GDP of Belarus in the I quarter decreased by 2.1%

According to the results of the first quarter of 2023, the GDP of Belarus decreased by 2.1% relative to the same period a year earlier. About it informs Belstat.

“The volume of GDP at current prices amounted to 46.5 billion [белорусских] rubles, or in comparable prices 97.9% compared to the level of the 1st quarter of 2022. The GDP deflator index in the 1st quarter of 2023 compared to the same period of the previous year amounted to 109.4%,” the report says.

At the same time, Belstat data indicate an increase in industrial production. In the first three months, the volume of industrial production amounted to 44.2 billion Belarusian rubles, which is 1.8% more than in the first quarter of 2022. Agricultural production in the first quarter of 2023 also increased by 3% relative to the same period in Last year.

In addition, in January-March, passenger traffic increased by 15.5% compared to the first quarter of 2022. At the same time, freight traffic dropped significantly – by 32% compared to the same period a year earlier.

In 2022 GDP of Belarus shrunk by 4.7%. In November 2022, Prime Minister of the Republic Roman Golovchenko declaredthat by the end of 2023 the Belarusian economy should grow by 3.8%. According to him, such rates will be ensured by an increase in industrial production in 2023 by 2.4%. It is expected that the volume of output will be a record for the last 10 years, added Golovchenko.