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Major economic spheres of Belarus

The economic potential of Belarus is based on a number of industries which account for almost 40% of the basic production assets. Over 2,300 different plants which produce about 30% of the gross domestic product function in the country. The key industries are

  • engineering, metalworking,
  • chemical and petrochemical industry,
  • light and food industries,
  • forest and wood industries,
  • production of construction materials,
  • pharmaceutics and microbiology.

Many Belarusian enterprises are currently at the stage of modernization aimed at reducing the energy consumption and installation of modern equipment. Re-equipment of enterprises is laid in the development program of the industrial complex of the republic for the period until 2020. It is planned that the updated lines will focus on knowledge-intensive industries of the economy. 

Moreover, a holding model of business organization is being formed in Belarus. The enterprises of the most important segments become a unifying core for industrial holdings.

The largest holding structures are created on the basis of joint-stock companies, in which 100% of the authorized capital is owned by the state. Currently, such holdings as “Horizont”, “BelOMO”, “BelavtoMAZ”, “Avtokomponenty”, “Belstankoinstrument”, “Belarusian Metallurgic Company “Amkodor” are registered. The registration of two more holdings – “BelAZ” and “Lidselmash” — is coming to an end. It is planned to create the holding “Belkeramika”, which will include OJSC “Minsk Plant of Construction Materials”, “Radoshkovichi Ceramic Factory”, “Keramin” and “Berezastroymaterialy”, and the glasswork association “Belsteklo” will include the joint-stock companies “Gomelsteklo”, “Grodno Glass Plant” and “Glass Plant “Neman”.

The agroindustrial complex of Belarus is also one of the most important segments of the economy, the basis of the food industry. The main trends of the agroindustrial complex are livestock breeding and crop growing. Belarus exports agricultural products to 35 countries of the world. 

The export potential of Belarus is based on such positions as trucks, tractors, television sets, refrigerators, chemical fiber, potassium fertilizers, textile products, light and food industries.