Industrial Production Dynamics in Q3 2021

In Q3 2021, industrial output growth was mainly driven by extractive industries owing to a pickup in demand for power-generating coal and natural gas and ebbing restrictions related to the OPEC+ agreement. The following factors kept affecting dynamics of different sectors of the Russian industry: further anti-COVID restrictive measures introduced both in Russia and its main trade partner countries (particularly, China); soaring prices for primary commodities (for the chemical industry and metallurgy) on the world’s commodity exchanges; termination of government support programs and consumer demand stimulating measures (for the light industry and the engineering industry)