Domestic production under foreign influence
January 17 2025, 19:00
The results of the economic year 2024 reflect the growth of industry. Cumulative growth for January-November was 7.6%, which remains high but is rather low compared to 11.7% in January-October.
At the same time, mining, one of the important industries, continues to fall (8%), while the cumulative growth of the manufacturing industry amounted to 10.8%. Note that the re-export factor continues to have the greatest impact on manufacturing growth, although there is a slowdown.
It is encouraging that the food industry grew by 4.2%, especially considering that we have had problems in this area for a long time. But it is worth noting that the biggest contributor was the 84.7% increase in the production of base metals, the very re-export effect without which manufacturing industry growth could have been very low.
Obviously, the food industry is in first place, and base metals are in second place with a share of 22.3%. As a result, domestic production today continues to be under foreign influence, albeit diminishing.
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