National Statistical Committee reveals key drivers of Belarus’ GDP growth

Chairperson of the National Statistical Committee Inna Medvedeva told the First News Channel what economic sectors make the biggest contribution to the country’s GDP growth, BelTA has learned.

“Almost all economic sectors make a positive contribution to GDP growth. Of course, the mainstays of our economy remain the drivers of growth. These are the manufacturing industry (up by 7.1%) and trade that is on the up and up now. Wholesale trade rose by 7.1%, which indicates that Belarusian goods sell well. Today’s amount of stocks of finished products suggests that we have no major problems with sales and that our products are competitive,” said Inna Medvedeva.

In Belarus, the increase in real disposable income (by 9.9% in January - July) stimulated the rise in retail trade (by 12%) and catering (by 12.1% in January - August). As a result, trade contributed 1% to GDP growth.

According to Inna Medvedeva, agriculture and construction generated 0.4% of GDP, while transport 0.3% of GDP with significant positive dynamics. She emphasized that the most important thing is maintaining balanced economic growth and internal stability.

Written by belta.by