After the end of the Soviet Union , Russia began a transition from the planned to the market economy. During this process, in the 1990s, it entered a deep economic crisis, with a fall of almost 10% of its GDP and an increase in poverty and unemployment.
However, as of the 2000s, Russia’s economy started to grow again, due to the devaluation of the currency, which stimulated exports and, above all, the high price of oil, its main export product. In addition, with the economic opening, the country started to attract many foreign investors interested in the consumer market. Thus, the Russian Federation emerges as an emerging country , such as Brazil, India, China and South Africa, which together make up the BRICS.
Russian agrarian space
According to Proexchangerates, Russia is one of the largest agricultural producers in the world, leading the export of wheat and rye, and one of the world’s largest suppliers of barley and oats. Its production is concentrated in Western Russia and the Caucasus.
The western Russia has temperate climate and extensive patch of fertile soil – known as tchernozion – factors that allow two crops a year. In this region, the predominant crops are wheat, oats, barley, oats and sunflowers, in addition to the large production of potatoes and sugar beet.
In the Caucasus region , where the climate is warmer, subtropical cultures predominate, such as cotton, grapes, citrus fruits and vegetables. Russian livestock is also more present in the Caucasus and Western Russia and stands out in the breeding of pigs, sheep and cattle.
In the Siberia region , where the polar and cold climate predominates, the soil is covered by snow most of the year, which restricts agricultural production in this area.
However, in this region there is the largest coniferous forest in the world, called taiga, where the exploitation of forest resources for the production of wood, paper and cellulose stands out.
Despite being one of the largest agricultural producers in the world, Russia still does not produce enough to supply its domestic market. With this, the Russian government has sought to achieve its food self-sufficiency, trying to take advantage of the agricultural potential of about 220 million hectares of agricultural land in the country.
Mineral resources and industry
Russia’s industrial park is based on the infrastructure inherited from the USSR, which stood out in the sectors of heavy industry, energy and mining and developed close to major sources of raw materials. As a result, in general, industries are not concentrated in just a portion of the country.
In the western portion , industries are close to major urban centers, especially Moscow and St. Petersburg. With a large consumer market, this region has diversified industrialization, with textile factories, household appliances, automobiles, etc.
In the Ural Mountains region , there are the largest mineral reserves in Russia. For this reason, the steel, metallurgical and petrochemical industries are concentrated there. Other important industrial centers in these sectors are located in Siberia, close to the largest coal deposits in the country.
In addition, Russia is one of the largest exporters of oil and natural gas in the world, a sector that represents a significant part of the country’s GDP. The largest production is located in the Volga-Ural Basin region and Western Siberia.
