Russia – Fast Facts
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Russia is an upper middle income economies comes under the Europe and Central Asian region, as to the classification made by the world bank on the basis of income and region for the year 2006.
The economic history of Russia tells that it was one among the best economies for its centrally planning. But in the present scenario it has followed the market economy system. Both the services sector as well as industrial sector has equal importance in the country’s economy. Services contribute the largest share to the GDP of the country followed by the Industries.
Russia is an upper middle income economies comes under the Europe and Central Asian region, as to the classification made by the world bank on the basis of income and region for the year 2006.
The economic history of Russia tells that it was one among the best economies for its centrally planning. But in the present scenario it has followed the market economy system. Both the services sector as well as industrial sector has equal importance in the country’s economy. Services contribute the largest share to the GDP of the country followed by the Industries.
Major agricultural products in the country are cotton, potatoes, sugar, sunflower and beat. Important industries are mining, construction, handicrafts, textiles, foodstuff and shipbuilding. The country possesses larger deposits of timber and gold.
