The manufacturing sector (+5.9%) and the energy sector (+14.1%) once again drove production growth. At the same time, the extractive industry recorded a decline (-8.7%). Industrial production, adjusted for the number of working days and seasonality, increased by 9.1% over the five-month period, according to official statistics.
Overall industrial indicators smooth out the volatility of month-to-month trends: in January, growth slowed to 8.6%; in March, there was a sharp jump to 12.3%; and in April, growth slowed again (+10% from April to May). According to experts, these fluctuations depend primarily on external demand conditions. The domestic market remains limited, and growth is largely driven by exports, primarily through the processing and export of agricultural products and the supply of energy resources.
