Economy of Russia

Russia EconomyThe service sector contributes a lot to
Russia has been developing continuously in the lastRussia’s gross domestic product,
decade. Now it is world’s seventhsaccounting for sixty percent of the total GDP. As
economy, having a PPP at $2,076 trillion.far as industries are concerned, the most
Russia’s Prime Minister, Igor Shuvalov, hasimportant ones are: textile, agriculture,
high hopes, saying that Russia will become theconstruction, food and mining. 95 per cent of
sixth largest economy on the globe by the end ofRussia’s grain output is provided by four of
2008. Russia’s goal since the fall of thethe 7 federal districts: Volga, Siberian, Southern
Soviet Union in 1991 was to constantly growand Central.
economically. In order to stabilize, an ambitiousWinter wheat is grown mostly in the Southern
program of radical economic reforms was initiatedand Central districts, which provide a very fertile
by Yeltsin and the economist Yegor Gaidar, hisblack soil called chernozem. Rye is cultivated in the
adviser.north, where soils are not as fertile and winters
are quite severe. Every year, winter causes
If we were to consider Russian developmentdamages to more than 10 per cent of the crops
strategy to 2020, as presented by Mendvedevplanted in autumn. Plants suffer from soaking, ice
and Putin, we would notice that it is not an actualcrust, and overexposure to snow, frost damage
strategy, but an imprecise layout of the future.or heaving.
Russia is foreseen as the fifth largest worldRussia exports oil, manufacturing products and
leading economy, as far as GDP is concerned.natural gas to the Netherlands, Italy, China and
With the middle class population as the majorityGermany. Its partners of import are Germany,
and with a ruling party and well-built set of StateJapan and Ukraine, from which it imports fuel,
institutions, Russia vaunts itself as sociallycapital goods and food.
sustainable and politically stable.