Thursday, October 18 2018 10:06

ArmInfo.In 2017, in the Eurasian Economic Union, industrial production increased by 2.6%. At the same time, in most countries of the Union, growth was much more  significant: in Armenia - by 12.6%, Belarus - by 6.1%, Kazakhstan -  by 7.1%, Kyrgyzstan - by 11.5%.

In Russia, the growth of industrial production is fixed at 2.1%. Such data is contained in the report "On the results of the annual monitoring and analysis of the  implementation of the main areas of industrial cooperation within the  Eurasian Economic Union", approved at the meeting of the EEC Board.

According to the document, the outcome of the implementation of key  areas last year was the achievement of positive rates of increasing  industrial production, labor productivity, volumes of cooperative  supplies and mutual trade, as well as the share of Eurasian products  in the Union market. Positive growth rates in industry were ensured  not only in all EEU states, but also practically in all industries.

Pharmaceuticals (by 13.3%), production of vehicles and equipment (by  10.7%), production of non-metallic mineral products (by 10.7%),  furniture industry (by 9.9%), machinery production and equipment (by  9.4%), woodworking (by 5.7%), textile and clothing production (by  5.6%), chemical industry (by 5.5%).  show the highest growth rates.

Integration processes within the Union have a positive impact on the  development of industrial cooperation between member states, with the  result that in 2017 the growth of cooperative supplies to the EAEU  outpaced not only the pace of industrial production, but also the  increase in the volume of such supplies of member states in foreign  trade with third countries. Thus, cooperative supplies between member  states in the manufacturing industry increased by 30%, while  industrial production grew only by 2.9%, and imports of components  from third countries increased by 21.6%.

The greatest growth rates of cooperative supplies were shown mainly  by industries that were identified by member states as priority and  for which practical integration work was already started with the  participation of the Commission: transport engineering (by 98%),  metallurgy (by 45%), automotive industry (by 44.8%).  %), clothing  production (by 38.2%), production of metal products (by 36.7%),  furniture industry (by 36.5%), manufacture of machinery and equipment  (by 27%). The growth in industrial production and the development of  cooperation allowed for substantial growth in exports of industrial  products outside the EEU, as well as a transition to positive growth  rates in the volume of mutual trade in industrial products within the  Union.