Influence of industrial production of Russian regions on foreign trade indicators

Abstract

The study is devoted to the assessment of the impact that industrial production of Russian regions has on the country’s foreign trade performance. The chosen topic is relevant due to the fact that today’s sanctions policy of various Western countries is restricting exports and imports of many types of products, which can serve as a threat to the economic security of the Russian Federation. The author of the article determines the impact of mining, manufacturing, and the provision of electricity, gas and steam on foreign trade performance by using regression analysis of panel data and the Granger causality test. It is found that an increase in mining production contributes to regional export growth but has a negative effect on imports of goods and services. The Granger causality test has not revealed the impact of manufacturing and the provision of electricity, gas and steam on foreign trade indicators.

Keywords

• mining
• manufacturing
• electricity supply
• export
• import
• granger test
• regression analysis of panel data