcohol and tobacco)
in consumer expenses [2]
% 42.0% 43.4% 40.6% 41.2% 44.6% 43.5% 41.6% 41.3% n.a.
Retail turnover BYN mn 12,523 12,861 13,925 14,231 13,132 14,767 15,696 16,356 15,601
Food retail turnover BYN mn 6,105 6,596 6,708 6,787 6,457 7,169 7,452 7,911 7,617
Share of food (incl. alcohol and tobacco) in total retail turnover % 48.8% 51.3% 48.2% 47.7% 49.2% 48.5% 47.5% 48.4% 48.8%

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.

[2] The indicator for Q1 2022 will be published by National Statistical Committee on 2 June 2022.