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    Belarus Economy - 2003
    https://theodora.com/wfb2003/belarus/belarus_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprise. In addition to the burdens imposed by high inflation and persistent trade deficits, businesses have been subject to pressure on the part of central and local governments, e.g., arbitrary changes in regulations, numerous rigorous inspections, retroactive application of new business regulations, and arrests of "disruptive" businessmen and factory owners. A wide range of redistributive policies help those at the bottom of the ladder. Close relations with Russia, possibly leading to reunion, color the pattern of economic developments. For the time being, Belarus remains self-isolated from the West and its open-market economies.


      GDP: purchasing power parity - $85 billion (2002 est.)


      GDP - real growth rate: 4.2% (2002 est.)


      GDP - per capita: purchasing power parity - $8,200 (2002 est.)


      GDP - composition by sector: agriculture: 15%
      industry: 40%
      services: 45% (2002 est.)


      Population below poverty line: 22% (1995 est.)


      Household income or consumption by percentage share: lowest 10%: 5.1%
      highest 10%: 20% (1998)


      Distribution of family income - Gini index: 21.7 (1998)


      Inflation rate (consumer prices): 42.8% (2002 est.)


      Labor force: 4.8 million (2000)


      Labor force - by occupation: industry and construction NA%, agriculture and forestry NA%, services NA%


      Unemployment rate: 2.1% officially registered unemployed (December 2000); large number of underemployed workers


      Budget: revenues: $4 billion
      expenditures: $4.1 billion, including capital expenditures of $180 million (1997 est.)


      Industries: metal-cutting machine tools, tractors, trucks, earthmovers, motorcycles, television sets, chemical fibers, fertilizer, textiles, radios, refrigerators


      Industrial production growth rate: 2.5% (2002 est.)


      Electricity - production: 24.4 billion kWh (2001)


      Electricity - production by source: fossil fuel: 99.5%
      hydro: 0.1%
      other: 0.4% (2001)
      nuclear: 0%


      Electricity - consumption: 26.69 billion kWh (2001)


      Electricity - exports: 300 million kWh (2001)


      Electricity - imports: 4.3 billion kWh (2001)


      Oil - production: 37,000 bbl/day (2001 est.)


      Oil - consumption: 230,000 bbl/day (2001 est.)


      Oil - exports: NA (2001)


      Oil - imports: NA (2001)


      Agriculture - products: grain, potatoes, vegetables, sugar beets, flax; beef, milk


      Exports: $7.7 billion f.o.b. (2002)


      Exports - commodities: machinery and equipment, mineral products, chemicals, metals; textiles, foodstuffs


      Exports - partners: Russia 53.7%, Latvia 6.5%, Ukraine 5.6%, Lithuania 3.7%, Poland, Germany (2001)


      Imports: $8.8 billion f.o.b. (2002)


      Imports - commodities: mineral products, machinery and equipment, chemicals, foodstuffs, metals


      Imports - partners: Russia 65%, Germany 7.3%, Ukraine 3.4%, Poland 2.5% (2001)


      Debt - external: $851 million (2001 est.)


      Economic aid - recipient: $194.3 million (1995)


      Currency: Belarusian ruble (BYB/BYR)


      Currency code: BYB/BYR


      Exchange rates: Belarusian rubles per US dollar - NA (2002), 1,390 (2001), 876.75 (2000), 248.795 (1999), 46.1272 (1998)


      Fiscal year: calendar year


      NOTE: The information regarding Belarus on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Belarus Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/belarus/belarus_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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