OREANDA-NEWS  In 2024, production in the manufacturing industry, which is one of the key sectors of the Russian economy, grew at a record pace. This was stated by Anton Alikhanov, head of the Ministry of Industry and Trade of the Russian Federation, as quoted by TASS.

He clarified that we are talking about growth rates in both the first and second quarters. According to the results of the first ten months of 2024, the positive dynamics remained. "The manufacturing industry continues to show an increase in production volumes to the level of 2023," Alikhanov summed up.

According to him, the highest production growth rates in the year ending were recorded in the segments of production of computers, electronic, optical and metal products, as well as automotive equipment. The prospects of the industry for the next year will largely depend on the monetary policy pursued by the leadership of the Central Bank (CB). If it is tightened, the agency will adjust the forecast for the growth of manufacturing industries in 2025, the minister concluded.

The manufacturing sector of the economy includes a diverse range of industries. It includes, in particular, metallurgy, mechanical engineering, light and food industries. According to the Federal State Statistics Service (Rosstat), in January-October, the growth rate in the manufacturing industry was 9.6 percent. At the same time, according to the Central Bank, this industry continues to experience an acute shortage of personnel, which may negatively affect output volumes.