Belarus: economy

What is the inflation rate in Belarus?

Consumer prices in Belarus were 4.6% higher in September 2026 than a year earlier, according to the National Statistical Committee (Belstat). Prices rose 0.5% in the month and 3.6% since December 2025. Core inflation, which excludes administered and seasonal prices, was 0.5% in the month and 3.9% since December.

Services prices rose fastest, 9.0% over the year, while food prices rose 2.8% and non-food goods 3.7%. The core index is published alongside the headline index because some prices are administered, and these can move in steps when tariffs are changed. Belstat's release gives the monthly and year-on-year changes for each group.

Official sources: National Statistical Committee (Belstat)

What is Belarus's GDP growth rate?

Belarus's GDP was BYN 209.1 billion in January to August 2026, 1.9% more in real terms than in the same months of 2025, according to the first estimate by the National Statistical Committee (Belstat). The GDP deflator was 113%.

The deflator measures the change in prices across the whole economy, so nominal GDP rose much faster than real output. Belstat notes that the later grain and rapeseed harvest in 2026 compared with 2025 affected the figures. For the full year 2025, GDP was BYN 286.7 billion, according to Belarus in Figures 2026. Monthly estimates are cumulative from January and are revised later.

Official sources: National Statistical Committee (Belstat) · Belarus in Figures 2026

What is the refinancing rate in Belarus?

The refinancing rate of the National Bank of the Republic of Belarus is 9.25%, in force since 1 June 2026, according to the National Bank data service.

The refinancing rate is the National Bank's main policy rate. It serves as a benchmark for the rates banks charge on loans and pay on deposits. The data service returns the rate in force on any chosen date. The National Bank's own website could not be reached from here on 15 October 2026.

Official sources: National Bank data service

How much does Belarus export?

Belarus exported USD 32.3 billion of goods in January to August 2026 and imported USD 35.7 billion, according to the National Statistical Committee (Belstat). In current prices, exports were 22.4% higher and imports 19.7% higher than a year earlier.

These figures cover goods only. Including services, Belstat's main indicators table shows exports of USD 33.0 billion and imports of USD 32.8 billion in January to July 2026, a small surplus, because Belarus exports more services than it imports. Values are in US dollars at current prices, so they move with both volumes and prices.

Official sources: National Statistical Committee (Belstat) · main indicators table

What is the Belarusian rouble exchange rate?

The official rate on 15 October 2026 was BYN 3.0113 per US dollar, according to the National Bank of the Republic of Belarus.

The National Bank sets an official rate for each foreign currency for each working day. Banks and exchange offices set their own buying and selling rates, which can differ from the official rate. The same data service gives the official rates for the euro, the Russian rouble and other currencies, and for past dates.

Official sources: National Bank of the Republic of Belarus

What is Belarus' economic growth rate?

1.3%: that is real GDP growth in Belarus for 2025, according to the World Bank. Its high point since 2005 was 2008, at 10.2%; its low point was 2022, at -4.7%. It is 34th highest of 49 in Europe & Central Asia, where the median is 2.1%. Worldwide: 146th of 180.

What is Belarus' GDP per person?

In 2025, GDP per person in Belarus was $10,279, according to the World Bank. No year since 2005 has been higher. Europe & Central Asia median: $28,420; Belarus is 40th highest of 49. World rank, highest first: 79th of 180.

How does Belarus' income per person compare after prices?

The World Bank puts GDP per person at purchasing power parity in Belarus at $34,716 in international dollars in 2025. That is the highest since at least 2005. Across Europe & Central Asia the middle value was $50,946 in international dollars, and Belarus placed 36th highest of 49. Of 179 countries with 2025 data, 60th highest.

What share of Belarus' economy is exports?

55.1% of GDP: that is exports of goods and services in Belarus for 2025, according to the World Bank. Its high point since 2005 was 2012, at 78.8% of GDP; its low point was 2009, at 48.9% of GDP. It is 16th highest of 46 in Europe & Central Asia, where the median is 47.7% of GDP. World rank, highest first: 30th of 133.

Does Belarus earn more abroad than it spends?

According to the IMF, the current account balance in Belarus was -1.2% of GDP in 2025 (a deficit). The peak was 3.8% of GDP in 2022 and the low -14.5% of GDP in 2010. Europe & Central Asia median: -0.3% of GDP; Belarus is 27th highest of 47. World rank, highest first: 72nd of 132.

What is FDI in Belarus?

According to the IMF, net inflows of foreign direct investment in Belarus was 1.8% of GDP in 2025. Since 2005 it has ranged from 1.0% of GDP (2006) to 6.5% of GDP (2011). Across Europe & Central Asia the middle value was 1.9% of GDP, and Belarus placed 27th highest of 49. World rank, highest first: 102nd of 179.

What are bank lending rates in Belarus?

The latest figure from the IMF, for 2025, is 10.9%. Its high point since 2005 was 2012, at 19.5%; its low point was 2008, at 8.6%. Across Europe & Central Asia the middle value was 8.0%, and Belarus placed 6th highest of 17. World rank, highest first: 28th of 73.