Media ININ Economy We Trust
Abu Dhabi on 15-10-2019 / WAM
The Russian economy, which is based on the oil and gas sector, is developing with positive indicators in many vital sectors during the past year, while the volume of foreign investment in three vital sectors reached about $ 91 billion, opening new areas for cooperation with the world in light of the opportunities to increase UAE exports to Russia is about $ 185 million, mostly concentrated in commodity groups, according to the World Trade Center of the World Trade Organization and the United Nations.
In the following report, WAM monitors the development of the most important sectors that contribute to the growth of the Russian economy.Russia achieved the highest level of oil production last year, with an average daily production of 11.16 million barrels of oil in 2018 compared to 10.98 million barrels in 2018. 2017 oil is Russia’s highest export and represents about 28% of Russia’s total national exports.
Foreign investments in Russia’s oil and gas sector amounted to about 33 billion dollars, making it the fourth largest among the largest sectors attracting foreign investment, while Germany, the United States, France, Finland and Britain are the largest investors in the oil and gas sector in Russia, according to data released by fDi Markets.
Russia has huge agricultural resources of more than 10 million hectares of arable land, with annual agricultural revenues of about $ 76 billion and between 2017 and 2018 Russia ranked first globally in the production of barley and first in the world wheat export.
Russia is the second largest producer of sunflower seeds and the third largest producer of potatoes and milk in addition to the fifth largest producer of eggs and chicken meat in the world, where the value of foreign investment in the Russian food and tobacco sector has reached about 37 billion dollars since 2003, ranking this second among the sectors attracting investment Foreigner in Russia.
Russia has enormous natural wealth of minerals, which are in the top three ranks in the world in terms of reserves of diamonds, gold, coal, iron and platinum.Russia’s share of world exports of nickel about 49% and diamonds 33% and aluminum 26% and platinum 13% and iron 7% and copper about 4% Foreign investment in the mining and mining sector is about $ 21 billion, with the sector ranked third among the most attractive sectors for foreign direct investment in Russia.
Russia is seeking to complete a number of projects aimed at renovating highways, airports, railways, ports and infrastructure until the end of 2024. The projects are valued at about $ 100 billion and are aimed primarily at strengthening the link between Russian regions, Europe, West China and the North Sea Road. Russia has enormous borders with 17 different countries, its average location and its multiple ports.
