North America

Central & South America

Europe

Africa

Asia & Middle East

Southeast Asia & Oceania

map

Belarus Business Report

General information
Source: The World Factbook - Central Intelligence Agency
flag
Population
9,527,543 (July 2018 est.)
GDP (PPP)
$179.4 billion (2017 est.)

State-owned entities account for 70-75% of GDP

GDP growth rate
2.4% (2017 est.)

Back to growth after 4 years of stagnation. The main reason of poor GDP growth in previous years was the of falling global prices on key Belarusian export commodities

GDP (PPP) per capita
$18,900 (2017 est.)

Low

Local currency
Belarusian ruble (BYN)

New ruble (BYN) was introduced in 2016. Quite stable in the last 2 years.

Financial stability (Public debt)
53.4% (2017 est.) of GDP

Medium to low and quite stable

Inflation
6.0% (2017 est.)

Still high. However, lower than sky-high levels of the past years

Language
Russian (70.2%) and Belarusian (23.4%) both official

English is not widely spoken

Corruption perception index (Source: Transparency International)
Rank 70/180

High level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% standard VAT rate
10% reduced VAT rate (supplies of crop products, wild-growing, beekeeping, livestock, and fisheries only if come from Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan. Reduced VAT rate is applied to listed food and goods for children even if are imported from other Countries); 0% VAT rate on a some products/services; 25% VAT rate is applied to telecommunication services
Corporate Tax
18% standard rate
25% rate for banks and insurance companies
Duties

Eurasian Economic Union (EAEU) Customs Code

Whether you are looking for a European importer or you are just interested in Europe business, Globartis is the right platform for you!

We have a strong position in Europe B2B and Europe trade. If you are interested in doing business in Belarus, or in finding Belarusian manufacturing companies, we can help you.

Thousands of companies in Belarus and Belarusian SMEs use Globartis for their operations. Join our network today and find the right partner for your Belarus business. Connect with a Belarusian manufacturer or Belarus importer, or source among Belarus export to find the right product.

Join now and grow your business in Minsk, one of the best cities for doing business in Eastern Europe.

Copyright © Globartis 2021 - Version 3.1.7 - Last update 06-jun-21 - Powered with by  Giplo