Construction in belarus: Down by 25% in Four Months

In the first four months of 2026, the volume of housing completed in belarus fell by 26.6% compared to the same period last year. In rural areas and small towns, the decline was even steeper – 30%.

The worst figures were recorded in the public housing construction segment – a 42% decline. In other words, over the course of a year, state-funded programs have effectively lost nearly half of their volume.

The sector is dragging down GDP. Gross value added in construction for January–April fell by 5.6% year-on-year. By this measure, construction ranked second among the sectors dragging down belarusian GDP – after the manufacturing industry. The country’s economy as a whole grew by only 0.2% over the four-month period.

Construction companies earned 200 million rubles in net profit during this period – by 31% less than in the same quarter of 2025. The share of loss-making companies rose from 18% to 26%.

Total investment in fixed assets over the four-month period decreased by 0.6%. The construction sector, meanwhile, fell by 4.8% – and it was precisely this sector that drove the overall decline.

By comparison: the first three quarters of last year were a period of investment growth – monthly growth reached 10–20%. By the fourth quarter, it had fallen to 3%.

Economists attribute the slump to systemic problems: an opaque business environment, a shortage of skilled workers, and strict price controls. Preferential investment lending failed to rescue the situation.