Economic Situation in the Far Eastern Federal District in 2016

• Main Authors: Olga Mikhailovna Prokapalo, Artyom Gennadyevich Isaev, Marina Gamilovna Mazitova
• Format: Article
• Language: Russian
• Published: Economic Research Institute of the Far East Branch of the Russian Academy of Sciences 2017-06-01
• Series: Prostranstvennaâ Èkonomika
• Subjects: monitoring; GRP; industrial production; investments; inflation; incomes; migration; foreign trade; Far Eastern Federal District
• Online Access: http://www.spatial-economics.com/images/spatial-econimics/2017_2/SE.2017.2.138-173.Prokapalo.pdf

Based on current statistical information the article analyzes conditions and trends of socio-economic development of the Far Eastern Federal District in 2016. The situation is compared with national average trends. The paper shows that socio-economic situation in the Far Eastern Federal District remains unstable and is characterized by the following trends: falling growth potential of industrial production with continued weak positive growth resulting from the growth in extractive industries; stagnating production in processing industries as a result of reduced investment due to restricted access to international financial resources and increased price of borrowing; continued negative dynamics of investment activity due to completion of large investment projects and slow development of new investment initiatives; continued negative dynamics of foreign trade; continuing sharp decreases of exports due to falling global oil and gas prices; reduction of imports across main import groups with the exceptin of machines and equipment; decline of real wages and household income