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Industrial output in the Eurasian Economic Union (EAEU) countries rose 4.7% year-on-year in January, with all EAEU countries demonstrating growth, the EAEU press service has said, stating “The EAEU had an industrial production volume of 104.7% in January 2024, on par with January 2023.”
Armenia had industrial output growth of 21%, Belarus of 5.4%, Kazakhstan of 3.4%, Kyrgyzstan of 16.5%, and Russia of 4.6%, the Eurasian Economic Commission (EEC) the governing body of the EAEU said.
The EEC advised that the volume of output increased by 0.7% in mining and quarrying; by 7.5% in manufacturing; by 4.9% in electricity, gas, steam, and air conditioning; and by 3.3% in water, sewerage, and waste collection and distribution. The energy figures are related to seasonal winter cold, while consumer and export positives are the manufacturing sector results.
These figures indicate that the EAEU has also absorbed the impact of secondary sanctions and is to some extent being carried along both by Russia and China trade. China’s manufacturing PMI was also slightly up (0.2%) in January this year over the previous month.
