Express Analysis. May 2024

Belarus' GDP continued growing in April, and the likelihood of the growth to get close to 3% or higher in 2024 has increased significantly
GDP grew by 5.1% YoY over the four months of 2024, and it grew by ≈7.6% YoY in April only. Seasonally adjusted output was ≈2% higher in April versus March, and it was about 4% above its 2021 average value. The sectors of agriculture, construction, ICT and paid services largely supported economic growth in April. Seasonally adjusted industrial output and retail trade dynamics weakened slightly, while output remained extremely high. GDP volume is likely to decline through adjustment in May-June, which will correspond to the accumulated annual output growth of about 4–5% YoY.