Belarus Overview

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Capital City: : Minsk

The Byelorussian economy remains rigidly set in the soviet model, although it resisted the USSR disappearance better than other countries (at the end of 1999, its GDP accounted for 89% of 1990's GDP). Agriculture is a good example: collective farms occupy 82% of the agricultural land. More generally, private companies are still a minority (public companies provide 60% of the industrial production), that's why foreign investments are minimized.

The growth of the country is staggering and the inflation rate is still very high (169% in 2000), which increases poverty. The balance of trade structurally has been in deficit. The consumer goods market is still facing shortages. The principal industrial productions of Byelorussia are machines (world's 3rd largest producer of tractors), chemicals, electronic goods, construction material and wood. Agriculture contributes to 15% of the GDP.

The economy is largely dependent on Russia: in 2002, 65% of imports and 53% of exports were achieved with the neighbouring Russia. The economic and financial support from Russia is crucial for Byelorussia because the country gets less and less support from the European Union and the United States.