Russia

Russia

Introduction

Official name of Russia is the Russian Federation or Russia. Russia, located in Eastern Europe and northern Asia .It is the largest state of the world.

According to Freeze (2009) Today's Russia is as diverse as it is large. It is covered an area of some 6.6 million sq mills. It is by far the world's largest country. Although it's 143 million populations is both ethnically and religiously mixed, Russians make up some 80% and Russian Orthodoxy 73% respectively. Literacy in adults runs at 99.5% and Russia has the highest graduate levels in the world at 54% for adults between 25 and 64 years old. Generally speaking the winters in most of Russia are harsh, however, the climate ranges from Arctic to Sub-tropical and summers can be hot anyway in the country.

Discussion

Main natural resources of Russia

Main Natural resources of Russia are Natural gas, coal, oil, ores of ferrous and nonferrous metals, potassium, sodium, gold, diamonds, precious and semi-precious stones. Of the 30 most important minerals known, Russia has reserves of 15 minerals in amounts that exceed the reserves of other countries (Freeze, 2009).

Russia has enormous biological reserves. 42% of its territory is covered with forests, which are medicinal plants, precious types of wood, leather.

Arable lands occupy an area of ??105 hectares. Russia is rich in aquatic resources with hydroelectric plants in the major rivers (Lena, Irtysh, Enisey, Ob, Volga, Amur), as well as Lakes Baikal, Ladoga and Onega.

Exports and imports of Russia

The oil and its derivatives, cereals, chemicals, weapons defense, metals, timber, foodstuffs, machinery and equipment are part of the structure of Russian exports.

Until recently, the Foreign Trade in the Russian Federation was the state monopoly. The right to operate freely in the foreign market was awarded to Russian companies only in the early 90's with the liberalization of trade. During the years after the proclamation of trade liberalization, the mechanism of state regulation lay in the gradual abandonment of administrative methods while maintaining some control over the activities of Russian exporters and importers in international markets. Government control at this stage is characterized by two main features: the desire to join the world economic system and application circumstantial protectionist instruments, both tariff and other measures.

Key economic Indicators of Russia in year 2011

According to the most recent compilation of key economic indicators of year 2011, the output index of main economic activities increased by 5,1 percent from January till December, last year. The strongest growth in the last quarter was registered in October 2012 at an increase of 7,5 percent.

GDP Rate of Russia

According to World Bank Research report (World Bank,2012) Russia's economy has sixth rank in the world economy in terms of GDP at PPP (purchasing power parity) in 2011 and eleventh rank in the world economy in terms of nominal GDP.

Last year (2011) Russia's gross domestic product grew by 4.2 percent, the world's third highest growth rate among leading economies.

Nominal GDP of Russia in 2011 amounted to 44.5 trillion rubles, and GDP in PPP terms - $ 2.23 trillion. Last year Russia grew GDP by ...