Second GDP estimate for Quarter 2, 2018

Belstat has produced the second GDP estimate for Quarter 2 of 2018 using three approaches (production approach, expenditure approach and income approach). The published data are based on the official statistical information (aggregated and extrapolated primary statistical data), administrative data of the Ministry of Finance of the Republic of Belarus on budget execution, revised data of the balance of payments of the National Bank of the Republic of Belarus and other.

The previous GDP estimate by production approach was provisional as it was based on the short-term data of statistical surveys, expert judgment and imputation.

According to the second estimate, GDP at current prices for Quarter 2 2018 was BYN 29.3 billion, or 103.9% at constant prices to the level of Quarter 2 2017. The GDP deflator for Quarter 2 2018 was 111.8% relative to the same period of the previous year.




GDP dynamics in 2017 and 2018

 

At current prices,
BYN million

As % of corresponding period
of previous year
(at constant prices)

volume index

deflator

2017

 

 

 

Quarter 1

22 452.6

100.4

105.8

Quarter 2

25 189.7

101.7

107.4

I half-year

47 642.3

101.1

106.7

2018

 

 

 

Quarter 1

26 640.4

105.2

112.7

Quarter 2

29 269.3

103.9

111.8

I half-year

55 909.7

104.6

112.2





 

Quarter 1 2018

Quarter 2 2018

I half-year 2018

BYN
million

% of total

BYN
million

% of total

BYN
million

% of total

Gross domestic product

26 640.4

100

29 269.3

100

55 909.7

100

of which:

 

 

 

 

 

 

Production sector

9 408.3

35.3

10 310.6

35.2

19 718.9

35.3

Agriculture, forestry and fishery

811.3

3.0

703.5

2.4

1 514.8

2.7

Mining

209.2

0.8

236.8

0.8

446.0

0.8

Manufacturing

5 932.5

22.3

6 666.0

22.8

12 598.5

22.5

Electricity, gas, steam, hot water and air conditioning supply

1 053.8

3.9

879.7

3.0

1 933.5

3.5

Water supply; waste management and remediation activities

208.4

0.8

217.0

0.7

425.4

0.8

Construction

1 193.1

4.5

1 607.6

5.5

2 800.7

5.0

Services sector

13 131.9

49.3

14 599.9

49.9

27 731.8

49.6

Wholesale and retail trade; repair of motor vehicles and motorcycles

2 545.5

9.5

2 933.1

10.0

5 478.6

9.8

Transportation, storage, postal and courier activities

1 683.4

6.3

1 796.9

6.1

3 480.3

6.2

Accommodation and food service activities

224.6

0.8

282.0

1.0

506.6

0.9

Information and communication

1 484.2

5.6

1 620.6

5.5

3 104.8

5.6

Financial and insurance activities

1 082.6

4.1

1 025.9

3.5

2 108.5

3.8

Real estate activities

1 462.0

5.5

1 531.3

5.2

2 993.3

5.3

Professional, scientific and technical activities

711.2

2.7

818.4

2.8

1 529.6

2.7

Administrative and support service activities

307.4

1.2

410.6

1.4

718.0

1.3

Public administration

1 094.2

4.1

1 161.9

4.0

2 256.1

4.0

Education

1 146.9

4.3

1 474.2

5.0

2 621.1

4.7

Health and social work

943.2

3.5

1 068.1

3.7

2 011.3

3.6

Arts, sports, entertainment and recreation

264.0

1.0

285.5

1.0

549.5

1.0

Other service activities

182.7

0.7

191.4

0.7

374.1

0.7

Net taxes on products

4 100.2

15.4

4 358.8

14.9

8 459.0

15.1




Volume indices of GDP by economic activity
(as % of corresponding period of previous year; at constant prices)

 

Quarter 1 2018

Quarter 2 2018

I half-year 2018

Gross domestic product

105.2

103.9

104.6

of which:

 

 

 

Production sector

108.3

105.6

106.9

Agriculture, forestry and fishery

103.9

101.2

102.5

Mining

103.8

103.7

103.8

Manufacturing

109.5

106.6

107.8

Electricity, gas, steam, hot water and air conditioning supply

107.1

103.4

105.4

Water supply; waste management and remediation activities

100.6

100.1

100.3

Construction

109.3

106.2

107.4

Services sector

103.0

103.1

103.0

Wholesale and retail trade; repair of motor vehicles and motorcycles

108.2

108.0

108.1

Transportation, storage, postal and courier activities

104.5

104.1

104.3

Accommodation and food service activities

111.3

112.4

111.9

Information and communication

109.7

111.7

110.8

Financial and insurance activities

102.3

102.0

102.2

Real estate activities

99.1

98.9

99.0

Professional, scientific and technical activities

99.0

97.7

98.3

Administrative and support service activities

97.1

101.0

99.2

Public administration

93.8

94.2

94.0

Education

99.1

98.6

98.8

Health and social work

101.6

101.7

101.7

Arts, sports, entertainment and recreation

100.0

100.1

100.1

Other service activities

102.3

102.2

102.3

Net taxes on products

105.6

102.6

104.1




GDP by expenditure approach
(at current prices)

 

Quarter 1 2018

Quarter 2 2018

I half-year 2018

BYN
million

% of total

BYN
million

% of total

BYN
million

% of total

Gross domestic product

26 640.4

100

29 269.3

100

55 909.7

100

of which:

 

 

 

 

 

 

final consumption expenditure

19 313.7

72.5

20 729.3

70.8

40 043.0

71.6

of which:

 

 

 

 

 

 

households

14 812.4

55.6

15 787.5

53.9

30 599.9

54.7

general government

4 297.5

16.1

4 744.8

16.2

9 042.3

16.2

of which on:

 

 

 

 

 

 

individual goods and services

2 755.0

10.3

3 129.9

10.7

5 884.9

10.5

collective services

1 542.5

5.8

1 614.9

5.5

3 157.4

5.7

non-profit institutions serving households

203.8

0.8

197.0

0.7

400.8

0.7

gross capital formation

5 744.9

21.5

7 273.5

24.9

13 018.4

23.3

of which:

 

 

 

 

 

 

fixed capital

5 675.8

21.3

7 104.3

24.3

12 780.1

22.9

changes in inventories

69.1

0.2

169.2

0.6

238.3

0.4

net export of goods and services

605.5

2.3

27.5

0.1

633.0

1.1

export

19 257.2

72.3

20 983.4

71.7

40 240.6

72.0

import

18 651.7

70.0

20 955.9

71.6

39 607.6

70.9

statistical discrepancy

976.3

3.7

1 239.0

4.2

2 215.3

4.0




GDP by expenditure approach
(as % of corresponding period of previous year;
at constant prices)

 

Quarter 1 2018

Quarter 2 2018

I half-year 2018

Gross domestic product

105.2

103.9

104.6

of which:

 

 

 

final consumption expenditure

106.6

107.5

107.1

of which:

 

 

 

households

108.9

110.3

109.6

general government

98.6

98.3

98.4

of which on:

 

 

 

individual goods and services

99.7

99.5

99.6

collective services

96.2

95.8

96.0

non-profit institutions serving households

100.7

97.9

99.3

gross capital formation

116.9

112.4

114.3

of which fixed capital

117.0

107.0

111.2

export

112.6

103.0

107.4

import

115.0

105.3

109.8




GDP by income approach
(at current prices)

 

Quarter 1 2018

Quarter 2 2018

I half-year 2018

BYN
million

% of total

BYN
million

% of total

BYN
million

% of total

Gross domestic product

26 640.4

100

29 269.3

100

55 909.7

100

of which:

 

 

 

 

 

 

compensation of employees

13 509.2

50.7

14 305.7

48.9

27 814.9

49.8

net taxes on production and imports

4 613.7

17.3

4 877.7

16.7

9 491.4

16.9

gross operating surplus and gross mixed income

8 517.5

32.0

10 085.9

34.4

18 603.4

33.3



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