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Navigating Opportunities in a Transitional Economy
Published:
Prepared by: Belarus Ministry of Economy Research Division
Executive Summary
GDP growth stabilized at 2.9% in 2023 with 3.1% projection for 2024
IT sector exports reached $3.8 billion, growing at 15% annually
6 Special Economic Zones offering tax incentives and simplified procedures
Strategic location connecting EU and Eurasian Economic Union markets
Economic Performance
Key Indicators
Economic Indicators 2023-2024
Indicator
2023
2024 Projection
Trend
GDP Growth
2.9%
3.1%
↑
Inflation
6.2%
5.8%
↓
Unemployment
3.8%
3.6%
↓
FDI Inflow
$2.1B
$2.4B
↑
Sector Contributions
GDP by Sector (2023)
Sector
Share of GDP
Growth Rate
Industry
25.7%
3.2%
Agriculture
7.3%
2.1%
Services
47.5%
4.8%
IT Sector
6.1%
15.3%
Competitive Advantages
Industrial Strengths
Heavy Machinery: World's largest mining truck manufacturer (BelAZ)
Chemical Production: 3rd largest global potash exporter
Agricultural Output: Self-sufficient in food production with export surplus
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