A brief introduction to Business In Russia
Business in Russia provides ample scope of flourishing in ones business. The strong trend in the sector of business in Russia is due to the increase in the disposable income in Russia.
Business in Russia is catching up especially in the following sectors like cosmetics, toiletries, franchising, product building, automobile parts, hardware, equipments related to telecommunication, software etc.,. Business in Russia is also favorable for gas as well as oil equipments, equipments related to medical field, pharmaceutical industry, agricultural equipments, equipments for construction.
Business in Russia-growth opportunities:
Studies reveal possibilities in growth in those fields which are related to services and consumer goods .
Business reports suggest that the spending capacity of the consumers coupled with growth in construction related sector contributed to the growth of the economy in the year 2005.
The per capita gross domestic product had attained the $5,300 mark in the year 2005. This was in sharp contrast to the figure $4,039 attained in the year 2004. The rate of growth was 8.7% and the real disposable income in 2005 exceeded the GDP growth rate. Russia’s position in the international scenario also improved to a considerable extent.
This is proved by the fact that a dramatic decrease in debt in relation to the foreign market was noticed. The international debt decreased from 90% of the gross domestic product or GDP to approximately 28% of the gross domestic product or GDP. It has been observed that profits in fixed real capital investments accounted for more than 10% for the last few years.
Revenues generated from the export of oil have assisted Russia in enhancing the foreign reserves. This enhancement accounted for an increase from $12 billion to approximately $120 billion by 2004 end. As a result of this enhancement together with efforts of the Government to improve on reform policies, have won the confidence of the business sector and opened vistas for investment.
Last Updated on : 25th June 2013