Timber industry complex of the Leningrad region: Current state and development prospects

Each region of the Russian Federation occupies a special place in the geopolitical and national space, representing a territory that includes economic entities, resources and factors of production, the interaction of which is aimed at sustainable economic development. Russia is the largest forest power in the world, but lags behind other countries in terms of the main technical and economic indicators of forest use and production of wood products. The problems of forest conservation and use are becoming more diverse and complex. Purpose: identification of problems and prospects for the development of the timber industry complex in the Leningrad region. And an assessment of the impact on the development of the sectoral and regional economy. Methods: financial and economic analysis, analytical and comparative approaches, a set of methods of economic and statistical analysis and generalization. Results: The development of the regional economy is one of the priorities of the state. The contribution of the timber industry to the economy of the country and the region is at a low level and is not one of the leading branches of the Russian industry. A number of government support measures are needed to achieve high industry performance. It is necessary to switch to an intensive forest management system that will increase the productivity of forest use, combat illegal logging, and create a favorable investment climate. Practical implications: It is advisable to use the results of the study when developing a program for the development of the region's economy, which includes measures of state support for entrepreneurship, including support for the timber industry through the introduction of innovative technologies and innovations.