24 June 2011

After a bleak 2009, gross domestic product (GDP) grew throughout Eastern Europe, the Caucasus and Central Asia (EECCA) in 2010.

Kyrgyzstan was the only country with shrinking GDP, where coal production (-9 per cent) and agriculture (-3 per cent) led the decrease. GDP still grew in Kyrgyzstan in 2009 like it did in all Central Asia. At the same time, the global economic crisis was more prominent in other EECCA countries.

In 2009, the economic downturn hit hardest in Armenia, Russia and Ukraine. Based on 2010 figures, these countries have pulled through the worst for now. Industrial output grew about 10 per cent in both Armenia and Ukraine, while Moldova and Russia reached growth rates of 7 and per cent, respectively. Agricultural output still diminished in Armenia and Russia with a pace of more than 10 per cent compared to 2009.

Source: UNECE Statistical Database, Eurostat and national statistics, CISSTAT and national statistics