Belarus’ GDP Grows 1.5% in First Half of the Year

Belarus’ gross domestic product (GDP) totaled 149.56 billion Belarusian rubles in January–June. In constant prices, it grew by 1.5% compared with the same period last year. GDP growth stood at 0.9% after the first five months of the year, while the economy had contracted during the January–March period.

The GDP deflator index reached 113.3% in January–June.

It is worth noting that, under the official socio-economic development forecast approved by Aliaksandr Lukashenka, Belarus’ GDP is expected to grow by 2.8% in 2026. International financial institutions, by contrast, forecast growth of around 1.3%.

Labour productivity, measured by GDP, increased by 0.6% in January–May to 29,293.1 Belarusian rubles.

Agricultural output across all categories of farms totaled 3.1 billion Belarusian rubles in June, up 5.9% year-on-year. Output by agricultural enterprises also rose 5.9% to 2.97 billion Belarusian rubles. Over the first six months of the year, agricultural production increased by 4.7% to 13.58 billion Belarusian rubles across all farm categories and by 4.9% to 13.32 billion Belarusian rubles at agricultural enterprises.

In June, agricultural enterprises produced 155,600 tonnes of livestock and poultry, up 5.1% from a year earlier, while milk production increased by 3.9% to 801,500 tonnes. During the first half of the year, livestock and poultry production rose by 5.3% to 925,300 tonnes, while milk output increased by 2.9% to 4.62 million tonnes.

Industrial production totaled 18.66 billion Belarusian rubles in June, increasing by 2.8% in constant prices compared with June 2025. However, industrial output for the first six months of the year declined by 0.7% to 107.2 billion Belarusian rubles.

Industrial inventories stood at 11.77 billion Belarusian rubles as of July 1, down by 140 million Belarusian rubles from June 1. Inventory levels amounted to 82.5% of average monthly production, a decline of 1.6 percentage points over the month.

Investment in fixed capital reached 5.72 billion Belarusian rubles in June, an increase of 15.7% year-on-year. Over the first half of the year, investment rose by 4.1% to 26.52 billion Belarusian rubles.

A total of 555,700 square metres of housing was commissioned in June, up 9% from a year earlier. Construction of state-supported housing, however, declined by 17.5% to 85,100 square metres. In January–June, total housing completions fell by 11.6% to 1.63 million square metres, while state-supported housing construction dropped by 32.6% to 237,300 square metres.

Freight turnover increased by 1.5% in the first half of the year to 35.67 billion tonne-kilometres, while passenger traffic rose by 0.4% to 837.6 million passengers.

Retail trade turnover reached 9.63 billion Belarusian rubles in June, up 9.6% compared with June 2025. For the first half of the year, retail turnover increased by 7.2% to 54.19 billion Belarusian rubles.

Wholesale trade turnover rose by 0.8% in June to 15.6 billion Belarusian rubles. However, over the first six months of the year it declined by 0.4% to 89.48 billion Belarusian rubles.

Turnover in the catering sector increased by 3.9% in June to 688.2 million Belarusian rubles. Over the first half of the year, it grew by 1.1% to 3.78 billion Belarusian rubles.