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The industrial production dynamic in 2020

Andrey Kaukin, Evgenia Miller and Marina Turuntseva
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Evgenia Miller: RANEPA

Published Papers from Gaidar Institute for Economic Policy

Abstract: The imposition of the restrictive measures to contain the spread of the coronavirus infection (self-isolation regime, shutdown of public facilities, etc.) adversely affected the dynamic of Russian industrial sectors in H1 2020. The manufacturing industries that produce consumer durable goods, which sales most strongly depend on changes in the income of the population, suffered the most. The collapse of the OPEC+ deal and its subsequent renewal on tougher conditions for daily oil production adversely affected the extracting sector dynamic. The decomposition analysis has demonstrated that the Russian economic recession was relatively small, the ownership structure of major industrial enterprises, the weak integration of Russian industrial sectors into global value added chains and a significant share of industrial production in the economy played a positive role.

Keywords: Russian economy; production; external and internal demand; GDP structure (search for similar items in EconPapers)
JEL-codes: G28 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-cis and nep-isf
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Handle: RePEc:gai:ppaper:ppaper-2021-1127