FX.co ★ Belarus Industrial Output Contracts for First Time in Over 2 Years

In the first seven months of 2025, Belarus experienced a 0.3% year-on-year decline in industrial production, marking the first downturn since February 2023. This drop reverses the 0.3% growth observed during January to June. The decrease was primarily driven by declines in the manufacturing sector (-0.6%) and the water supply, waste management, and remediation sector (-0.5%). However, these losses were partially mitigated by positive performance in the mining and quarrying sector, which grew by 2.8%, and the electricity, gas, steam, hot water, and air conditioning supply sector, which increased by 1.6%.