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Industrial Production Dynamics in Q3 2021
[Динамика Промышленного Производства В Третьем Квартале 2021 Г]

Author

Listed:
  • Kaukin Andrey

    (Russian Presidential Academy of National Economy and Public Administration; Gaidar Institute for Economic Policy)

  • Miller Eugenia

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

In Q3 2021, industrial output growth was mainly driven by extractive industries owing to a pickup in demand for power-generating coal and natural gas and ebbing restrictions related to the OPEC+ agreement. The following factors kept affecting dynamics of different sectors of the Russian industry: further anti-COVID restrictive measures introduced both in Russia and its main trade partner countries (particularly, China); soaring prices for primary commodities (for the chemical industry and metallurgy) on the world’s commodity exchanges; termination of government support programs and consumer demand stimulating measures (for the light industry and the engineering industry). The article was prepared in the framework of execution of state order by RANEPA («Approaches to studying the impact of consumer demand on the formation of incentives for technological development of firms»).

Suggested Citation

  • Kaukin Andrey & Miller Eugenia, 2021. "Industrial Production Dynamics in Q3 2021 [Динамика Промышленного Производства В Третьем Квартале 2021 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 11, pages 39-44, November.
    • Handle: RePEc:gai:recdev:r21120
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    More about this item

    Keywords

    industrial sector; sectors of economy; mining industry; manufacturing; Rosstat; OPEC+ deal;
    All these keywords.

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • L7 - Industrial Organization - - Industry Studies: Primary Products and Construction
    • L8 - Industrial Organization - - Industry Studies: Services
    • L9 - Industrial Organization - - Industry Studies: Transportation and Utilities

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