Norway Sweden Finland Murmansk Obl. Rep. of Karelia Arkhangelsk Obl. Nenets AO Rep. of Komi

The situation in Barents Russia

Where is the most diversified economy, the biggest growth and the most prosperous populations? And where do foreign investors place their money? Read more about the social-economic situation in Barents Russia in a new survey from BarentsObserver.

Did you know that per capita GRP in 2009 was more than five times higher in the Nenets Autonomous Okrug than in neigbouring Arkhangelsk Oblast, that the Komi Republic is the economically most powerful subjects in the region and that Murmansk has the lowest figures on foreign investments?

Check out BarentsObserver’s new social-economic survey for the five federal subjects in Barents Russia here.

The Barents Region
The Barents Region

The survey displays the Komi Republic as the by far most economically powerful subject in the region with a gross regional product (GRP) of close to 300 billion RUB. Murmansk and Arkhangelsk Oblasts follow with slightly above 200 billion RUB, while the Republic of Karelia and the Nenets AO have the lowest GRP of the region. On per capita GRP, however, the small but oil-rich Nenets AO is way above the other regions.

The survey also gives an overview of the economic structure of the regions. All figures are based on results from 2009.

With the exception of the Nenets AO, all the five regions in 2009 struggled with negative industrial production growth. In the last two months of the year however, all regions, except the Republic of Karelia experienced renewed growth in output. Similar negative results are seen in the construction industry and in investments.

The Komi Republic was the region with the highest level of foreign investments, while Murmansk Oblast was the region with the by far smallest investments. The biggest drop in foreign investments was in 2009 registered in the Nenets AO.

The social-economic survey is based primarily on figures from the Barents Monitoring reports and is composed by the Norwegian Barents Secretariat’s office in Arkhangelsk.

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