19/1/11 – Ukraine Industrial Production Increased 11% in 2010
19 January 2011
Ukraine hopes that it is coming out of the global recession as its records an increase in the volume of industrial production in 2010. Year end figures show production grew by 11% compared to that in 2009, having experience a of 21.9% fall in that year – the record low for the last 15 years.
In December 2010 Industrial production index in Ukraine grew 12.5% compared to the same month in 2009. The Ukrainian machine building industry in 2010 has been recovering faster than other sectors according to the State Statistics Committee of Ukraine. It grew 38.9% compared to 2009 and had almost regained its previous volumes after a sufficient decline in 2009.
The most important export industry of the country – metallurgy – was able to reach a 12% production increase in 2010 according to the State Statistics Committee of Ukraine. The worst decline of industrial production in almost twenty
years of Ukrainian independence happened in 1994, while a record growth was recorded in 2003.Earlier, Prime Minister Mykola Azarov has assured that Ukraine will overcome the crisis by August 2011.