Belarusian Economy
Belarusian EconomyBelarusian Economy
Belarus�s economy has done fairly well from the situation it started in. The economy has some strengths, but it is also not without its weaknesses. Also the Republic has not done yet enough to restructure its economy after the break up of the USSR.
Belarus has a fairly well balanced economy with an agriculture capable of feeding its population and a well developed industrial base. Belarusian industry is capable of producing 1.1 million tons of steel per year, and it manufactures machine tools, agricultural machinery, motor vehicles. It also has a well developed chemical manufacturing plants, and there is also a branch of industry for consumer goods such as radio, television sets and bicycles. Furthermore its industrial construction complex ensures a considerable scope of construction. The Republic also has a diversified agricultural crop ranging from potatoes and grain to flax and livestock. The agricultural sector accounts for 20% of the GDP while the industrial around 43%. Besides helping to develop the industry, Russia helped to develop the infrastructure of Belarus making most of the country accessible. Belarus has a reasonably well developed industry and a long history of agricultural development.
Problems for the economy of Belarus began to arise after the collapse of the Soviet Union. The weakness with Belarusian industry is two-fold. It has to import much of its raw materials from other nations and it imports most of its energy. As a result industry came under severe economic pressure shortly after independence. The problem with its agriculture is that it that about two thirds of the peasants are still organized into collective farms and the remainder in state farms. A few private farms were established but the treatment they received from the state discouraged other from trying. Also Belarus has a 14% trade deficit, which increase the...
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