Belarus GDP down 1.9%, industrial production down 5.8%

Compared to January 2019, the gross domestic product of Belarus has decreased by 1.9%, reports Industrial production in Belarus has decreased by 5.8%.

In January, the GDP amounted to 10.4 billion BYN in current prices. Earlier, Prime Minister Syarhei Rumas warned that Belarus’ GDP would decline in January due to problems with petrochemicals and production of potash fertilizers.

According to the National Statistics Committee, in January 2020, industrial production amounted to 94.2% of the level of January 2019 (5.8% reduction). In current prices, the production volume amounted to 8.5 billion rubles.

The production decrease in the mining industry amounted to 3.6%, in manufacturing to 5%, in the field of electricity, gas, hot water and air conditioning to 10.5%. Only in the “water supply, waste collection, processing and disposal, and pollution elimination activities” sector there was a 1.1% increase.

Simultaneously, agricultural production increased by 4.5% in January 2020. Production has amounted to 957.3 million BYN. Agricultural organizations produced goods for 924 million rubles, or 4.9% more in comparable prices than in the corresponding month of the previous year.