Industry

Much of it's manufacturing industries are vehicular e.g. tractors, trucks, excavators, motorcycles as well as tools, radio and television sets. The textile industry is renowned for its hand crafts and glass goods. It has an industrial growth rate of approximately 4.5%. 


Agriculture

Belarus has quite similar vegetation to Ireland. Potatoes, vegetables, flax, sugar beet, grain, milk and beef are the main agricultural products. The topography is undulating, mostly very fertile, but with some marshland. 


Climate

The climate is transitional between maritime and continental with cold winters and cool, moist summers.


Population

It has a population of over 10 million and a negative growth rate of nearly -0.2%. This is partly due to sickness amongst children, with Thyroid Cancer and Leukaemia being significantly high. Women are afraid to have children, as there is a 25% chance of severe physical deformities and / or mental illness. This will affect the future social structure of the country.


Currency

The Belarussian rouble (BYR) is the currency used. Inflation is one of Belarus' major problems. In Dec.1999, 730,000BYR. bought $1. By Dec.2000 it cost 1,180,000BYR. to buy the same dollar, an inflation rate of almost 62% in one year alone.

On January 2000 the BYR was redenominated at a rate of one new rouble to 1000 old roubles, (a drop of 3 zeros).

When we were in Belarus in May 2000, both types of notes were in circulation. We experienced great confusion with the currency first hand.

On Jan 2002, one Dollar equals 1,655BYR (for comparison 1,655,000BYR in old currency)

On May 2004, a Dollar is worth 2000BYR apx.

On September 2005, one U.S. dollar is 2530 BYR

On April 2006, One U.S. Dollar is worth 2140 BY

January 2007, U.S. Dollar is worth 2130 BY
(A Euro is worth 2800 BY)

October 2007, A Euro is worth 3000 BY

Summary

Belarus had not much structural reform of it's economy since 1995 to 2005. Private enterprise had been stunted by state control on currency exchange rates and inflation was very high. In 1998 and '99 the harvests were poor, which assisted in further economic problems.

However currently, Belarus is enjoying a lot of inward investment from external sources, both from the east and west. With infracture inproving all the time the outlook looks good for Belarus, providing the world economy holds up.