Manufacture of machinery and equipment in the 1st half of 2012 increased by 4.5 percent

Manufacture of machinery and equipment in Russia in the first half of 2012 increased by 4.5 percent compared to the same period last year. This was reported in the monitoring of the RF Ministry of Economic Development of socio-economic development of the Russian Federation in January-June 2012.

This trend is due to the increased production of machinery and equipment for agriculture and forestry, as well as other general purpose machinery.
The increase in production of machinery and equipment for agriculture and forestry in the period amounted to 20 per cent, due mainly to an increase of 20.7 percent in production of tractors for agriculture and forestry harvesters linked to, including those with increasing acreage of grain and leguminous crops, stable financial and economic situation of agricultural producers, as well as a sufficient level of competitiveness of the equipment produced at assembly plants in the Russian Federation.
In the first half of 2012 there was a decrease in production of mechanical equipment by 10.3 percent. This evolution was due to significant fluctuations in the rate of production of certain types of products to which are connected with the specifics of their production cycle. In this regard, the production of steam turbines and other vapor turbines decreased by 48.4 percent, gas turbines, other than turbo-jets and turbo-prop engines — at 18.6 percent.
In addition, in connection with a reduction in the growth rate of investment in the construction market in January-June 2012, Ministry of Economic Development said the decline in the production of machinery and equipment used in construction. This situation has contributed to the decline in production of machinery and equipment for special purposes by 10.9 percent.

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