and iron; F: steel and iron; G: Other
Russian export tippled in nine years. The most important Russian export commodities are represented in graph. The leading export commodity is fuel, followed by gas. Mineral fuels, lubricants and related materials export has increased the most, from 13% of total export in 2000 to 46% in 2009. The largest share of this increase goes to petroleum and gas export. In 2009 chemicals and related products, manufactured goods, machinery and transport equipment and miscellaneous manufactured articles represented 13,5% of total export. Data suggest that Russian export is very dependent on primary goods export. Politics is trying to avoid all negative impacts of resource based economy, including Dutch disease, but they are not successful in diversifying Russian s economy. They are struggling to make their oligarchs owned industry more efficient, but distortions are too large.
4. Concluding comparison
Brazil and Russian Federation are both middle income countries. They have gained international interest in 2002 when they were declared as members of BRIC countries, who have chance to become world s leaders in the future or at least play more visible role in world order.in economic development indicators are most visible in population movement. When Brazil experiences high population growth Russian Federation grew at negative rate, which can in longer turn mean obstacle to growth. Income inequality is higher in Brazil, but is becoming lower, when in Russia the opposite is true. Brazil ranked 58 and Russia 63 with concern to global competitiveness index 2010-11. Brazil is doing much better fighting inflation than Russia, but Brazil experiences lower GDP growth rates. Russia has actually no public debt, with just 5,9% GDP debt (due to oil revenues), Brazilian public debt is 60,8% and they managed to lower it 2,3 percentage points in ten years.GDP per capita (PPP , constant prices) more than doubled in ten years (2000 to 2010), Brazilian increased almost by one third. Brazil experienced on average 3,14% economic growth (1997-2010), Russia 4,42%. Both countries were hit by economic financial crisis 2009, but their economies were prepared. Brazilian growth in 2009 was - 0,644% and year later already 4,03%. Russian economy was hit harder, because they are more open than Brazil and due to drop in oil demand, what caused - 7,8% growth in 2009, but she was back on track next year with 4% growth.value added by economic activity is very similar between observed countries; this is due to similar economical development. The most important value added activity is for both: mining, manufacturing and utilities. 49% of total industrial value added in Russia is dedicated to fuel, what shows on resource based growth. Supply side economic gr...
