YakutiaToday.Com - The Economy of the Sakha Republic (Yakutia)

About the Project | Project Coordinator | Contact Us | Partners |

Region Info



	General Information

	Administrative Devisions

	History

	Politics

	Foreign Relations

	Economy & Investment

	Education

	Science

	Nature & Environment

	Culture

	Sports

	Media

	Shamanism

	Maps

Home :: Region Info :: Economy :: Macroeconomic Index

ECONOMY

Macroeconomic Index

During the last five years the positive rates of economic development was marked: the GRP and the volumes of industrial and agricultural production are growing.

In 2003 the Sakha Republic held the 15th position among the regions of the Russian Federation on the total level of economic development (in accordance with an integral complex value of the Russian Federation Ministry of Economic Development and Trade). Specific weight of the republic in production of GRP of the Russian Federation is 1.3 per cent. The volume of GRP per capita is about 166 per cent of an average level in Russia (4th position in the Russian Federation). The Sakha Republic (Yakutia) is one of 16 regions of the Russian Federation with relatively high development, which produce more than half from joint added cost of goods and services manufactured by the whole Russian Federation. The Ministry of Economic Development of Russia estimated that in 2005-2007 the industrial production would rise on the territory of Yakutia (to 130 per cent) mainly because of the development of fuel industry.

The Sakha Republic (Yakutia) plays a leading role in the Far East region in every direction of economic and social development spheres: the 1st positions in industrial and agricultural production, dwelling houses building, public catering; the 2nd position in export and 3rd position in fixed capital investments. The republic has the lowest level of official unemployment and it is one of several Russia's regions, where natural increase of population is continuing.

In 2004 the GRP of the Sakha Republic (Yakutia) in current prices reached 151.9 billion rubles, that is 106.5 per cent to 2003 in comparable prices. The growth was mainly due to the rise in industry, agriculture, construction, transportation and communication, trade, public catering. During 2000-2004 according to the level of GRP volume per capita the republic held the 3rd – 4th positions in the Russian Federation and the 1st position among the regions of the Far East Federal District.