Экономика России

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy to a more market-based and globally integrated economy. The economy of Russia is the eighth largest economy in the world by nominal value and the sixth largest by purchasing power parity (PPP). Russian government predicts stable growth rates for future years of around 3.5% of GDP.

Government policies include the encouragement of domination of private businesses and private investors and the protection of the choice and property of those who willingly risk their money and reputation. Also, one of the main objectives is to prevent and reduce the rates of unemployment, corruption, hostility to investment, excessive government role in the economy and the excessive centralization of power.

Russia comprises roughly three-quarters of the territory of the former Soviet Union. Following the breakup of the Soviet Union in 1991 and after nearly 10 years of decline, Russian agriculture began to show signs of improvement due to organizational and technological modernization. Northern areas concentrate mainly on livestock, and the southern parts and western Siberia produce grain. Another chief crops are: sunflower seeds, barley and wheat.

Major manufactures include complete range of mining and extractive industries producing coal, oil, gas, chemicals, and metals; all forms of machine building from rolling mills to high-performance aircraft and space vehicles; defense industries including radar, missile production, and advanced electronic components, shipbuilding; road and rail transportation equipment; communications equipment; agricultural machinery, tractors, and construction equipment; electric power generating and transmitting equipment; medical and scientific instruments; consumer durables, textiles, foodstuffs, handicrafts.

Russian economy is considered as a developing one, because expenditures ($414 billion) fall short of revenues ($469 billion). Public debt accounts for 11% of GDP, but it is compensated by taxes, which are rather high.

Chief imports of Russia are machinery, vehicles, plastic, semi-finished metal products, meat, fruits, nuts, optical and medical instruments, iron and steel. Chief exports are petroleum and petroleum products, natural gas, metals, wood and wood products, chemicals, and a wide variety of civilian and military manufactures. In value terms exports ($542.5 billion) are higher than imports ($358.1 billion) and it has a positive effect on the economy.

Russia recorded a trade surplus of about $17000 Million in January of 2013. Balance of trade is reported by the Central Bank of Russia. Main trading partners are: China, Germany, Italy, France, Japan and the USA.

In late 2008 and early 2009, Russia experienced the first recession after 10 years of experiencing a rising economy, until the stable growth resumed in late 2009 and 2010. Despite the deep but brief recession, the economy has not been as seriously affected by the global financial crisis, largely because of the integration of short-term macroeconomic policies that helped the economy survive, as well as low sovereign debt levels which made austerity unnecessary.