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1 Jun, 2023 15:24

Russian industrial production increases

Output bounced back in April from the impact of Western sanctions, statistics show
Russian industrial production increases

Russia's industrial output in April 2023 was 5.2% up on the same period a year ago, the country’s statistics service Rosstat reported on Wednesday.

Production also grew by 0.6% from January to April as the country bounced back from a period during which industry was left reeling from the initial impact of Western sanctions, data shows.

Output was down 5% in month-on-month terms but, taking into account seasonal factors, it rose 1.7% compared to March, according to Rosstat.

The industrial production index had been declining for almost a year since the imposition of international restrictions before the trend reversed in March, when the indicator rose 1.2% year-on-year.

The uptick, largely driven by dynamics in the manufacturing industry, continued at a higher pace in April. Manufacturing surged 8% in annual terms, while mineral production rose 3.1%, the latest figures show.

Coal production surged 8.4% on an annual basis, and metal ore mining grew 0.5%. However, the extraction of other minerals decreased by 12.4%.

Ready-made metal products, excluding machinery and equipment, saw the largest increase, having jumped by 30%. The computer, electronics and optical products industry soared by 23.8%, electrical equipment was up by 29.3%, while other vehicles and equipment rose by 11.7%, and furniture production grew by 14.4%, according to Rosstat.

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