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Investment Position
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Main Indicators of the International Investment Position of the Republic of Belarus
USD mln
Indicators 01.01.200901.04.200901.07.200901.10.200901.01.201001.04.201001.07.201001.10.201001.01.201101.04.201101.07.201101.10.201101.01.2012
International Investment Position-13 389.3-15 119.6-17 060.1-17 200.9-18 834.4-19 629.9-20 566.5-22 939.1-25 843.9-29 142.8-30 174.0-29 815.4-28 723.6
as percent of GDP*-22.0%-25.7%-30.6%-33.2%-38.3%-39.5%-40.3%-43.4%-46.9%-50.1%-50.8%-51.2%-52.6%
Assets7 771.28 191.57 609.59 201.211 001.911 453.711 515.811 700.111 681.812 265.512 878.613 147.317 353.9
as percent of GDP*12.8%13.9%13.7%17.7%22.4%23.0%22.6%22.1%21.2%21.1%21.7%22.6%31.8%
including:
International reserve assets3 061.13 955.22 649.93 878.85 652.56 073.95 525.35 984.85 030.73 761.44 150.94 715.87 915.9
as percent of GDP*5.0%6.7%4.8%7.9%11.5%12.2%10.8%11.3%9.1%6.5%7.0%8.1%14.5%
in months of imports of goods and services**0.91.20.91.52.22.32.02.11.61.11.11.22.0
Liabilities21 160.523 311.124 669.626 402.129 836.331 083.632 082.334 639.237 525.741 408.343 052.642 962.746 077.5
as percent of GDP*34.8%39.6%44.3%50.9%60.7%62.5%62.9%65.6%68.1%71.1%72.5%73.8%84.3%
including:
External debt15 154.116 319.917 620.619 298.822 060.322 243.523 171.025 593.328 401.131 622.333 101.132 875.434 028.4
as percent of GDP*24.9%27.8%31.6%37.2%44.8%44.7%45.5%48.4%51.6%54.3%55.7%56.5%62.3%

* Indicators of the international investment position and the external debt correlate with the annual volume of GDP as at the end of the period. The annual volume of GDP in US dollars is calculated as the sum of GDP in US dollars for the 12 preceding months.

GDP in US dollars per month is calculated based on of the value of GDP in Belarusian rubles (data from the National Statistics Committee) and the value of the weighted average exchange rate of the Belarusian ruble versus the US dollar in the main trading session of OJSC "Belarusian Currency and Stock Exchange" (starting from 2011, the weighted average exchange rate of the Belarusian ruble in all segments of the foreign exchange market is used).

The international reserve assets should account for at least 8% of GDP, make it possible to do without external borrowings during 1 year and be sufficient to prevent the national currency from sharp devaluations and revaluations.

** In compliance with the approach recommended by the IMF, the volume of the international reserve assets is required to be equal to the volume of the country's three months of imports.

© National Bank, Republic of Belarus, 2000–2012