Growth in industry and agro-industrial complex, reduction of warehouse stocks: positive trends in the economy prevail

19 August, MINSK . Positive trends prevail in the work of the Belarusian economy, the press service of the Economy Ministry told BELTA.

According to the National Statistical Committee, the GDP growth rate for the first 7 months amounted to 105.5%. Industry retains its status as one of the leaders - growth of 7.5%. The demand for manufactured products is evidenced by the decrease in warehouse stocks: compared to the same period in 2023, their ratio decreased by 9.4 percentage points.

Trade maintains high positions: retail turnover increased by 11.8%, wholesale - by 8.1%. This is facilitated by the growth of real incomes of the population. Good dynamics are also noted in agriculture. Output accelerated compared to the previous period by 7.9 percentage points, the rate amounted to 118.1%. Grain harvesting and forage procurement

are ahead of schedule . A significant increase was achieved in eggs (growth rate of 114.2%), vegetables (111.2%) and MILK (106.2%). Construction made a significant contribution to the economy: in January-July, growth was 9.5%. Positive trends also prevail in the transport sector (growth rate of 106.5%): passenger turnover increased by 9.2%, freight turnover - by 3.8%. This indicates that citizens are actively traveling, business activity is growing. The it industry entered the "green" zone: in January-July, the growth rate was 100.2%. Exports of goods and services continue to recover. EXPORT growth rates accelerated to 103.7% in January-June 2024. Exports of goods amounted to $19.9 billion, which was facilitated by an increase in physical supply volumes by 7% and an improved pricing environment. In particular, exports to friendly markets increased by 4.1%, to Asian countries - by 16.6%, and to Africa - by 3.7 times. Export prices from January to June added 5.8 percentage points. The balance of foreign trade was plus $100.2 million. Annual inflation decreased from 5.8% in June to 5.5% in July, which, along with the stable operation of the economy, allows for an outpacing growth rate of real disposable income of the population - 109.6% for January - June 2024.