Key Market Indicators
Belarus is on track to see a significant rise in vehicle registrations, with projections indicating an increase to approximately 89,000 units by 2028, up from around 72,500 units in 2023. This represents an average annual growth rate of 3.4%. Since 2010, the Belarusian vehicle market has experienced an average yearly growth of 6.7%. In 2023, Belarus ranked 61st globally in vehicle registrations, with Puerto Rico surpassing it with the same number of units. Leading the global rankings are Canada, China, and Austria, securing the 2nd, 3rd, and 4th positions respectively. In terms of vehicle production, Belarus is projected to see a modest increase to about 21,000 units by 2028, up from nearly 21,000 units in 2023, marking an annual growth rate of 0.3%. However, since 2004, the country's vehicle production supply has seen an average annual decline of 2.2%. In the global rankings for 2023, Belarus stood at 41st place, with Serbia slightly ahead with the same production number. Topping this list are the United States, Japan, and Germany, holding the 2nd, 3rd, and 4th spots respectively.
