Industrial production in May 2021: growth continues

In May 2021, industrial production grew by 11.8% over the same period last year. In general, for 5 months of 2021, the growth was 3.2% compared to January - May 2020.

An increase in volumes compared to May 2020 was recorded in all four sectors of the economy taken into account when calculating the industrial production index. Extractive industry grew by 12.3%, manufacturing industry - by 11.4%, electricity, heat and gas supply - by 8.7%, as well as industries related to water supply and sewerage, waste disposal and pollution removal - by 23, eight%.

Analyzing the dynamics of industrial production in comparison with the period before the start of the COVID-19 pandemic, it can be noted that the growth by May 2019 was 2.9%. At the same time, the manufacturing industry increased production by 6.3%, the energy sector - by 4.2%, the sectors related to water supply and sewerage, waste disposal and pollution elimination - by 10.3%. The index of production in the primary sector decreased by 2.0% compared to May 2019, which is associated with a decrease in oil and gas production by 4.6% and coal production by 1.6%.

In May, the index of entrepreneurial confidence continued to grow in the manufacturing industries, moving into the zone of positive values (May 2021 (+) 0.3%, April 2021 zero level, March 2021 (-) 0.3%, February 2021 (-) 1.0%). The commodity sector saw a sharp rise in the index from (-) 1.3% in April to zero in May 2021.

In May, estimates of the current demand for the products of enterprises in the raw materials sector and manufacturing industries also improved. The number of optimists expecting an increase in production in the next 3 months still exceeds the number of those who expect a decline in production.

Industries that showed significant growth in May 2021 compared to the same period last year:

- mining of other minerals (including non-metallic materials, precious and semi-precious stones, etc.)
(+) 29.0%;
- provision of services in the mining sector (+) 21.0%;
- oil and gas production (+) 11.7%;
- coal mining (+) 11.3%;
- production of cars, trailers and semi-trailers (+) 71.4%;
- furniture production (+) 60.4%;
- production of finished metal products (except for machinery and equipment)
(+) 44.3%;
- production of textiles (+) 26.1%, leather and leather goods (+) 27.8%;
- production of rubber and plastic products (+) 26.8%;
- wood processing and production of wood products (+) 23.3%,
- production of paper and paper products (+) 19.5%;
- repair and installation of machinery and equipment (+) 18.4%;
- manufacture of machinery and equipment not included in other groups (+) 18.0%;
- production of electrical equipment (+) 14.9%;
- production of coke and petroleum products (+) 10.2%;
- chemical production (+) 8.9%.

Industries in which production volumes decreased compared to May 2020:
- mining of metal ores (-) 0.2%;
- production of tobacco products (-) 4.1%;
- production of clothing (-) 0.9%.