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Economy of Belarus vs Iran compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $437B for Iran, ranking 83/197 and 37/197 by economy size, respectively.

Belarus has $33.7B in government debt (42.9% of GDP), compared to $161B (39.9% of GDP) in Iran.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Belarus
GDP, current $

GDP, constant 2015 $
Iran
GDP, current $

GDP, constant 2015 $
Year GDP
Belarus Iran
Current $ Constant $ Current $ Constant $
1960 - - $4,199,134,390 $50,350,548,203
1961 - - $4,426,949,095 $55,582,432,558
1962 - - $4,693,566,416 $59,978,596,071
1963 - - $4,928,628,018 $64,202,333,927
1964 - - $5,379,845,648 $69,643,628,269
1965 - - $6,197,319,929 $81,507,915,873
1966 - - $6,789,938,672 $90,883,288,326
1967 - - $7,555,383,690 $101,110,205,808
1968 - - $8,623,172,960 $115,674,304,557
1969 - - $9,743,089,607 $133,623,091,839
1970 - - $10,976,245,154 $148,224,891,000
1971 - - $13,731,802,833 $168,534,047,458
1972 - - $17,153,463,263 $192,969,825,710
1973 - - $27,081,698,250 $207,330,025,747
1974 - - $46,209,092,072 $219,357,345,963
1975 - - $51,776,222,350 $218,641,766,675
1976 - - $68,055,295,081 $258,566,705,735
1977 - - $80,600,122,702 $251,395,157,267
1978 - - $77,994,316,621 $219,113,865,436
1979 - - $90,391,877,326 $192,774,712,987
1980 - - $94,362,275,580 $151,136,050,943
1981 - - $100,499,312,750 $142,526,151,688
1982 - - $125,948,756,439 $175,551,236,248
1983 - - $156,365,156,618 $195,014,104,732
1984 - - $162,276,728,620 $181,090,389,202
1985 - - $180,183,629,600 $184,472,523,734
1986 - - $209,094,561,833 $166,422,061,469
1987 - - $134,009,995,923 $166,135,636,308
1988 - - $123,057,861,334 $156,031,272,523
1989 - - $120,496,362,916 $165,599,290,647
1990 $17,389,558,233 $29,435,120,618 $124,813,263,926 $188,112,392,401
1991 $18,404,907,975 $29,081,900,435 $131,637,664,958 $212,033,043,459
1992 $16,939,790,094 $26,290,037,656 $119,768,691,217 $219,025,854,895
1993 $16,275,073,527 $24,291,994,261 $63,743,623,231 $215,803,959,419
1994 $14,931,435,232 $21,449,829,995 $71,841,461,172 $212,138,990,732
1995 $13,972,683,274 $19,219,047,590 $96,419,225,745 $217,232,542,412
1996 $14,756,846,154 $19,757,181,802 $120,403,931,883 $231,027,951,541
1997 $14,130,585,516 $22,009,501,596 $113,919,163,421 $234,147,751,321
1998 $15,221,352,699 $23,858,297,858 $110,276,913,362 $239,018,052,132
1999 $12,138,243,081 $24,669,479,794 $113,848,450,089 $243,804,857,658
2000 $12,736,780,455 $26,100,310,428 $109,591,707,801 $258,056,537,600
2001 $12,354,820,144 $27,333,629,973 $126,878,750,296 $264,229,695,673
2002 $14,594,900,945 $28,712,684,737 $128,626,917,504 $285,576,361,692
2003 $17,825,444,724 $30,734,974,395 $151,911,222,120 $310,248,155,726
2004 $23,141,566,293 $34,254,050,014 $187,754,571,247 $323,702,581,959
2005 $30,210,091,837 $37,473,931,238 $224,970,371,329 $334,028,060,130
2006 $36,961,894,281 $41,221,322,382 $265,602,187,406 $350,728,779,278
2007 $45,275,711,996 $44,766,358,828 $349,736,591,836 $379,333,424,180
2008 $60,752,106,347 $49,332,527,214 $406,070,949,551 $380,285,006,931
2009 $50,873,167,326 $49,431,189,908 $414,059,094,950 $384,115,942,808
2010 $57,231,904,543 $53,262,115,562 $487,069,570,461 $406,386,748,156
2011 $61,762,382,328 $56,218,149,512 $629,082,257,472 $417,138,595,177
2012 $65,685,890,439 $57,178,272,623 $644,019,315,004 $401,507,697,046
2013 $75,527,558,966 $57,749,323,055 $500,399,839,840 $395,396,833,391
2014 $78,813,069,121 $58,702,836,384 $462,284,793,281 $415,106,476,158
2015 $56,454,769,845 $56,454,769,845 $409,191,686,497 $409,191,686,497
2016 $47,723,545,321 $55,028,470,324 $459,042,684,193 $445,262,288,195
2017 $54,725,405,751 $56,421,892,170 $489,168,731,811 $457,544,871,773
2018 $60,031,026,576 $58,198,729,041 $398,880,231,367 $449,135,162,389
2019 $64,410,170,653 $59,040,547,745 $333,519,146,339 $435,344,072,057
2020 $61,371,673,345 $58,643,356,622 $262,186,179,356 $449,842,285,446
2021 $69,673,747,132 $60,073,587,235 $383,436,202,447 $471,073,841,462
2022 $73,775,179,925 $57,275,121,700 $394,362,621,793 $488,864,564,083
2023 $72,478,760,370 $59,638,602,548 $404,625,655,076 $513,527,244,544
2024 $75,961,865,472 $62,030,020,173 $436,906,331,672 $529,138,474,367

Economic indicators

Belarus Iran
Gross domestic product
$76B
2024
$437B
2024
GDP rank
83/197
2024
37/197
2024
GDP growth
4.81%
2023-2024
7.98%
2023-2024
GDP per capita
$8,317
2024
$4,771
2024
GDP per capita rank
95/197
2024
122/197
2024
GDP per capita, PPP
$33,006
2024
$18,442
2024
Government debt
$33.7B
2024
$161B
2024
Debt-to-GDP ratio
42.9%
2025
39.9%
2025
Government debt per person
$3,691
2024
$1,758
2024
Government debt per person rank
94/185
2024
121/185
2024
Average annual personal income after taxes
$6,343
2025
$2,970
2025
Market capitalization of domestic companies
$6.01B
2024
$172B
2024
Income share by richest 10%
20.7%
2020
28.2%
2023
Income share by poorest 10%
4.5%
2020
2.8%
2023
Government expenditure, % of GDP
41.3%
2025
15%
2025
Consumer prices inflation
7%
2024-2025
32.5%
2023-2024
Central bank interest rate
9.75%
2025
23%
2023
Unemployment rate
3.46%
2023
8.13%
2023
Population
9074112
93020793

GDP per capita in Belarus vs Iran

Belarus' GDP per capita is $8,317, ranking 95/197, compared to $4,771 in Iran, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,006, while Iran ranks 101st at $18,442.

Belarus
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
Year Current $
Belarus Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $195.6 -
1961 - - $200.1 -
1962 - - $205.8 -
1963 - - $209.6 -
1964 - - $221.7 -
1965 - - $247.5 -
1966 - - $262.9 -
1967 - - $283.7 -
1968 - - $314 -
1969 - - $345 -
1970 - - $377 -
1971 - - $457 -
1972 - - $555 -
1973 - - $851 -
1974 - - $1,409 -
1975 - - $1,532 -
1976 - - $1,954 -
1977 - - $2,243 -
1978 - - $2,101 -
1979 - - $2,352 -
1980 - - $2,368 -
1981 - - $2,393 -
1982 - - $2,845 -
1983 - - $3,397 -
1984 - - $3,395 -
1985 - - $3,634 -
1986 - - $4,064 -
1987 - - $2,513 -
1988 - - $2,234 -
1989 - - $2,125 -
1990 $1,707 $5,220 $2,138 $7,256
1991 $1,805 $5,330 $2,194 $8,229
1992 $1,658 $4,917 $1,957 $8,524
1993 $1,590 $4,641 $1,038 $8,567
1994 $1,460 $4,190 $1,168 $8,585
1995 $1,371 $3,846 $1,550 $8,877
1996 $1,453 $4,039 $1,915 $9,510
1997 $1,397 $4,596 $1,790 $9,688
1998 $1,511 $5,061 $1,709 $9,864
1999 $1,211 $5,331 $1,740 $10,060
2000 $1,276 $5,796 $1,650 $10,729
2001 $1,244 $6,238 $1,881 $11,061
2002 $1,479 $6,697 $1,891 $12,041
2003 $1,820 $7,362 $2,209 $13,192
2004 $2,378 $8,483 $2,672 $13,835
2005 $3,126 $9,637 $3,132 $14,402
2006 $3,848 $10,995 $3,619 $15,256
2007 $4,735 $12,320 $4,688 $16,673
2008 $6,376 $13,886 $5,377 $16,831
2009 $5,352 $14,034 $5,416 $16,894
2010 $6,035 $15,339 $6,291 $17,866
2011 $6,528 $16,563 $8,026 $18,487
2012 $6,953 $18,115 $8,114 $16,325
2013 $7,998 $19,014 $6,223 $15,552
2014 $8,341 $19,038 $5,672 $15,408
2015 $5,967 $18,134 $4,953 $13,690
2016 $5,040 $17,832 $5,477 $14,573
2017 $5,786 $18,414 $5,753 $15,070
2018 $6,360 $20,026 $4,632 $14,840
2019 $6,838 $22,302 $3,831 $13,348
2020 $6,543 $24,872 $2,989 $14,110
2021 $7,490 $27,611 $4,335 $14,952
2022 $7,995 $28,429 $4,405 $16,424
2023 $7,897 $30,834 $4,466 $17,660
2024 $8,317 $33,006 $4,771 $18,442

Spending and national debt comparison

In 2024, Belarus' government spending was $31.1B, accounting for 41.3% of its GDP, while Iran's spent $64.6B, or 15% of GDP.

Debt-to-GDP ratio is 42.9% in Belarus and 39.9% in Iran, ranking 127/185 and 135/185, respectively.

Belarus
Government spending

Government debt
Iran
Government spending

Government debt
Year % of GDP
Belarus Iran
Government spending Government debt Government spending Government debt
1962 - - 15.6% 13.4%
1963 - - 14.8% 12.4%
1964 - - 15.4% 15.2%
1965 - - 16.3% 14.9%
1966 - - 20.5% -
1967 - - 22.3% -
1968 - - 23.6% -
1969 - - - -
1970 - - - 14.1%
1971 - - - 14.2%
1972 - - - 12.7%
1973 - - - 12.8%
1974 - - - 6.68%
1975 - - - 8.81%
1976 - - - 6.92%
1977 - - - 9.23%
1978 - - - -
1979 - - - -
1980 - - 35.8% 35.5%
1981 - - 33.7% 47.6%
1982 - - 29.7% 47.7%
1983 - - 27.5% 35.7%
1984 - - 23.7% 10%
1985 - - 21.6% 8.73%
1986 - - 19% 47.4%
1987 - - 18.6% 48.6%
1988 - - 23.6% 53.2%
1989 - - 20% 48.8%
1990 - - 20% 37%
1991 - - 17.1% 29.3%
1992 - - 17.6% 25.2%
1993 - - 33.2% 25.6%
1994 - - 28.1% 41.7%
1995 - - 25.6% 31.2%
1996 - - 21.1% 35.8%
1997 - - 21.2% 37.7%
1998 - - 20.6% 36.2%
1999 - - 19.2% 27.1%
2000 - - 16.3% 22.2%
2001 42.4% - 16.6% 25.6%
2002 43.8% - 19.1% 28.5%
2003 43.5% - 19.1% 26.8%
2004 44% 9.22% 18.4% 25.7%
2005 45% 8.12% 21.7% 22.2%
2006 47.2% 12.3% 22.4% 18.2%
2007 49.2% 15.8% 17% 16.1%
2008 60% 20.3% 19.7% 12.4%
2009 51.7% 32.5% 18.1% 13.3%
2010 44.3% 36.8% 16.3% 14.8%
2011 40.3% 58.2% 16.9% 12.3%
2012 38.9% 36.9% 13.2% 13.6%
2013 40.8% 36.9% 13.3% 11.8%
2014 38.8% 38.8% 14.2% 12.6%
2015 41.8% 53% 16.3% 37%
2016 40.7% 53.5% 17% 47.9%
2017 39% 53.2% 17.1% 45%
2018 37.8% 47.5% 15.3% 42.9%
2019 37.4% 41% 14.1% 46.6%
2020 38% 47.5% 13% 48.3%
2021 36.7% 41.2% 14.2% 42.4%
2022 38% 40.8% 13.8% 36.9%
2023 40.3% 40.7% 14.8% 33.5%
2024 41% 44.4% 14.8% 36.8%
2025 41.3% 42.9% 15% 39.9%

Government deficit by year

In 2024, Belarus' government surplus, the difference between spending and revenue, was $567M, equivalent to 0.75% of GDP. This compares to Iran's deficit of -$18B, or -4.11% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while Iran ran a deficit in 23 years. On average, Belarus posted an annual deficit equal to -3.34% of GDP, compared to deficit of -2.7% of GDP for Iran.

Deficit/surplus
Belarus

Iran
Year Deficit/surplus, % of GDP
Belarus Iran
1962 - -1.39%
1963 - 0.26%
1964 - -0.04%
1965 - -1.23%
1966 - -2.63%
1967 - -4%
1968 - -4.57%
1969 - -4.57%
1970 - -4.57%
1971 - -4.57%
1972 - -4.57%
1973 - -4.57%
1974 - -4.57%
1975 - -4.57%
1976 - -4.57%
1977 - -4.57%
1978 - -4.57%
1979 - -4.57%
1980 - -14.2%
1981 - -10.7%
1982 - -5.55%
1983 - -6.15%
1984 - -4.02%
1985 - -3.74%
1986 - -7.84%
1987 - -6.84%
1988 - -10.3%
1989 - -4.45%
1990 - -2.11%
1991 - -2.01%
1992 - -1.05%
1993 - -6.28%
1994 - -4.1%
1995 - -3.21%
1996 - -0.91%
1997 - -2.21%
1998 - -6.14%
1999 - -0.62%
2000 - 6.61%
2001 -4.74% 0.02%
2002 -7.81% -3.52%
2003 -6.74% -3.36%
2004 -7.06% -2.98%
2005 -6.71% -2.95%
2006 -7.71% -5.88%
2007 -7.82% -2.87%
2008 -10.9% -5.14%
2009 -7.23% -3.82%
2010 -4.19% -0.97%
2011 -2.81% -0.76%
2012 0.36% -0.58%
2013 -0.98% -0.83%
2014 0.09% -1.05%
2015 -2.96% -1.5%
2016 -1.66% -1.77%
2017 -0.34% -1.61%
2018 1.8% -1.64%
2019 0.91% -4.48%
2020 -2.87% -5.22%
2021 -0.22% -3.2%
2022 -2.04% -2.83%
2023 0.71% -3.82%
2024 0.75% -4.11%
2025 0.24% -5.47%

Inflation comparison by year

Over the past 29 years, Belarus has recorded an average annual inflation rate of 37.7%, compared with 21.8% in Iran. In 2024, inflation was 7% in Belarus and 32.5% in Iran.

Inflation
Belarus

Iran
Year Inflation
Belarus Iran Belarus Iran
1996 52.7% 28.9%
1997 63.8% 17.3%
1998 73% 17.9%
1999 293.7% 20.1%
2000 168.6% 14.5%
2001 61.1% 11.3%
2002 42.6% 14.3%
2003 28.4% 16.5%
2004 18.1% 14.8%
2005 10.3% 13.4%
2006 7% 10%
2007 8.4% 17.3%
2008 14.8% 25.4%
2009 13% 13.6%
2010 7.7% 10.1%
2011 53.2% 26.3%
2012 59.2% 27.3%
2013 18.3% 36.6%
2014 18.1% 16.6%
2015 13.5% 12.5%
2016 11.8% 7.25%
2017 6% 8.04%
2018 4.9% 18%
2019 5.6% 39.9%
2020 5.5% 30.6%
2021 9.5% 43.4%
2022 15.2% 43.5%
2023 5% 44.6%
2024 5.7% 32.5%
2025 7% -

Top exports between countries

Belarus
Export category Export value
Machinery & equipment $7.45M
Transport & tourism services $4.12M
Wood & paper products $3.1M
Processed food, beverages & tobacco $342K
Raw agricultural goods $232K
Business & finance services $196K
IT & IP services $127K
Manufacturing & construction services $115K
Government & miscellaneous services $114K
Metals $99K
Iran
Export category Export value
Chemicals & pharma $7.86M
Raw agricultural goods $5.45M
Textiles & consumer goods $2.52M
Animal & marine products $2.11M
Raw materials & minerals $1.94M
Machinery & equipment $839K
Processed food, beverages & tobacco $575K
Metals $175K
Miscellaneous $17K
Wood & paper products $1K

Balance of trade

Belarus Iran
Current account balance
-$1.94B
2024
$12.5B
2000
Current account balance ranking
141/189
2024
23/189
2000
Current account balance, % of GDP
-2.56%
2024
+11.4%
2000
Goods imports
$44.2B
2024
$15.2B
2000
Goods exports
$39.5B
2024
$28.3B
2000
Service imports
$6.82B
2024
$2.3B
2000
Service exports
$10.1B
2024
$1.38B
2000
Imports of goods and services, % of GDP
66.9%
2024
26.8%
2024
Exports of goods and services, % of GDP
65.1%
2024
22.9%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Belarus Iran
Economic freedom 48.9 42.5
Economic freedom ranking 168/197 185/197
Property rights 20.9 23.3
Government integrity 28.8 16.3
Judicial effectiveness 10.5 18.6
Tax burden 89.3 81.3
Government spending 55.6 94
Fiscal health 96.2 84.1
Business freedom 50.9 38.4
Labor freedom 48 43.6
Monetary freedom 67.2 39
Trade freedom 69.2 55.8
Investment freedom 30 5
Financial freedom 20 10

Economic freedom by year comparison

The Economic Freedom Index for Belarus is 48.9, ranking 168/197, compared to 42.5 for Iran, ranking 185/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Belarus
Iran
Year Economic freedom index
Belarus Iran
1995 40.4 -
1996 38.7 36.1
1997 39.8 34.5
1998 38 36
1999 35.4 36.8
2000 41.3 36.1
2001 38 35.9
2002 39 36.4
2003 39.7 43.2
2004 43.1 42.8
2005 46.7 50.5
2006 47.5 45
2007 47 45
2008 45.3 45
2009 45 44.6
2010 48.7 43.4
2011 47.9 42.1
2012 49 42.3
2013 48 43.2
2014 50.1 40.3
2015 49.8 41.8
2016 48.8 43.5
2017 58.6 50.5
2018 58.1 50.9
2019 57.9 51.1
2020 61.7 49.2
2021 61 47.2
2022 53 42.4
2023 51 42.2
2024 48.4 41.2
2025 48.9 42.5

More economic indicators

Belarus Iran
Services, % of GDP
49.7%
2024
47.9%
2024
Industry, % of GDP
30.7%
2024
36.4%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
13%
2024
GNI, Atlas method
$75.2B
2024
$426B
2024
GNI per capita, PPP
$32,220
2024
$18,420
2024
Total reserves including gold
$8.91B
2024
$7.69B
1982
Total reserves ranking
82/177
2024
85/177
1982
Net foreign direct investment
-$1.57B
2024
-$39M
2000
Net inflows of foreign direct investment
$1.74B
2024
$1.45B
2024
Net outflows of foreign direct investment
$170M
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI
11.3%
2023
0.09%
2023
Poverty at national poverty lines
3.9%
2022
18.7%
2020
Gross capital formation, % of GDP
25.8%
2024
40%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.