In January 2026, Belarus's gross domestic product (GDP) decreased by 1.2% compared to January 2025. According to Belstat's data , the volume of GDP amounted to 23.3 billion Belarusian rubles, and the deflator index, which reflects the inflation level, was 109.9%.
Illustrative photo. Photo: "Nasha Niva"
The decline in GDP was mainly due to a decrease in industrial production: the volume of production amounted to 16.6 billion rubles in current prices, or 96.6% of the January 2025 level.
Individual sectors developed differently: mining — 98.7%, manufacturing — 92.5%, energy supply — 117.5%, water supply and purification — 97.1%.
The volume of freight transportation also decreased — by 0.5%.
At the same time, agriculture showed growth: agricultural production increased by 3.5%, to 1.94 billion rubles, mainly due to large agricultural organizations, where the growth was 3.8%. In livestock farming, there was an increase in the production of livestock and poultry by 4.3%, milk yields increased by 3.3%, and egg production — by 0.5%.
The January GDP decline calls into question the possibility of achieving annual forecast indicators. According to the Social and Economic Development Plan of Belarus for 2026, approved by the Council of Ministers and Lukashenka, GDP growth of 2.8% is envisaged.
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