OREANDA-NEWS. April 29, 2011. It is read in the Ministry of Economy’s report on the situation in industry. The document reads that this indicator as a whole in industry in 2010 grew from 104.9 percent to 107%, according to the Ministry of Economy’s press service.

This dynamics characterizes the beginning of the gradual recovery after the economic crisis in industry in 2010 after the 21.2% slump of the production volume in 2009 in comparison with 2008. In 2010, the total industrial production volume was 27,056.5 million leis. The industrial output volume growth rates (in comparable prices) in comparison with 2009 were 107%. At the same time, industry didn’t reach the level of 2008, when the highest volume of industrial production in 2006-2010 was achieved – 29,988.4 million leis.

At the same time, the GDP volume in 2010 exceeded the level of 2008 by 0.5 percentage points (in comparable prices), totaling 71.8 billion leis (in current prices). The share of industry in the GDP structure in 2001-2010 reduced by 5.5 percentage points and constituted 13.2% in the reporting year. Reduction in the share of industry in the GDP in the reporting period was particularly determined by the situation in the processing industry, the share of which decreased from 15.8% to 10.6% (by 5.2 p.p.).

At the same time, according to the Ministry of Economy, significant growth of industrial production in the next years may be achieved only provided that industry re-orients onto export, production’s quality and labor efficiency are enhanced.