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The Russian economy has largely improved since 1999. The Russian
economic growth has been positive and high for the 6th consecutive
year since the financial crisis that occurred in 1998.
Russia has also improved its international trade exchange situation.
The Russian trade balance is structurally positive, thanks to
the natural resources that the country owns and exports (oil,
natural gas or metal for example).
However, there are still some economic issues that have to
be faced. Russia heavily depends on the natural resources exports.
Russia's manufacturing base is dilapidated and must be replaced
or modernized if the country is to achieve broad-based economic
growth.
| (USD
billions) |
2000 |
2001 |
2002 |
2003 |
2004 |
2005
(f) |
| Economic growth (%) |
10,0 |
5,1 |
4,7 |
7,3 |
7,1 |
6,0 |
| Inflation (%) |
20,2 |
19,0 |
15,0 |
12,0 |
11,7 |
11,9 |
| Public sector balance (%GDP) |
1,0 |
3,0 |
1,0 |
2,0 |
4,0 |
3,0 |
| Exports |
91,2 |
86,5 |
90,9 |
114,6 |
152,4 |
171,4 |
| Imports |
31,4 |
40,7 |
49,0 |
60,0 |
76,0 |
96,0 |
| Trade balance |
59,8 |
45,8 |
42,1 |
54,3 |
76,2 |
75,5 |
| Current account balance |
44,2 |
30,0 |
27,5 |
29,0 |
46,2 |
40,8 |
| Current account balance (%GDP) |
17,0 |
9,8 |
8,0 |
6,7 |
7,9 |
5,7 |
| Foreign debt (%GDP) |
53,3 |
42,3 |
41,6 |
41,5 |
35,5 |
30,9 |
| Debt service (%Exports) |
21,5 |
19,9 |
19,4 |
15,8 |
14,7 |
21,7 |
| Foreign exchange reserves (in months of imports) |
5,1 |
5,7 |
6,8 |
8,6 |
11,5 |
11,3 |
(e) estimated (f) forecast
Source: Cofacerating |
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