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Economic Situation in the Far Eastern Federal District in 2020

Author

Listed:
  • Olga Mikhailovna Prokapalo

    (Economic Research Institute FEB RAS)

  • Anna Borisovna Bardal

    (Economic Research Institute FEB RAS)

  • Artyom Gennadyevich Isaev

    (Economic Research Institute FEB RAS)

  • Marina Gamilovna Mazitova

    (Economic Research Institute FEB RAS)

  • Denis Vladimirovich Suslov

    (Economic Research Institute FEB RAS)

Abstract

The article includes an analysis of the most significant trends in the socio-economic development of the Far Eastern Federal District in 2020 in the context of administrative units and main types of economic activity. The analysis is based on advanced statistical, analytical, and expert information. The article considers the most important factors and issues of the functioning of the real sector of the economy, the social sphere, and foreign economic activity in the conditions of uncertainty in the oil and foreign exchange markets, as well as the implementation of quarantine and restrictive measures due to the propagation of the coronavirus infection. There is a decrease in investment in Amur Oblast, Sakhalin Oblast, Primorsky Krai, and the Republic of Sakha (Yakutia), which are the main ‘investment-intensive’ regions of the Far Eastern Federal District. There is still a significant industry asymmetry when it comes to attracting foreign direct investment, most of which is concentrated in the exploration and production of fuel and energy resources. The negative impact of macroeconomic shocks has led to a decrease in the volume of production in the industrial complex of the macroregion, especially affecting mechanical engineering, oil refining, and production of construction materials in Primorsky Krai and Khabarovsk Krai. The failure to implement the plans for the development of the railway infrastructure in the context of the growth of cargo flows to the seaports of the Far Eastern basin led to restrictions on cargo transportation. The reduction in the real monetary income of people in most regions of the Far Eastern Federal District is becoming a factor in reducing the attractiveness of the Far East as the high income area. The population of the macroregion has continued to decline not only due to migration outflow, but also due to natural population decline as a result of both factors of objective decline in the birth rate and the social and economic consequences of the pandemic

Suggested Citation

  • Olga Mikhailovna Prokapalo & Anna Borisovna Bardal & Artyom Gennadyevich Isaev & Marina Gamilovna Mazitova & Denis Vladimirovich Suslov, 2021. "Economic Situation in the Far Eastern Federal District in 2020," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 2, pages 81-126.
    • Handle: RePEc:far:spaeco:y:2021:i:2:p:81-126
    DOI: https://dx.doi.org/10.14530/se.2021.2.081-126
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    More about this item

    Keywords

    monitoring; GRP; industrial production; investment; inflation; labor market; standard of living; foreign trade; foreign investment; Far Eastern Federal District;
    All these keywords.

    JEL classification:

    • L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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