The Gross Domestic Product (GDP) of the Commonwealth of Independent States (CIS) increased by 4% in 2002, according to figures released recently by the Interstate Statistical Committee.

As in 2000 and 2001, the highest growth was recorded in Azerbaijan, Armenia, Kazakhstan and Tajikistan, where GDP went up by between 9% and 13%.

Moldova also made progress, with its GDP rising 7% in 2002, compared with 7% in 2001 and 2% in 2000. In Belarus, Georgia, Russia, Uzbekistan and Ukraine growth was up by between 3% and 5%, a trend which has been sustained for four years in Belarus and six years in Uzbekistan.

In Russia and the Ukraine, growth slowed slightly and only Kyrgyzstan’s GDP declined significantly, by a total of 0.5%.

On a financial basis, the CIS member states were relatively stable and sustained moderate rates of inflation, comparatively steady exchange rates against the US dollar, growth in gold, foreign exchange reserves and budget surpluses and, in some cases, only small deficits, the committee said.

Overall, CIS industrial output grew by 4%, farm output by 2%, capital investments by 6%, retail trade by 10%, foreign trade (in the first 11 months) by 5% and freight by 4%.

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