Russia is
one of the key actors in the global economy. Its
contribution is at the core of numerous stakes across the world.
With a great
market of + 144 million consumers, Russia has an upper-middle
income mixed economy with enormous natural resources, particularly oil and
natural gas. 7 percent of the Russian
population is categorized as middle class.
Oil, natural
gas, metals, and timber account for more than 80% of
Russian exports abroad. As of April 2017, foreign reserves in Russia fell to
332 USD Billion.
Russia has a flat tax rate of 13%. This ranks it as the country with the second
most attractive personal tax system for single managers in the world after the
United Arab Emirates.
The country has a higher proportion of higher education graduates than any other country
in Eurasia.
Starting
2019 Russia plans to provide natural gas to China
for the next 30 years.
The economic
development of the country has been uneven geographically with
the Moscow region contributing a very large share of the country's GDP.
The
government has said $1 trillion will be
invested in development of infrastructure by 2020.
Russia
joined the World Trade Organisation, allowing it a greater access to overseas
markets.
Lada is the brand of AvtoVAZ, the largest Russian car manufacturer.
Russia is
the world's top producer of barley, buckwheat and oats,
and one of the largest producers and exporters of rye, sunflower seed and
wheat.
While large
farms concentrate mainly on grain production and husbandry products, small
private household plots produce most of the country's potatoes, vegetables and
fruits.
Russian
fishing fleets are a major world fish supplier.
Russia has
more than a fifth of the world's forests, which makes it the largest forest country
in the world.
Russia is a key oil and gas supplier to much of Europe.
Russia has
frequently been described in the media as an energy superpower. The country has the world's largest natural gas reserves, the 8th
largest oil reserves, and the second largest coal reserves. Russia is the world's leading natural
gas exporter and second largest natural gas producer, while also the largest
oil exporter and the largest oil producer.
Russia is the 3rd largest electricity producer in the world and the 5th largest
renewable energy producer, the latter because of the well-developed
hydroelectricity production in the country.
Large
cascades of hydropower plants are built in European Russia
along big rivers like the Volga. The
Asian part of Russia also features a number of major hydropower stations,
however the gigantic hydroelectric potential of Siberia and the Russian Far
East largely remains unexploited.
Russia was the first country to develop civilian nuclear power and to construct
the world's first nuclear power plant. Currently
the country is the 4th largest nuclear energy producer, with all nuclear
power in Russia being managed by Rosatom State Corporation.
The Russian
government plans to allocate 127 billion rubles
($5.42 billion) to a federal program dedicated to the next generation of
nuclear energy technology.
Railway
transport in Russia is mostly under the control of the state-run Russian Railways
monopoly.
Much of
Russia's inland waterways, which total 102,000 km
(63,380 mi), are made up of natural rivers or lakes.
Russia's
capital, Moscow, is sometimes called "the port of the five
seas", because of its waterway connections to the Baltic, White, Caspian,
Azov and Black Seas.
Major sea
ports of Russia include Rostov-on-Don on the Azov Sea,
Novorossiysk on the Black Sea, Astrakhan and Makhachkala on the Caspian,
Kaliningrad and St Petersburg on the Baltic, Arkhangelsk on the White Sea,
Murmansk on the Barents Sea, Petropavlovsk-Kamchatsky and Vladivostok on the
Pacific Ocean.
The world's
only fleet of nuclear-powered icebreakers advances
the economic exploitation of the Arctic continental shelf of Russia and the
development of sea trade through the Northern Sea Route between Europe and East
Asia.
Russia has 1,216 airports, the busiest being Sheremetyevo, Domodedovo, and
Vnukovo in Moscow, and Pulkovo in St. Petersburg.
Major
Russian cities have well-developed systems of public
transport, with the most common varieties of exploited vehicles being bus,
trolleybus and tram.
Currently
Russia has completed the GLONASS satellite navigation system. The country is developing
its own fifth-generation jet fighter and constructing the first serial mobile
nuclear plant in the world.
Nowadays
Russia is the largest satellite launcher. After the
United States Space Shuttle program ended in 2011, Soyuz rockets became the
only provider of transport for astronauts at the International Space Station.
In Russia, approximately 70 per cent of drinking water comes from surface water and
30 per cent from groundwater. The water utilities sector is one of the largest
industries in Russia serving the entire Russian population.
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