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That's a bit disingenuous regarding Russia. It's true that hydrocarbons are the lion's share but take a look at this list for example. https://tradingeconomics
by VK538FY 4y ago
That's a bit disingenuous regarding Russia. It's true that hydrocarbons are the lion's share but take a look at this list for example.
https://tradingeconomics.com/russia/exports https://tradingeconomics.com/russia/exports
I'm often surprised by what I learn of the Russian economy, especially over the past year.
- Nobles gases used for the production of semiconductors are produced in large part by Russia. I've seen and forgotten some other examples where I said to myself 'huh, I didn't know that was made in Russia... ooops'.
- Russia produces significantly more cereals than Ukraine. Worth mentioning, since it comes up frequently.
- Hydrocarbons are the biggest combined export but the relative amount and the very low cost of production are impressive, downright advantageous.
- Russia's GDP is often understated (see nominal vs PPP basis), making its true economic size comparable to that of Germany while far less dependant on services.
- Russia has an enormous appetite for imports (luxury goods and consumer electronics come to mind) but it's worth noting that shelves are far from empty and the Russian agricultural and food transformation industries have really stepped up their game in the past 10 or so years.
There's a lot of condescension towards the Russian economy that is propelled by western 'Russia experts' who frankly aren't very smart or honest. Downright dangerous if you ask me, since western politicians may very well base their decisions on incomplete or incorrect information.