In Belarus, the highest GDP growth in the last 10 years was achieved in January-April - 112.3%

May 23, Minsk /BELTA/. Belarus achieved the highest gross domestic product growth in the last 10 years in January-April 2011 - 112.3%. This was reported to BELTA correspondent by the press service of the Ministry of Economy. Economic growth is supported by the dynamics of industrial production (112.9%), an increase in investment in fixed assets (123.4%), and the maintenance of active demand in the country's consumer market (120.6%). The economic growth in the first quarter was ensured by an increase in labor productivity by 10.6%, a decrease in GDP energy intensity by 7.7%, and an increase in exports of goods and services by 41.9%. The main contribution to the GDP growth rate was made by industry (4.1%), trade; repair of motor vehicles, household goods and personal items (2.9%), and construction (1.6%). A significant contribution in January-April was obtained from net taxes on products (2.4%). The dynamics of industrial production (112.9%) were driven by manufacturing (growth rate of 114.9%). The high result of the four months was achieved due to oil refining (growth rate of 130.5%), which contributes more than a third to the growth of industrial production. The utilization of oil refining enterprises has been increased - 6245.2 thousand tons of oil were processed in 4 months of 2011, which is 28% more than in the same period of 2010. The significant growth in oil refining is due to the low "base" of oil processing volumes in the first quarter of 2010, however, starting from April 2010, oil processing volumes began to recover. Therefore, starting from May of the current year, the growth rate of production in the "manufacture of coke, refined petroleum products and nuclear material" sector is expected to slow down, according to the Ministry of Economy. In 9 out of 14 sub-sectors of manufacturing, there is a downward trend in growth rates compared to January 2011 (except for the manufacture of machinery and equipment, transport equipment, and wood processing and products of wood). The main factors for the growth of industrial production are favorable conditions in external markets, maintenance of domestic demand, and targeted support for leading enterprises. The qualitative parameters of the industrial complex development are also characterized by positive dynamics. One of the efficiency indicators is the leading growth of labor productivity relative to production growth rates. This situation, based on the results of January-March of the current year, is typical for 7 out of 14 sub-sectors of manufacturing. The factors for the growth of labor productivity include both the optimization of the number of working personnel (the average number of employees decreased by 0.9%, or by 7.9 thousand people) and an increase in the average monthly output per person to Br18 million (in 2010 - Br12.7 million). Sales profitability in the republic's industry in January-March reached 7.2%. The net profit received by organizations for three months of the current year is 61% higher than for January-March 2010. The share of unprofitable organizations has been reduced to 16.6% of the total number of industrial organizations. There is a trend of increasing the share of shipped innovative products in the total volume of shipped products: in January - 10%, in January-February - 11.3%, in January-March - 11.8%, in January-April - 12.3%. -0-