Outside the flourishing energy sector, the economic situation has always been much less encouraging, not just during the current crisis. For example, manufacturing output has declined by 10% since 2003. In 2013, manufactured goods made up just 17% of Russian merchandise exports, compared to 83% for Germany, 77% for Poland and 86% for South Korea. Manufacturing productivity, though rising, is still only around 40% of the Organisation for Economic Co- operation and Development (OECD) average, with particularly low levels in the machinery, equipment and transport equipment sectors.
Key dates in Russian economic history in relation to GDP growth/oil price
Key dates in Russian economic history in relation to GDP growth/oil price
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