Belarus's economy is export-based (with export accounting for 50 percent of the Gross Domestic Product). The country is one of the world's biggest exporters of trucks, tractors, road construction equipment and municipal vehicles.
The Republic of Belarus is an open economy maintaining business relations with 150 countries.
Belarus holds leadings positions in the CIS in chemical and processing industries, some areas of information and communication technologies. The country has good traditions and achievements in high technology: optic and laser devices, automated control systems.
Among the Belarusian industries running on local raw materials the most attractive for investors are timber processing, meat and dairy industries, flax production, manufacture of mineral water, soft drinks and construction materials.
For many years Belarus has enjoyed a sustainable economic growth. The annual GDP growth hovers around 8 percent. Belarus was among the few countries who managed to sustain a GDP growth in the crisis year of 2009.
In January-April 2010 GDP increased by 6.1 percent. By the end of the year the growth is expected to reach at least 11 to 13 percent. In January-April inflation was 3.1 percent as against 6.5 percent in the same period a year ago.
Belarus ranks fourth among the top 10 regulatory reformers in the world. The country seeks to make it to the top thirty countries with the best business conditions.
Belarus ranks first in the CIS in the number of fixed telephone landlines per 100 people - 36.5 (cf. 23 in Russia, 26 in Ukraine). Over 88 percent of Belarusians are cell phone subscribers and 38 percent are Internet users.
Belarus was the first in the CIS to declare 2010 the Year of Quality. For Belarus the Year of Quality means better living standards and security of people, environmental wellbeing and competitiveness of Belarusian products on international market.
Free Economic Zones
NAFTAN Oil Refinery Plant