In Russia, a decline in industrial production volumes was recorded in January. The reasons include the Kremlin's tight monetary policy and the intensification of Western sanctions.
The industrial production growth rate in Russia in January 2025 was 2.2%, compared to 8.2% in December 2024 and 3.5% in November 2024. It is noted that the Russian industry has entered a phase of stagnation, and a significant slowdown in industrial production growth is expected in 2025—down to 1%. In some months and quarters, even more negative dynamics may be expected.
In January, the extraction of minerals, including gas, continued to decrease, car production fell (by an average of 1.8% per month), and the production of heat and electricity also declined.
The decline in industrial production in January indicates a deepening of the crisis in the Russian economy. In 2025, this process will be exacerbated by a shortage of personnel, problems with the supply of imported components, reduced domestic demand, and difficulties with logistics.
