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ECONOMY

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In January-June, 2017 the social and economic development of the Chuvash Republic was characterized by the growth of industrial and agricultural production, retail turnover, increase in the nominal and actual average monthly salary, real disposable financial income of the population, while the inflation rate was lower than the country average.

In January-June, 2017 the situation in different economic fields was characterized as follows:

Inflationary development:

  • Х in the period of December, 2016 Ц June, 2017 the consumer price index amounted 102.1% which is lower than the country average (102,3%);
  • Х by the end of June, 2017 cost of the minimum set of food products per person increased by 19.1% as compared with the beginning of the year, and by 7,6% as compared with the previous months

Industry:
there was an increase in the manufacturing industries represented by organization which produce:

  • Х other transport and transportation facilities Ц 151.3% (by the corresponding period of the previous year) due to the increase in the production of railroad locomotives and railroad rolling stocks (155.8%);
  • Х textile products Ц 124.1%;
  • Х chemical agents and products Ц 122.2% due to the increase in the production of pesticides and other agrochemical products (131.5%), soap and washing agents (106.9%), other chemical products (111.5%);
  • Х machinery and equipment which are not included into other categories Ц 110.9% due to the increase in the production of other special-purpose machinery and equipment (109.6%), construction of machine tools (115.2%), but at the same time the production of agricultural and forestry machinery and equipment decreased has decreased (86.5%);
  • Х production of rubber and plastics products Ц 108.9% due to the increase in the output of plastic products (102.3%), rubber products (133.1%);
  • Х leather and leather products Ц 108.3% due to the increase in shoemaking (104.5%), skin curing and leather finishing, production of leather suitcases, bags and etc. (160%);
  • Х motor vehicles, trailers and semitrailers Ц 100.9% due to the increase in the production of vehicle components and accessories (133.1%), but at the same time the production of motor vehicles has decreased (74.4%);

there was a decrease in the output of organizations which produce:

  • Х paper and paper products Ц 83.7% due to the decrease in the production of paper and carton products (92.3%);
  • Х other non-metallic mineral products Ц 90.4% due to decrease in the production of glass and glass products (42.2%), construction ceramic materials (72.8%) and etc.;
  • Х wood processing and production of wood and cork products, except furniture, production of straw products and wickerwork products Ц 91.5% due to the decrease in the production of paper and paper products (83.7%);
  • Х drinks Ц 91.6%;
  • Х food products Ц 93.2% due to the decrease in the production of dairy products (81.3%), processing and preservation of meat and meat products Ц (90.5%), bread and flour confectionary products (97.8%) and other metallic end products, except machinery and equipment, Ц 99% due to the decrease in the production of universal hardware products (72%).

Agricultural industry:

  • Х by January Ц June, 2016 the increase in the index of agricultural production of establishments of all categories by 1.5%;
  • Х increase in the milk categories of all establishments by 1.8%, egg production Ц 1.3%, decrease in the production of meat by 1.5%;

Investment:

  • Х increase in the volume of investments in fixed capital by 32.8% by January Ц March, 2017;
  • Х decrease in the volume of works provided in the field of УConstructionФ by 23.4%, the total area of commissioned housing Ц by 28.2%. Decrease in the volume of construction activities is associated with the decrease in the investment activity of construction organizations due to the high costs for loan resources, as well as decrease in the volume of shared-equity housing construction due to the decrease in the solvency of the population.
  • ConsumerТs market:

    • Х increase in overall retail turnover in all market outlets in comparable prices Ц by 1.2%, decrease in the volume of commercial services for population Ц by 0.4%;
    • Х increase in the volume of veterinary services (120.9% by January Ц June, 2016), physical training and sport services (107.8%), telecommunication services (105.5%), services of travel agencies (104.1%), medical services (104%), domestic services (102.8%), postage services (100.1%), decrease in the volume of educational system services (98.2%), transportation services (93.5%), communal (96.8%) and housing (99.2%) services, hotels and other similar accommodation facilities (90.7%), health resort services (84.8%), legal services (86.8%), cultural services (88.8%);

    Social field:

    • Х increase in the nominal average monthly salary in January Ц May, 2017 by 8%, actual salary Ц by 4.7%, growth of the actual financial income of the population in January-May, 2017 Ц by 1%;

    International economic activity:

    • Х according to Privolzhsky Customs Directorate in January Ц May, 2017 the foreign trade turnover of the Chuvash Republic made up 211.5 million USD;
    • Х export made up 79.6 million USD, import Ц 131.9 USD.

    Primary source Ц The Ministry of Economic Development of the Chuvash Republic

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