Belarus is one of the most economically developed CIS member-states. About one third of the gross national product is created by the industry. Among the developed branches of the economy are automobile and tractor building, agricultural machinery construction, machine-tools and bearings production, the electro-technical industry, oil extraction and processing, synthetic fiber and mineral fertilizer production, the pharmaceutical industry, construction materials manufacturing, as well as the food sector and various other light industries. A particular feature of the national industry is that most of its products come ready-made, fully prepared for immediate export.

Machine-building and metal processing are the leading industries in the Republic of Belarus. The branch structure of machine-building is extremely multifaceted, as it comprises the electro-technical industry, the chemical and the petroleum chemical industry, the machine-tool building and the instruments assembly sector, the automobile and the bearing industries, as well as the road construction field.

The radio & electronics industry of Belarus specializes mainly in the fields of producing computer parts, mobile automated control systems, optical devices, communications systems, aviation equipment, telemetric equipment, as well as armaments and military machinery. Most enterprises of the radio & electronics branches of the industry have a well-developed production potential, a highly qualified labor force, and a staff of knowledgeable engineers and technicians. The main types of electro-technical products manufactured in the Republic of Belarus are AC electric motors, illumination lamps, cables and wires for electric consumer products, and control blocks.

The leading enterprises of the Belarusian chemical complex were commissioned in the 1970’s with the assistance of Russian, English, German, Japanese, and American specialists. In later decades, the operating production facilities were upgraded more than once and equipped with newest domestically-produced and imported equipment. These innovations allow Belarusian companies to produce high-quality chemical products that are in constant demand in many countries of the world. Such Belarusian products, as chemical fibers and threads, glass fabrics and polymer materials, fertilizers and tires, lacquers and paints, enjoy great popularity and are imported to many countries of Europe, North America, and Asia.

During the recent years, all light industries of Belarus experienced great development. The leading role belongs to the textile, the sowing, and the footwear sectors. These industries are involved in manufacturing a wide range of products – various types of threads, yarn, and fabrics from flax, cotton, wool, and synthetic materials; carpets and carpet fabric items, non-woven materials, knitted ware, socks, stockings, sown products, corset articles, products from natural and artificial leather, artificial and natural fur, footwear, etc. Most light industry enterprises actively cooperate with foreign countries.

Almost half of Belarus’ territory is covered with agrarian area. State-run farms (kolkhoses and sovkhoses) are main producers of agrarian goods. The private farmers’ movement is still in the state of development.

The geographic position of the Republic of Belarus and the country’s climate allow for the production of such agricultural commodities as milk, beef, pork, eggs, grain, potato, flax, beet-root, etc. Great attention is paid to the technical retooling of the agricultural products processing industry.

Research in the fields of quantum electronics, solid-state physics, genetics, chemistry, and  powder metallurgy is conducted at the Academy of Sciences of the Republic of Belarus, at the Belarusian State University, and at many other institutes for applied and fundamental science.

Market Transformations in Economy

The Republic of Belarus is on its way to building a market economy. In recent years, entrepreneurial structures in Belarus have been developing steadily. The banking and financing sector has undergone a denationalization. The domestic market has become saturated with locally-produced and imported goods.

Economic reforms in the Republic of Belarus are carried out along several directions. The proposed restructuring measures include the reorganization of state-controlled enterprises, the denationalization and the privatization of state property, the establishment of fair competition, the step-by-step liberalization of all economic processes, as well as the creation of favorable investment conditions.