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EDB analysts explain why agricultural growth has slowed in Belarus
25.11.2024 10:25
Analysts from the Eurasian Development Bank have stated that Belarus is experiencing a slowdown in the growth rate of its gross domestic product.
If, according to the results of 9 months of this year, the republic’s GDP grew by 4.5%, then according to the results of 10 months – from January to October – it grew by 4.2%.
Experts published these figures in their traditional weekly report on the economic situation in the countries that are part of the EAEU.
This review, which also includes Belarus, is presented on the official EDB Telegram channel.
Industry and trade
According to the publication, the rate of growth of the industrial sector in Belarus has slowed, although it remains high.
Thus, according to the results of 10 months of 2024, growth of 6.2% was recorded, while for January-September it amounted to 7.4%.
According to analysts, “the contribution of industrial production to GDP growth” in Belarus is about 1.7 percentage points.
Trade accounts for about 0.6 percentage points of GDP growth (retail trade growth – 11.8%, wholesale turnover growth – 4.6%).
Agriculture
The contribution of agriculture, according to experts, amounted to approximately 0.2 percentage points.
They recorded a slowdown in the growth rate of the republic’s agricultural sector to 3.2% for January-October from 5.1% for January-September.
The EDB cites “reduced yields and late harvesting” as the reasons for this.
At the same time, experts note that investment activity has significantly increased in Belarus.
Thus, investments in fixed capital increased by 8.9% in January-October after 7.6% in January-September of this year.
For reference
The Eurasian Development Bank (EDB) is an international financial organization that carries out investment activities aimed at developing economies, trade and economic ties and integration processes in the countries of the Eurasian region.
