Economic Overview

Belarus presents a distinctive mixed economy with:

  • GDP Growth: 2.8% (2023 projection)
  • Inflation: 6.2% (down from 12.8% in 2022)
  • Key Industries: Machinery, Chemicals, IT, Agriculture

Competitive Advantages

Industrial Capacity

  • World's largest dump truck manufacturer (BelAZ)
  • Top 3 global potash fertilizer exporter
  • Modernized agri-food processing facilities

Digital Economy

  • High-Tech Park generates 6% of GDP
  • Over 60,000 IT professionals
  • 0% income tax for IT companies until 2049

Geographic Benefits

  • Central location in Europe-Asia trade routes
  • China-Belarus Industrial Park ("Great Stone")
  • Member of Eurasian Economic Union (EAEU)

Operational Considerations

Factor Details Rating (1-5)
Business Registration 3 working days average 4
Tax Burden 20% VAT, 18% profit tax (reduced in SEZs) 3
Labor Quality 93% higher education rate 5

Growth Sectors

  1. Renewable Energy

    700MW capacity target by 2025

  2. Medical Equipment

    Import substitution program in EAEU

  3. E-Commerce Logistics

    New fulfillment centers serving Eurasian market

Risk Factors

  • Currency controls and convertibility issues
  • Dual sanctions compliance requirements
  • State participation in key economic sectors