Industrial Production Dynamics in March-April 2021

Andrey S. Kaukin – Head of Department for System Analysis of Sectoral Markets of the Russian Presidential Academy of National Economy and Public Administration; Acting Head of Center for Real Sector, Head of Department of Sectoral Markets and Infrastructure of the Gaidar Institute for Economic Policy, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Eugenia M. Miller – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In March-April 2021, the OPEC + agreement continued to restrain growth in the extractive sector. Nevertheless, the trend component in the production dynamic demonstrated a positive trend on the back of an increased demand for coal and gas in the European and Asian markets. The trend component of production in the manufacturing sector also grew mainly owing to the increase in world prices for products from industries that take a significant share in the production structure (woodworking, metallurgy, chemistry). The current trends raise concerns about the potential acceleration of inflation.

Key words: industrial sector, sectors of economy, mining industry, manufacturing, Rosstat, OPEC+ deal.

JEL-codes: L16, L6, L7, L8, L9.