According to the data of the National Statistical Committee over Q1 2017, Belarus' GDP amounted to BYN 22,434.9 million, having increased by 0.3% as compared to the same period last year. Note that the GDP index exceeded 100% for the first time since 2015. The monthly GDP dynamics show that the GDP grew by 10.6% in March this year as compared to February.
Among the gross value added indices, the biggest growth was demonstrated by the processing industry (105.1%), transport activities (103.3%), and mining industry (102.2%).
The negative dynamics were demonstrated by the construction (94.9%), water supply; waste collection, treatment and disposal (96.6%), and wholesale and retail trade (99.4%). The construction notable decreased its lag as compared to January-February 2017 (85.6%).
Note that as compared to Q1 2016, the positive dynamics are observed by all kinds of activities, except for the agriculture, where the decrease is too insignificant.
In contrast to Q1 2016, when the GRP decreased in all regions, the GRP in Q1 2017 decreased in Vitebsk and Gomel Regions (due to the reduced oil refining) and in Mogilev Region (construction).
The maximum GRP growth in Minsk Region is caused by the low base of the last year.
The solution of the oil-and-gas dispute between Belarus and Russia in April 2017 allows reasonably reckoning on the maintenance of the current tendency to the GRP growth because the oil refining will accelerate the processing industry and wholesale trade, as well as the entire economy.