The Transportation Complex in Russia in 2019
Russian Economy in 2019. Trends and Outlooks. Moscow. IEP. 2020. Issue 41, pp. 239-261 (2020)
25 Pages Posted: 28 Oct 2020
Date Written: September 6, 2020
The transportation complex and its development, in particular the development of transportation infrastructure, is one of the most important factors of economic growth. Investments in infrastructure invariably have a huge impact on long-term economic growth. A lack of proper infrastructure development can give rise to bottlenecks, imbalances and a significant increase in the cost of doing business. The transportation and logistics complex and related activities play a significant role in the functioning of Russia’s national economy. According to data released by Rosstat, the transportation industry’s share in GDP in 2017 and 2018 was 7.0% and 6.5%, respectively, and at year-end 2019, it was 6.6%. According to the estimates released by the RF Ministry of Economic Development, from 2016 onwards the transportation sector has been making a positive input into GDP growth: 0.09 percentage points in 2016, 0.01 percentage points in 2017, and 0.19 percentage points in 2018; in Q1 and Q2 2019, 0.21 and 0.19 percentage points, respectively; and by year-end 2019, the annual input of the transportation industry into GDP growth is forecast be 0.12 percentage points. Through the existing inter-industry links, the transportation complex influences almost every sector of the national economy.
Keywords: Russian economy, foreign trade, customs regulation
JEL Classification: L91, L92, L93, L99
Suggested Citation: Suggested Citation