Belarus:
Economy

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Economy - overview	Belarus's economy in 2006 posted more than 8% growth. Trade with Russia - by far its largest single trade partner - decreased in 2006, largely as a result of a change in the way the Value Added Tax (VAT) on trade was collected. Trade with European countries increased. Belarus has seen little structural reform since 1995, when President LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices and currency exchange rates and expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subject to pressure by central and local governments, e.g., arbitrary changes in regulations, numerous rigorous inspections, retroactive application of new business regulations, and arrests of "disruptive" businessmen and factory owners. A wide range of redistributive policies has helped those at the bottom of the ladder; the Gini coefficient is among the lowest in the world. Because of these restrictive economic policies, Belarus has had trouble attracting foreign investment, which remains low. Growth has been strong in recent years, despite the roadblocks in a tough, centrally directed economy with a high, but decreasing, rate of inflation. Belarus receives heavily discounted oil and natural gas from Russia and much of Belarus' growth can be attributed to the re-export of Russian oil at market prices. This growth will be threatened in 2007, however, when Russia raises energy prices closer to world market prices for Belarus. Russia is planning to increase Belarusian gas prices from $47 per thousand cubic meters (tcm) to $100 per tcm for 2007, gradually increasing to world prices by 2011. Russia has also 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 - 70% will go to Russia in 2007, 80% in 2008, and 85% in 2009.
GDP (purchasing power parity)	$83.1 billion (2006 est.)
GDP (official exchange rate)	$28.98 billion (2006 est.)
GDP - real growth rate	9.9% (2006 est.)
GDP - per capita	$8,100 (2006 est.)
GDP - composition by sector	agriculture: 9.2% industry: 41.7% services: 49.1% (2006 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)
Inflation rate (consumer prices)	7% (2006 est.)
Investment (gross fixed)	28.3% of GDP (2006 est.)
Budget	revenues: $13.24 billion expenditures: $13.76 billion (2006 est.)
Agriculture - products	grain, potatoes, vegetables, sugar beets, flax; beef, milk
Industries	metal-cutting machine tools, tractors, trucks, earthmovers, motorcycles, televisions, chemical fibers, fertilizer, textiles, radios, refrigerators
Electricity - production	29.08 billion kWh (2005)
Electricity - consumption	29.49 billion kWh (2005)
Electricity - exports	5.053 billion kWh (2005)
Electricity - imports	9.091 billion kWh (2005)
Oil - production	34,260 bbl/day (2004 est.)
Oil - consumption	165,000 bbl/day (2004 est.)
Oil - exports	249,900 bbl/day (2004 est.)
Oil - imports	378,200 bbl/day (2004 est.)
Oil - proved reserves	198 million bbl (1 January 2006)
Natural Gas - production	165 million cu m (2005 est.)
Natural Gas - consumption	19.47 billion cu m (2005 est.)
Natural Gas - exports	0 cu m (2005 est.)
Natural Gas - imports	19.31 billion cu m (2005)
Current account balance	$-1.512 billion (2006 est.)
Exports	$19.84 billion f.o.b. (2006 est.)
Exports - commodities	machinery and equipment, mineral products, chemicals, metals, textiles, foodstuffs
Exports - partners	Russia 34.7%, Netherlands 17.7%, UK 7.5%, Ukraine 6.3%, Poland 5.2% (2006)
Imports	$22.24 billion f.o.b. (2006 est.)
Imports - commodities	mineral products, machinery and equipment, chemicals, foodstuffs, metals
Imports - partners	Russia 58.6%, Germany 7.5%, Ukraine 5.5% (2006)
Reserves of foreign exchange and gold	$1.099 billion (2006 est.)
Debt - external	$5.929 billion (2006 est.)
Economic aid - recipient	$53.76 million (2005)
Currency (code)	Belarusian ruble (BYB/BYR)
Exchange rates	Belarusian rubles per US dollar - 2,144.6 (2006), 2,150 (2005), 2,160.26 (2004), 2,051.27 (2003), 1,790.92 (2002)
Fiscal year	calendar year

Belarus: Economy

Belarus:
Economy