Investing in Belarus in 2026
Europe & Central Asia
30
Score
Caution Investment Destination
Significant risks present - experienced investors with hedging strategies
Belarus earns an investment score of 30/100, placing it in the caution category for global investors. Significant risks present - experienced investors with hedging strategies. The country's standout dimensions are growth potential (42/100) and financial strength (38/100), with overall GDP of $73.5B and per-capita output of $7,850. Growth is running at 2.2% with 1.8% of GDP arriving as foreign direct investment. Inflation is contained at 5.5%. The sovereign holds a NR credit rating, generally considered speculative-grade with elevated default risk. Investment opportunities cluster around IT Services (sector score 48/100, currently declining), which represents 5.8% of GDP. Trade openness sits at 125% of GDP, a useful proxy for how integrated Belarus is with the global economy.
How Belarus's investment score has evolved over time
IT Services
5.8% of GDP, declining
Manufacturing
22.5% of GDP, declining
Agriculture
6.8% of GDP, stable
Petrochemicals
8.2% of GDP, declining
World Bank Governance Indicators (-2.5 to +2.5, higher is better)
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Is Belarus a safe country to invest in?
Belarus carries a caution risk rating with an overall investment score of 30/100. Significant risks present - experienced investors with hedging strategies. Sub-scores: economic health 32/100, political stability 12/100, business climate 28/100, financial strength 38/100, growth potential 42/100.
What is Belarus's sovereign credit rating?
Belarus holds a credit rating of NR, reflecting its ability to meet sovereign debt obligations. Credit ratings are a key signal of macro-financial health and a prerequisite many institutional investors require before allocating capital.
What are the strongest sectors for investment in Belarus?
The top investment sectors in Belarus are IT Services, Manufacturing, Agriculture. IT Services leads with a sector score of 48/100 and represents 5.8% of GDP. Its current trend is declining.
What is Belarus's GDP growth rate?
Belarus's most recent GDP growth was 2.2%, with total GDP of $73.5B and GDP per capita of $7,850. Inflation is running at 5.5% and the current account balance is -0.8% of GDP.
How does Belarus score on governance and rule of law?
On the World Bank Governance Indicators (scale -2.5 to +2.5, higher is better), Belarus scores: political stability -0.8, rule of law -1.1, corruption control -0.7, and regulatory quality -0.9.
Can foreigners invest in Belarus?
Most industries in Belarus are open to foreign direct investment, though specific sectors may require a local partner, government approval, or special licensing. Consult a qualified local advisor for restrictions that apply to your sector.
What is foreign direct investment (FDI) like in Belarus?
Foreign Direct Investment in Belarus runs at 1.8% of GDP, while the trade openness ratio (exports + imports as a share of GDP) stands at 125%. These figures show how integrated Belarus is with the global economy and how welcoming it has been to international capital.
What is the public debt level in Belarus?
Belarus's government debt stands at 38% of GDP. This is a relatively conservative debt load, supporting fiscal flexibility.