Several of the key industries in the Komi Republic have in 2010 experienced negative growth. The region has still managed to cut unemployment and uphold salary levels, the latest Barents Monitoring report reads.
The economy of Murmansk Oblast is strongly affected by decline. Still, the downturn is less than in other Russian regions, and the economy shows signs of revival, the latest Barents Monitoring report concludes.
While oil production dropped, the electricity generating industry and the construction industry did well in the first nine months of 2010, a new Barents Monitoring report for the Nenets Autonomous Okrug reads.
Industrial production, investments and international trade is still considerably below 2008 levels, but the economy in Murmansk Oblast is still in the process of recovery, the Barents Monitoring Q2 report for Murmansk reads.
The region, which promises to become a power house for Russian Arctic developments, struggles to overcome the consequences of the financial crisis. The region experiences low growth and does worse than the Russian average on a number of key parameters.
Despite growth in industrial output, the economy of Arkhangelsk Oblast the first six months of 2009 experienced continued crisis. A strained budget situation threatens to create an unstable social situation in parts of the region.
Industrial production in the far northern Nenets Autonomous Okrug increased 38,5 percent year-on-year in the first six months of 2009, the latest Barents Monitoring report confirms. That, however, is all thanks to Lukoil’s new Yuzhno-Khilchuyu oil field.
Production figures, investments and budget revenues continue to decline in Arkhangelsk Oblast. One of the few positive trends in the region is the development of the agricultural sector, the latest Barents Monitoring reports reads.
The region, which prepares to become a thriving center for Russian Arctic developments, is unable to spur sustainable economic growth. In 2011, industrial production declined and consumer growth stagnated, the latest Barents Monitoring report confirms.
