Belarus’ GDP continued growing in April.
In April 2023, the Belarusian economy grew by ≈4% versus April 2022. GDP (seasonally adjusted) increased by ≈0.8–0.9% by March 2023. The economy’s adaptation to sanctions leads
to a gradual output recovery, but its volume in April 2023 was still below the monthly average value in 2019. The trade sector made the largest contribution to annual GDP growth in April. The wholesale segment was supported by increasing exports of potassium, vehicles and, possibly, schemes for re-exporting goods to Russia through Belarus. Retail trade grew significantly due to increased consumer demand amid the continued implementation of a loose monetary policy. The dynamics of industrial production slowed down in April 2023, including due to a large-scale decline in oil refining output, which could be temporary. The weakness of the ICT sector and the reduction in energy generation hampered GDP growth.