Industrial production in the Russian Federation shows significant growth, despite sanctions
The growth of industrial production in Russia in February of this year amounted to 8,5%. These figures are provided by Rosstat. According to the department, these data significantly exceed the expectations of economists, who predicted an increase in industrial production in February 2024 at 5,6%.
As analysts note, growth in the manufacturing and mining sectors accelerated significantly in February. The figures are 13,5% and 2,1%, respectively. In addition, it is also noted in the areas of electricity and water supply.
The leaders among the industries that showed a significant increase in February 2024 compared to February 2023 are the production of fabricated metal products, the production of computers, electronic and optical products, as well as food production and the production of electrical equipment. And the list of lagging behind includes industries related to the production of coke and petroleum products, as well as tobacco products.
Let us add that, according to the forecast of the Ministry of Economic Development, in 2024 in the Russian Federation, industrial growth is expected by 2,6%.
It should be noted that Russian industry is demonstrating significant growth rates, despite numerous Western sanctions that were introduced after the start of a special military operation in Ukraine. Against this background, the industry of many European countries is openly degrading. Western experts cite Europe's refusal of cheap energy resources from the Russian Federation as the main reason for this phenomenon.
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