Economic Situation in the Far Eastern Federal District in 2019

Abstract

The paper explores the socio-economic state of the Far Eastern Federal District (FEFD) in 2019 as to administrative regions and industries therein based on current statistics and expertise. The key factors and problematic issues of the main industries are being investigated as well as those in the social sector and the foreign economic activity under financial and geopolitical shocks. Comparison is drawn between the FEFD socio-economic situation and the mean Russian parameters. It is demonstrated that the FEFD economy is characterized by stable dynamics of the key macroeconomic indicators with signs of instability in certain sectors. It is stressed that the industrial production growth at the rate that outperforms the national mean level is secured by ongoing projects in mining and contractual works in water vessel and aircraft manufacturing, and the defense sector. A moderate accretion of investment resources is still in place while the interest of foreign investors goes toward projects in extracting natural resources, especially in fuel and energy sector and production of export-oriented goods. Against the background of shrinking construction volume there is economic recovery in civil engineering still. Positive dynamics are seen in aviation, railway and marine transport. A slow regular increase in real income is registered while the agribusiness output is reducing due to a cutback in crop production and slackened foreign trade activity due to decreasing value of exports with the global reduction of prices for main export commodity groups. The depopulation of FEFD has continued, both as a result of the migration outflow and m a change for the worse in natural reproduction statistics showing a lower birth rate against the insufficiently low mortality rate

Keywords

• monitoring
• grp
• industrial production
• investments
• inflation
• population income
• migration
• foreign trade
• foreign investments
• far eastern federal district