The industrial sector of Kyrgyzstan has demonstrated 7.8% growth in the first two months of 2024, the latest report from the National Statistics Committee reveals.
Production Surpasses Previous Year's Figures
Figures released by the agency reveal that industrial goods worth KGS 74.4bn ($910mn) were produced between January and February of this year. This marks a notable increase of 7.8% compared to the same period last year.
The growth observed in the industrial sector can be attributed to an uptick in output across several vital segments of the economy. Notably, there has been a substantial increase in the production volumes of various goods:
- Wood and Paper Products: Showing significant growth.
- Printing Activities: A notable surge of one and a half times.
- Rubber and Plastic Products: Witnessing increased output.
- Building Materials: Production up by 30.3%.
- Chemical Products: Demonstrating growth of 27.7%.
- Pharmaceutical Products: An increase of 16.8%.
- Food Products, Including Drinks and Tobacco: Showing a rise of 16.3%.
- Basic Metals: Witnessing a notable increase of 11.1%.
Implications for the Economy
The positive trajectory observed in Kyrgyzstan's industrial sector is indicative of a strengthening economy. Increased production across various segments not only boosts economic growth but also contributes to employment opportunities and overall economic stability.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)