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SMEs contribute 26.1% to Belarus' GDP

Christian Fernsby ▼ | May 21, 2020
The share of small and medium sized enterprises in the Belarusian gross domestic product made up 26.1% in 2019 (24.6% in 2018), BelTA learned from the National Statistical Committee.
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SME   Belarus street
Small business contributed 15.9%, medium-sized enterprises contributed 7% and self-employed business people contributed 3.2% to the country's GDP.

Topics: Belarus GDP

Revenues from selling products, works and services by SMEs in 2019 amounted to Br156 billion. Thus, their contribution to the nationwide revenues was 43.3%.

As of 1 January, there were 257,000 self-employed business people and 111,000 small and medium-sized enterprises, including 97,000 micro companies (87% of all SMEs), 12,000 small enterprises (11%) and 2,000 medium-sized companies (2%).

The SMEs are mostly involved in retail and wholesale trade, repairs of cars and motorcycles (35% of all SMEs and self-employed business people), transportation, warehousing, postal and delivery services (12%), professional, scientific and engineering activities (10%), manufacturing and construction (8%).