GRODNO, 25 February (BelTA) – Industrial output of the companies residing in the free economic zone (FEZ) Grodnoinvest rose by 14% in 2020, the FEZ Grodnoinvest administration told BelTA.
At present FEZ Grodnoinvest accounts for 28% of Grodno Oblast's industrial output. In 2020 companies residing in the free economic zone turned out over Br3 billion worth of industrial goods, 14% up on 2019.
Industrial output rose by 2.4 times in the last five years. In 2020 sales profitability doubled to reach 20%. Shipments of innovative products rose rapidly. In 2020 labor productivity increased by 18%.
Woodworking and furniture production represent the top industry. In 2020 this industry's output exceeded Br1 billion. The output growth rate of food products totaled 139%, pharmaceutical products 138%, optics and electronic equipment 134%, goods made of wood and paper 125%, machines and equipment 115%. The volume of transportation services rose by 21%. This kind of business develops in new FEZ Grodnoinvest sections in Grodno District and Svisloch District at the Belarusian-Polish border.
In 2020 FEZ Grodnoinvest's industrial sites accounted for 48% of the zone's industrial output. The city of Grodno accounted for 29%, Lida District 8%. Smorgon District (136%), Grodno District (123%), and Svisloch District (123%) demonstrated the fastest growth rate in 2020.
As much as 68% of FEZ Grodnoinvest's output is exported to 65 countries across the globe.