Sectoral dynamics of industrial production in 2021

Andrey Kaukin and Evgeniya Miller

Published Papers from Gaidar Institute for Economic Policy

Abstract: In 2021, output in the extractive sector of the Russian industry went up due to the influence of factors that appeared at the beginning of 2021: growth of demand for thermal coal and natural gas from European and Asian countries; weakening of the effect of restrictions related to the OPEC# -*- coding: cp1251 -*- agreement on the back of higher quotas for daily oil production by the member countries. The manufacturing sector also demonstrated growth in 2021, which was achieved owing to high prices and growing external demand for the products of industries that occupy a significant share in the structure of industrial production (metallurgy, chemical industry, oil refining industry).

Keywords: Russian economy; production; external and internal demand; GDP structure (search for similar items in EconPapers)
JEL-codes: G19 G28 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2022, Revised 2022
New Economics Papers: this item is included in nep-cis and nep-ene
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