Russia (Russian Federation)

Annual inflation in Russia accelerated to 6.69% in October 2023 against 6% in September. On a monthly basis, consumer prices increased by 0.83%, according to Rosstat data.

According to the Ministry of Economic Development, with the exception of the seasonal factor, GDP grew in September (+0.3% SA) compared to +0.4% SA in August, and in annual terms, GDP growth in September is estimated at 5.2% YoY, as it was a month earlier.

The West Siberian Scientific and Educational Center in Russia has patented a method for swiftly transforming natural gas into solid granules using biodegradable catalysts. This innovation enables the transportation of gas from fields without the need for pipelines or liquefaction.

Under the current geopolitical situation and sanctions pressure, the development of local production and search for promising sales markets is a priority task. Russian shipbuilding is one of the key industries with significant potential.

In 2022, difficulties appeared in the Russian agricultural machinery market with the lack of components necessary for the production, which were imported into Russia mainly from EU countries before the sanctions.

The Treaty on Good Neighborliness, Friendship, and Cooperation between the two countries signed on July 16, 2001, serves as the foundation for Russian-Chinese trade and economic cooperation

The pharmaceutical industry is one of the key ones in the structure of the national economy and in the global market. The pharmaceutical industry is an important part of the global healthcare system, while it occupies a special position in the global economy.

According to the Ministry of Economic Development, with the exception of the seasonal factor in July, GDP accelerated growth to (+0.5% SA) compared to +0.1% SA in June

Potato processing is actively developing in Russia today. Among the most popular types of potato processing products, frozen fries, crispy potatoes, chips, dry mashed potatoes can be distinguished.

The Russian State Statistical Agency (Rosstat) published data on industrial production for July and at the same time, in accordance with the regulations, conducted an annual revision of data for 2022 and 1H23.