Varied growth of industrial production in Eastern Europe, the Caucasus and Central Asia
After negative growth rates in 2009 following the economic crisis, industrial production in Eastern Europe, the Caucasus and Central Asia experienced relative high growth rates in 2010 and 2011, but lost some momentum in 2012, when it returned to more modest growth rates.
Industrial production in the Russian Federation grew by 8.2% in 2010 and 4.8% in 2011 but fell to 2.6% in 2012. Ukraine saw large variations in its industrial growth, from a fall of 22% in 2009 to growth rates of 11% in 2010 and 7.6% in 2011; and in 2012 production fell by 1.8%.
Another large economy of the region, Kazakhstan, saw similar declines, from growth rates of 10% in both 2010 and 2011, to 0.4% in 2012.
Armenia showed a different pattern, however. After a record high of 14.2% growth in 2011, industrial growth was back at 8.8% in 2012, the same level of growth as in 2010.
Azerbaijan experienced a different development: After a fall of 4.9% in industrial production in 2011, the country experienced positive growth of 1.1% in 2012.
Source: UNECE Statistical Database