Economic downturn in Primorye leads to a slump in the auto sector, furniture manufacturing, and electronics industry.
Revised Article:
Boom in some sectors, notably minerals and machinery, contrasts with slumps in others like automotive, electronics, and furniture.
It appears the industrial landscape in Primorye is a mixed bag these days. According to IA PrimaMedia, the region's industrial production rose by 0.9% from January, but a closer look reveals some sectors are faring better than others.
For instance, the extraction of minerals has experienced a substantial leap, increasing by 33.5% from January to April 2025 compared to the same period the previous year. Key contributors to this growth were a whopping 2.3 times increase in the extraction of other minerals and a modest 5% hike in coal extraction.
However, the story changes when we delve into the processing industries. Over the same period, they have slashed production by 2.8%. A significant fall was noticed in the production of:
- Autos, trailers, and semi-trailers, plummeting by an unbelievable 93%;
- Other finished products, tumbling by 65%;
- Computers, electronic, and optical equipment, shrinking by 42%;
- Furniture, dwindling by 36%.
Even the repair and installation of machinery and equipment succumbed to a 35% decrease.
On the bright side, the production of machinery and equipment, metal production, food production, beverage, clothing, rubber and plastic products, and other transport equipment recorded growth of 2.8 times, 49%, 11%, 10%, 5%, respectively.
If we focus on food products, the indicator surged by 11.3% compared to the same period last year. The largest volume of products released was for:
- Frozen fish meat, fruit and vegetable preserves, refined vegetable oil, frozen fish fillets, meat semi-finished products, fish preserves, cereals, milk, meat and poultry by-products, and dairy products.
It's also worth noting that organizations engaged in water supply, wastewater treatment, waste collection and disposal, and environmental cleanup experienced a decrease in production volumes by 17% compared to January-April 2024.
While specific data on the automotive, electronics, furniture, and processing industries is limited, broader trends suggest changes might be afoot. For instance, there's been an increase in the import of Belarusian machinery, with the region purchasing 85 units already and planning to acquire around 130 more.
The broader economic context reflects growth in military-related sectors but stagnancy in consumer goods production, leading to inflationary pressures. These trends may influence local industries, albeit not with the same intensity.
For a more in-depth comprehension of these sectors in Primorye, further regional economic reports or industry-specific analyses would prove helpful.
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- The automotive industry in Primorye has been struggling, with a drastic 93% decrease in the production of autos, trailers, and semi-trailers.
- On the other hand, the production of machinery and equipment, a key sector in the industrial landscape, has experienced significant growth, increasing by 2.8 times compared to the same period last year.
- Interestingly, there has been an increase in the import of Belarusian machinery into Primorye, indicating potential changes in the local manufacturing industry.
