2007, largely as a result of a
change in the way the Value Added Tax (VAT) on trade was collected.
Russia has introduced an export duty on oil shipped to Belarus,
which will increase gradually through 2009, and a requirement that
Belarusian duties on re-exported Russian oil be shared with Russia -
80% will go to Russia in 2008, and 85% in 2009. Russia also
increased Belarusian natural gas prices from $47 per thousand cubic
meters (tcm) to $100 per tcm in 2007, and plans to increase prices
gradually to world levels by 2011. Russia's recent policy of
bringing energy prices for Belarus to world market levels may result
in a slowdown in economic growth in Belarus over the next few years.
Some policy measures, including tightening of fiscal and monetary
policies, improving energy efficiency, and diversifying exports,
have been introduced, but external borrowing has been the main
mechanism used to manage the growing pressures on the economy.

GDP (purchasing power parity):

$103.5 billion (2007 est.)

GDP (official exchange rate):

$44.77 billion (2007 est.)

GDP - real growth rate:

8.2% (2007 est.)

GDP - per capita (PPP):

$10,600 (2007 est.)

GDP - composition by sector:

agriculture: 8.7%
industry: 40.6%
services: 50.6% (2007 est.)

Labor force:

4.3 million (31 December 2005)

Labor force - by occupation:

agriculture: 14%
industry: 34.7%
services: 51.3% (2003 est.)

Unemployment rate:

1.6% officially registered unemployed; large number of underemployed
workers (2005)

Population below poverty line:

27.1% (2003 est.)

Household income or consumption by percentage share:

lowest 10%: 3.4%
highest 10%: 23.5% (2002)

Distribution of family income - Gini index:

29.7 (2002)

Investment (gross fixed):

30.8% of GDP (2007 est.)

Budget:

revenues: $20.75 billion
expenditures: $20.87 billion (2007 est.)

Fiscal year:

calendar year

Inflation rate (consumer prices):

8.4% (2007 est.)

Central bank discount rate:

10% (31 December 2007)

Commercial bank prime lending rate:

8.58% (31 December 2007)

Stock of money:

$4.065 billion (31 December 2007)

Stock of quasi money:

$6.823 billion (31 December 2007)

Stock of domestic credit:

$12.16 billion (31 December 2007)

Agriculture - products:

grain, potatoes, vegetables, sugar beets, flax; beef, milk

Industries:

metal-cutting machine tools, tractors, trucks, e