Economic Situation in the Far Eastern Federal District in 2023

Abstract

The article analyzes the socio-economic situation in the Far Eastern Federal District in 2023 by main types of economic activities and territorial-administrative regions on the basis of operational statistical, analytical, and expert information. The issues of functioning of the real sector of the economy, social sphere, foreign economic activity in the context of continuing sanctions pressure are considered. It is noted that the instability and inconsistency of development trends in certain sectors of the economy remain. The index of output of basic types of economic activities demonstrates positive dynamics with a growth rate above the level of 2022. Investment activity remained at a high level despite the existing shock restrictions. A large increase in investment in fixed assets is associated with the implementation of the largest, including export-oriented, projects in the field of oil and gas chemistry, mining, reconstruction of transport and logistics infrastructure due to the new geography of trade interactions. The overall growth of industrial output was mainly due to the increase in hydrocarbon production in the Sakhalin Oblast’ and a significant increase in fish haul in the Kamchatka Krai. The construction sector demonstrates the greatest resistance to external shocks, with positive dynamics for the second year in a row due to, among other things, the expansion of housing construction. Freight transportation by all types of transport in the Far Eastern Federal District, with the exception of road transport, had positive dynamics. The issue that persisted was that of the deficit of carrying capacity of the Eastern polygon of railroads. Foreign trade was characterized by an increase in the physical volumes of exports and imports. One of the factors of economic growth was the expansion of consumer demand under the conditions of growth of real incomes of the population and declining inflation rate. Against this backdrop, there are numerous negative factors that may become serious obstacles to further growth: the inflation rate remains ahead of the economic growth dynamics; the number of workers, including highly skilled ones, decreases; the population continues to decline due to both natural loss and migration outflow

Keywords

• sanctions pressure
• monitoring
• investment
• infrastructure
• inflation
• social sphere
• labor market
• foreign trade
• far eastern federal district