Page 72 - RusRPTMar23

In December 2022, industrial production in the Russian Federation decreased by 4.3% compared to December 2021, the Federal State Statistics Service (Rosstat) said in a statement. In November 2022, the decrease in the indicator was 1.8%, in October - 2.6%, in September - 3.1%, in August - the indicator did not change, in July - a decrease of 0.5%, in June and May - by 2.4%.
Compared to November of the current year, industrial production in December increased by 10.9%.
In 2022, industrial production decreased by 0.6% after growing by 6.3% in 2021.
Excluding seasonal and calendar factors, in December 2022, according to Rosstat, the industry grew by 0.1% compared to November after growing by 0.8% a month earlier.
Industry data in December 2022 turned out to be slightly weaker than forecasts. The consensus forecast of analysts polled by Interfax at the end of December provided for a decline in industrial production by 4.1% in annual terms.
At the end of 2022, analysts predicted a decline in industry by 0.5%. In 2023, experts expect a continued decline of 1.8%. The Ministry of Economic Development of the Russian Federation in the baseline scenario (from September 2022) predicts a decline in the country's industry in 2023 by 1.3%.
The growth of industrial production in the Russian Federation is projected starting from 2024 - by 2.2%, in 2025 - by 2.3%.
Rosstat clarified data on industrial production for 2021. The estimate of industrial production growth in general for 2021 was reduced by 0.1 p.p. - up to 6.3%.
Compared to December 2021, mining decreased by 2.6%, manufacturing industries reduced output by 5.7%, industries related to water supply and sanitation, waste management and pollution elimination - by 8.2%. The energy sector showed zero growth, Rosstat notes.
In the raw materials sector, oil and gas production decreased by 2.1% compared to December 2021, metal ore production - by 8.6%.
At the same time, coal production increased by 5.8%, as well as other minerals, including stone, crushed stone and sand, by 11.2%.
Among the manufacturing industries, the production of vehicles, trailers and semi-trailers decreased the most - by 47.4% by December 2021, as well as
72 RUSSIA Country Report March 2023 www.intellinews.com