Output grew in industry,
construction and transport branches in January-February
2004. There was a significant expansion in retail and
wholesale trade turnovers, while agricultural production
Industrial output grew 8.1% in
January-February 2004 compared to the same period last
year. Excluding seasonal and random factors, output in
February rose 0.6% month on month.
According to estimates, output in
export-oriented industries increased 0.7% in February
month on month, in industries manufacturing goods for
export and for the domestic market 1.3% and in
industries oriented to the domestic market 0.4%.
Estimates show that the biggest contribution to
industrial production growth in January-February 2004
was made by machine-building and metalworking industry,
the fuel sector and food industry (in January-February
2003, it was the non-ferrous metallurgy sector, fuel
sector and ferrous metallurgy sector).
Output expanded 0.2% in the
electric-power industry in January-February 2004
compared to the same period last year, 9.3% in the fuel
sector, 8.8% in the ferrous metallurgy sector, 1.7% in
the non-ferrous metallurgy sector, 11.9% in the building
materials industry and 8.7% in the wood and paper
industry. A high level of investment activity stimulated
production in the engineering industry, which registered
a 19.8% rise in output in January-February 2004. The
most significant growth was registered in the investment
sub-sectors of the engineering industry (the production
of hoisting and transport equipment and railway
engineering) and car-making.
Production growth in food
industry (valued at 6.9%) in January-February 2004 was
stimulated by high consumer demand, but production
activity in the light industry declined 2.7% due to low
As of the beginning of March
2004, industrial companies had a backlog of orders
which, at the current utilisation ratio, allowed them to
continue production for 3.7 months, or a little longer
than a year earlier (3.6 months).
According to the Russian
Government’s Centre for Economic Studies, production at
key industrial enterprises in February was stimulated by
high demand. Most enterprises described their backlog of
orders as "adequate" or "normal" at 62% against 58% in
2003. Production growth in recent years ensured a fairly
high utilisation ratio (57%).
The freight turnover of transport
companies rose 7.7% in January-February 2004 compared to
the same period last year. Rail transport expanded
freight turnover by 8.2%, automobile transport 5.4%,
inland water transport 42% and pipeline transport 8.4%.
Agricultural output declined 1.3%
in January-February 2004 compared to the same period
last year. The production of milk fell 1.7% and eggs
1.3%, while meat production increased 2.2%. Grain sales
by agricultural enterprises in January-February 2004
contracted 39.3% compared to the same period last year,
to 1 million tonnes.
The output index for the key
branches of the economy (industry, agriculture,
construction, transport and retail trade) gained 8.3% in
January-February 2004 year on year.