Economy of Belarus
Belarus is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Belarus may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Belarus exports around $42.06 billion and imports roughly $45.17 billion. 0.5% of population in the country are unemployed. The total number of unemployed people in Belarus is 47,261. In Belarus, 6% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Belarus is low, indicating that it has a stable economy. Investors should consider Belarus to be a safe location for investments and other financial ventures. Government expenditure on education is 4.5% of GDP. The Gini Index of the country is 26.5. Belarus is experiencing high equality. Differences in income among citizens are only mildly significant. Belarus has a Human Development Index (HDI) of 0.786. Belarus has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Belarus is 2.163. The strength of legal rights index for Belarus is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.
Currency
The currency of Belarus is Belarusian ruble. The plural form of the word Belarusian ruble is rubles. The symbol used for this currency is Br, and it is abbreviated as BYN. The Belarusian ruble is divided into Kapyeyka; there are 100 in one ruble.
Credit rating
The depth of credit information index for Belarus is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Belarus has a credit rating score of B-, and the prospects of this rating are positive. According to the Moody's credit-rating agency, Belarus has a credit rating score of B3, and the prospects of this rating are watch negative.
Central bank
The prime lending rate of Belarus's commercial banks is 20. In Belarus, the institution that manages the state's currency, money supply, and interest rates is called National Bank of the Republic of Belarus. Locally, the central bank of Belarus is called Нацыянальны банк Рэспублікі Беларусь. The average deposit interest rate offered by local banks in Belarus is 18.6%.
Public debt
Belarus has a government debt of 66.1% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information
The corporate tax in Belarus is set at 18%. Personal income tax ranges from 12% to 17%, depending on your specific situation and income level. VAT in Belarus is 20%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Belarus is $172755 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Belarus was last recorded at $18 million. PPP in Belarus is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Belarus is 71,710 billion. Based on this statistic, Belarus is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Belarus was last recorded at $8 million. The average citizen in Belarus has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Belarus averaged 0.9% in 2014. According to this percentage, Belarus is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Belarus.
Industry
Major industries in the country are metal-cutting machine tools, tractors, trucks, earthmovers, motorcycles, televisions, synthetic fibers, fertilizer, textiles, radios, refrigerators. The total labor force of Belarus is 5,048,870 people, wherein 0.5% of population in the country are unemployed. The total number of unemployed people in Belarus is 47,261. The Industrial Production growth rate of Belarus is -6.8%.To read more about industrial information within Belarus click on industry of Belarus.
Agriculture
There are 55575 km2 of arable land in Belarus, and it comprises 27% of the country's total territory. There are 56821 km2 of cultivated land in Belarus. The country's major agricultural crops and products are grain, potatoes, vegetables, sugar beets, flax, beef, milk.To read more about agriculture click on agriculture of Belarus.