04 May 2004 10:38
Russia - key facts at a glance
* The oil sector accounts for 70 percent of Russia's GDP growth.
* Russia attracted US$6.8 billion in foreign investment in 2003, around 1.6 percent of its GDP. The BP-TNK oil
exploration project accounted for over 50 percent of the total.
* Less than 10 percent of Russia's enterprises finance innovation.
* Around 53 percent of the country's industrial equipment is outdated.
* The Russian State provides financial support to 40 percent of the population.
* Some 10 percent of the world's mobile phones are sold in Russia.
* The State employs 15 percent of the Russian population, compared to 8 to 10 percent in other countries. As long as
SMEs account for only10 to 15 percent of jobs, cutting employment will be socially problematic.
* Large and mid-sized Russian companies actually have reduced employment by 7 percent since 2001.
* The Russian Central Bank's reserves cover the equivalent of 13 months of the country's imports, the
eighth-largest reserves in the world.
* Banks contributed only 5 percent of total investment in Russia in 2003, compared to 26 percent in Brazil.
[Retail Banker International] |
RUSSIA IN FACTS
