Industrial Production in January – September 2012

According to the latest data published by Rosstat, the Industrial Production Index in January-September 2012 amounted to 102.9% against the corresponding period of last year, and in September 2012 it was 102.0% against September 2011.


The inertia-dominated development in July-August 2012 resulted in a further slowdown of economic indices by type of economic activity in industry. The situation was further complicated by the fact that, over the past two months, the output of the processing industries has been demonstrating a decline on each previous month, which determined the negative monthly dynamics of industrial production as a whole. The per annum growth rate displayed by of the processing industries in September 2012 was 103.3%, that of mineral resources extraction – 101.8%.

In September 2012, the producer price index for industrial commodities, according to preliminary data, amounted to 104.8% (over the period since the year’s beginning – 109.4%), including mineral resources extraction – 115.9% (131.7%), the processing industries – 101.3% (104.2%), the production and distribution of electric energy, gas and water – 101.6% (107.2%). The overall growth of prices over September 2012 in the  fuel and energy mineral resources sector  was caused in the main by the rising price of crude oil (by 25.7%), and that in the processing industries – by the rising price of coke and  petroleum products (by 5.5%). In spite of the increased cost of fuel and electric energy, the processing industries have so far been maintaining their policy of moderating the growth of prices. One exception has been the production of foodstuffs, the movement of their prices being influenced by the changes in the domestic and foreign prices of foodstuffs and raw materials in response to declining agricultural production.

In view of the existing trends, growth in industry over the 2nd half-year of 2012 is estimated to be at the level of 104.1% on the corresponding period of last year, and the 2012 full-year results against 2011 will amount to 103.6%.

O. I. Izryadnova – Head of the Structural Policy Department