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Russian Federation

Author(s):
International Monetary Fund
Published Date:
December 2006
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Table 1a.Russian Federation: GDP by sector, 2000–2004 1/(Annual percent change of volume)
20002001200220032004
Gross domestic product10.05.14.77.37.1
Industry11.14.94.07.56.1
Agriculture12.711.42.95.72.9
Construction17.49.92.814.310.2
Transportation and communications6.15.75.88.79.5
Trade 2/12.13.98.210.910.1
Nonmarket services1.4−0.62.24.02.3
Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX). All figures include estimates of informal (unrecorded) activity.

Wholesale, retail, public catering, and procurement.

Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX). All figures include estimates of informal (unrecorded) activity.

Wholesale, retail, public catering, and procurement.

Table 1b.Russian Federation: GDP by sector, 2003–2005 1/(Annual percent change of volume)
200320042005
Gross domestic products7.37.26.4
Agriculture, hunting, and forestry5.53.01.1
Fishing3.42.04.6
Extraction10.87.91.7
Manufacturing9.57.84.4
Electricity, gas and water1.62.11.0
Construction13.010.29.7
Trade and other miscellaneous services13.29.812.4
Hotels and restaurants1.33.015.6
Transport and communications7.210.56.2
Finance9.64.56.4
Real estate3.04.59.0
Public administration and defense; social securuty−0.50.62.8
Education0.91.21.9
Health and social services−3.91.11.0
Other public utilities, social and personal services0.018.47.7
Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED). All figures include estimates of informal (unrecorded) activity.

Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED). All figures include estimates of informal (unrecorded) activity.

Table 2a.Russian Federation: GDP by sector, 2000–2004 1/(In percent of GDP at basic prices)
20002001200220032004
Production of goods45.043.140.740.341.1
Industry31.428.327.226.727.9
Agriculture6.46.65.75.45.0
Construction6.67.46.97.27.2
Other0.60.80.90.90.8
Market services46.647.648.348.748.4
Transportation and communications9.09.09.08.98.6
Trade 2/23.722.322.122.221.9
Other13.916.417.217.617.9
Nonmarket services8.49.311.011.010.6
Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX), and measured as the share of gross value added at basic prices (excludes goods and services taxes, includes subsidies; not adjusted for imputed financial services). All figures include estimates of informal (unrecorded) activity.

Including wholesale and retail trade, public catering, and procurement.

Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX), and measured as the share of gross value added at basic prices (excludes goods and services taxes, includes subsidies; not adjusted for imputed financial services). All figures include estimates of informal (unrecorded) activity.

Including wholesale and retail trade, public catering, and procurement.

Table 2b.Russian Federation: GDP by sector, 2002-2005 1/(In percent of GDP at basic prices)
2002200320042005
Gross domestic product100.0100.0100.0100.0
Agriculture, hunting, and forestry6.36.25.65.0
Fishing0.30.50.40.4
Extraction6.76.69.510.5
Manufacturing17.316.717.517.5
Electricity, gas and water3.73.63.53.4
Construction5.46.05.55.7
Trade and other miscellaneous services22.621.820.720.5
Hotels and restaurants0.90.80.90.9
Transport and communications10.210.611.110.2
Finance3.13.43.43.7
Real estate10.510.69.19.1
Public administration and defense; social securuty5.05.55.15.1
Education2.92.72.72.6
Health and social services3.33.23.13.1
Other public utilities, social and personal services1.91.92.02.1
Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED), and measured as the share of gross value added at basic prices (excludes goods and services taxes, includes subsidies; not adjusted for imputed financial services). All figures include estimates of informal (unrecorded) activity.

Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED), and measured as the share of gross value added at basic prices (excludes goods and services taxes, includes subsidies; not adjusted for imputed financial services). All figures include estimates of informal (unrecorded) activity.

Table 3.Russian Federation: GDP by Expenditure, 2000-2005
200020012002200320042005
(Annual percent change of volume)
Gross domestic product10.05.14.77.37.26.4
Consumption5.66.87.06.28.98.6
Households7.39.58.57.511.611.1
General government2.0−0.82.62.22.11.8
Non-profit institutions1.61.90.81.1−3.00.1
Gross investment75.216.7−2.613.211.511.4
Capital formation18.110.22.812.811.310.5
Net exports of goods and services−15.9−13.23.23.0−9.6−13.7
Exports9.54.210.312.511.86.3
Imports32.418.714.617.722.017.3
(In percent of nominal GDP)
Consumption61.365.868.968.165.564.5
Households45.148.350.049.447.947.0
General government15.116.417.717.616.516.5
Non-profit institutions1.11.11.21.21.11.1
Gross Investment18.721.920.120.820.820.9
Capital formation16.918.917.918.418.318.2
Changes in inventory1.83.12.12.42.52.7
Net exports of goods and services20.012.710.811.312.313.6
Exports44.136.935.335.234.535.1
Imports24.024.224.523.822.221.6
Source: Federal State Statistics Service.
Source: Federal State Statistics Service.
Table 4a.Russian Federation: Gross Industrial Output by Sector, 2000-2004 1/
20002001200220032004
(Percent change, annual average)
Total Industry11.94.93.77.06.1
Electric power generation2.31.6−0.71.00.3
Fuel4.96.17.09.37.1
Ferrous metallurgy15.7−0.23.08.95.0
Nonferrous metallurgy15.24.96.06.23.6
Chemicals and petrochemicals 2/14.94.90.74.65.9
Machinery 3/19.97.11.99.210.2
Forestry, timber processing, paper and pulp13.42.62.41.53.0
Construction materials13.15.53.06.45.3
Light industry20.95.0−3.4−2.3−7.5
Food processing 4/14.48.46.55.14.0
(In percent of 1994 level)
Total Industry110.9116.4120.7129.1137.0
Electric power generation91.392.892.193.193.3
Fuel100.3106.4113.8124.4133.2
Ferrous metallurgy131.5131.2135.1147.2154.5
Nonferrous metallurgy127.5133.8141.8150.6156.0
Chemicals and petrochemicals138.7145.5146.5153.3162.3
Machinery115.6123.8126.1137.8151.8
Forestry, timber processing, paper and pulp102.7105.3107.9109.5112.8
Construction materials76.881.083.488.893.5
Light industry58.761.659.558.153.8
Food processing96.7104.8111.6117.3122.0
Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX).

Including the chemical-pharmaceutical industry.

Including the medical machines.

Excluding the flour-and-cereals industry and feed mill industry

Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX).

Including the chemical-pharmaceutical industry.

Including the medical machines.

Excluding the flour-and-cereals industry and feed mill industry

Table 4b.Russian Federation: Gross Industrial Output by Sector, 2003-2005 1/
200320042005
(Percent change, annual average)
Total Industry8.98.34.0
Mining and extraction of natural materials8.76.81.3
Mining and quarrying of energy producing materials10.37.71.8
Mining and quarrying, except of energy producing materials2.58.5−3.2
Manufacturing10.310.55.7
Food products, including beverages and tobacco6.94.44.4
Textiles and textiles products1.2−4.0−1.5
Leather, leather products and footwear11.5−0.6−2.7
Wood and wood products9.78.74.5
Pulp, paper and paper producs; publishing and printi7.85.11.1
Coke and refined petroleum products2.22.45.4
Chemicals and chemical products5.46.62.6
Rubber and plastic products5.513.55.5
Other non-metallic mineral products7.38.43.5
Basic metals and fabricated metal products7.23.95.7
Machines and equipment19.021.1−0.1
Electrical and optical equipment43.234.520.7
Transport equipment14.011.56.0
Other manufacturing10.910.50.7
Electricity, gas and water production and supply3.31.31.2
(In percent of 2002 level)
Total Industry108.9117.9122.7
Mining and extraction of natural materials108.7116.1117.6
Mining and quarrying of energy producing materials110.3118.8120.9
Mining and quarrying, except of energy producing materials102.5111.2107.7
Manufacturing110.3121.9128.8
Food products, including beverages and tobacco106.9111.6116.5
Textiles and textiles products101.297.295.7
Leather, leather products and footwear111.5110.8107.8
Wood and wood products109.7119.2124.6
Pulp, paper and paper producs; publishing and printi107.8113.3114.5
Coke and refined petroleum products102.2104.7110.3
Chemicals and chemical products105.4112.4115.3
Rubber and plastic products105.5119.7126.3
Other non-metallic mineral products107.3116.3120.4
Basic metals and fabricated metal products107.2111.4117.7
Machines and equipment119.0144.1144.0
Electrical and optical equipment143.2192.6232.5
Transport equipment114.0127.1134.7
Other manufacturing110.9122.5123.4
Electricity, gas and water production and supply103.3104.6105.9
Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED).

Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED).

Table 5a.Russian Federation: Employment by Sector, 2000-2004 1/
20002001200220032004
(In thousands)
Total employment64,32764,71065,35965,66666,407
Industry 2/14,54314,69214,53414,34514,301
Agriculture and forestry8,6098,2007,9477,4807,167
Construction5,0025,0154,9825,0805,216
Transportation and communication5,0115,0145,0195,1395,324
Commerce, food service, material and technical

supply, marketing and procurement
9,4219,99710,83711,05511,431
Public health, physical training, social security,

education, art, culture and science
12,71912,73512,85913,07913,095
Administrative staff, lending

and state insurance
3,6673,6673,7813,9264,145
Other sectors (housing, public utilities,

other services)
5,3555,3905,4005,5625,728
(In percent of 1994 level)
Total employment93.994.595.495.997.0
Industry 2/78.379.178.277.277.0
Agriculture and forestry81.877.975.571.068.1
Construction73.773.973.474.876.8
Transportation and communication93.693.693.796.099.4
Commerce, food service, material and technical

supply, marketing and procurement
145.3154.2167.1170.5176.3
Public health, physical training, social security,

education, art, culture and science
93.593.694.596.196.2
Administrative staff, lending

and state insurance
161.0161.0166.1172.4182.0
Other sectors (housing, public utilities,

other services)
110.0110.7111.0114.3117.7
(In percent of total)
Total employment100.0100.0100.0100.0100.0
Industry 2/22.622.722.221.821.5
Agriculture and forestry13.412.712.211.410.8
Construction7.87.77.67.77.9
Transportation and communication7.87.77.77.88.0
Commerce, food service, material and technical

supply, marketing and procurement
14.615.416.616.817.2
Public health, physical training, social security,

education, art, culture and science
19.819.719.719.919.7
Administrative staff, lending

and state insurance
5.75.75.86.06.2
Other sectors (housing, public utilities,

other services)
8.38.38.38.58.6
Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX).

Goskomstat estimates, which do not necessarily match the wage fund data in Table 6.

Source: Federal State Statistics Service.

Based on the old industrial classification system (OKOHX).

Goskomstat estimates, which do not necessarily match the wage fund data in Table 6.

Table 5b.Russian Federation: Employment by Sector, 2004–2005 1/
20042005
(In thousands)
Total66,40766,939
Agriculture, hunting, and forestry7,4207,102
Fishing123120
Industry14,73014,593
Extraction1,0931,071
Manufacturing11,72911,600
electricity, gas and water1,9081,922
Construction4,6944,899
Trade and other miscellaneous services10,84711,199
Hotels and restaurants1,1961,241
Transport and communications5,3315,337
Finance834888
Real estate4,8524,887
Public administration and defense; social securuty3,4413,530
Education6,1356,193
Health and social services4,4924,519
Other public utilities, social and personal services2,3112,404
(In percent of total)
Total100.0100.0
Agriculture, hunting, and forestry11.210.6
Fishing0.20.2
Industry22.221.8
Extraction1.61.6
Manufacturing17.717.3
electricity, gas and water2.92.9
Construction7.17.3
Trade and other miscellaneous services16.316.7
Hotels and restaurants1.81.9
Transport and communications8.08.0
Finance1.31.3
Real estate7.37.3
Public administration and defense; social securuty5.25.3
Education9.29.3
Health and social services6.86.8
Other public utilities, social and personal services3.53.6
Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED)

Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED)

Table 6a.Russian Federation: Industrial Employment by Sector, 2000-2004 1/
20002001200220032004
(In thousands)
Total industrial employment13,29413,28212,88612,38411,977
Electric power generation913942928893868
Fuel730806774740699
Ferrous metallurguy711727695664666
Nonferrous metallurgy560582570553525
Chemicals and petrochemicals877877866829811
Machinery4,7454,6854,5104,3174,262
Forestry, timber processing, paper and pulp1,1021,0541,010968939
Construction materials684677667642624
Light industry849814765694596
Food processing1,4841,4921,4951,4881,415
Others639626606596572
(In percent of 1994 level)
Total industrial employment76.276.273.971.068.7
Electric power generation128.6132.7130.7125.8122.3
Fuel84.993.790.086.081.3
Ferrous metallurguy96.398.594.290.090.2
Nonferrous metallurgy108.3112.6110.3107.0101.5
Chemicals and petrochemicals93.493.492.288.386.4
Machinery68.067.164.661.861.1
Forestry, timber processing, paper and pulp71.868.765.863.161.2
Construction materials65.865.164.161.760.0
Light industry53.150.947.843.437.3
Food processing98.398.899.098.593.7
(In percent of total)
Total industrial employment100.0100.0100.0100.0100.0
Electric power generation6.97.17.27.37.2
Fuel5.56.16.06.75.8
Ferrous metallurguy5.35.55.45.75.6
Nonferrous metallurgy4.24.44.45.04.4
Chemicals and petrochemicals5.96.06.16.36.8
Machinery35.434.934.734.535.6
Forestry, timber processing, paper and pulp8.37.97.87.27.8
Construction materials5.15.15.24.75.2
Light industry6.46.15.95.35.0
Food processing11.211.211.611.911.8
Source: Federal State Statistics Service; and Fund staff estimates.

Based on the old industrial classification system (OKOHX).

Source: Federal State Statistics Service; and Fund staff estimates.

Based on the old industrial classification system (OKOHX).

Table 6b.Russian Federation: Industrial Employment by Sector, 2004-2005 1/2/
20042005
(In thousands)
Total Industry11,09810,762
Mining and extraction of natural materials1,0681,044
Mining and quarrying of energy producing materials723701
Mining and quarrying, except of energy producing materials345343
Manufacturing8,1977,870
Food products, including beverages and tobacco1,1791,140
Textiles and textiles products383337
Leather, leather products and footwear5549
Wood and wood products225216
Pulp, paper and paper producs; publishing and printi286278
Coke and refined petroleum products157157
Chemicals and chemical products527504
Rubber and plastic products176173
Other non-metallic mineral products533515
Basic metals and fabricated metal products1,1191,086
Machines and equipment867837
Electrical and optical equipment871817
Transport equipment1,2181,175
Other manufacturing164160
Electricity, gas and water production and supply1,8331,849
(In percent of 2004 level)
Total Industry97
Mining and extraction of natural materials98
Mining and quarrying of energy producing materials97
Mining and quarrying, except of energy producing materials99
Manufacturing96
Food products, including beverages and tobacco97
Textiles and textiles products88
Leather, leather products and footwear88
Wood and wood products96
Pulp, paper and paper producs; publishing and printi97
Coke and refined petroleum products100
Chemicals and chemical products96
Rubber and plastic products98
Other non-metallic mineral products97
Basic metals and fabricated metal products97
Machines and equipment97
Electrical and optical equipment94
Transport equipment97
Other manufacturing98
Electricity, gas and water production and supply101
(In percent of total)
Total Industry100.0100.0
Mining and extraction of natural materials9.69.7
Mining and quarrying of energy producing materials6.56.5
Mining and quarrying, except of energy producing materials3.13.2
Manufacturing73.973.1
Food products, including beverages and tobacco10.610.6
Textiles and textiles products3.43.1
Leather, leather products and footwear0.50.5
Wood and wood products2.02.0
Pulp, paper and paper producs; publishing and printi2.62.6
Coke and refined petroleum products1.41.5
Chemicals and chemical products4.74.7
Rubber and plastic products1.61.6
Other non-metallic mineral products4.84.8
Basic metals and fabricated metal products10.110.1
Machines and equipment7.87.8
Electrical and optical equipment7.87.6
Transport equipment11.010.9
Other manufacturing1.51.5
Electricity, gas and water production and supply16.517.2
Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED).

Employment does not include small business.

Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED).

Employment does not include small business.

Table 7.Russian Federation: Indicators of Hidden Unemployment, 2000-2005
Shortened Workday 1/Forced Leave 2/
Thousands

of persons
In percent

of workforce
Thousands

of persons
2000
Q11,0692.61,204
Q21,2533.01,562
Q31,3673.31,798
Q41,4993.62,175
2001
Q17921.91,137
Q29282.21,492
Q39862.41,658
Q41,0782.61,936
2002
Q16331.51,080
Q28122.01,389
Q39422.31,549
Q41,2133.01,891
2003
Q15561.4805
Q26521.61,029
Q37131.81,162
Q47832.01,315
2004
Q13340.9510
Q24361.1698
Q34751.2821
Q45341.41,062
2005
Q12670.7451
Q24211.1639
Q34041.1740
Q44621.2846
Source: Federal State Statistics Service.

The data are year-to-date.

Without pay or with partial pay. Cumulative data from the beginning of each year.

Source: Federal State Statistics Service.

The data are year-to-date.

Without pay or with partial pay. Cumulative data from the beginning of each year.

Table 8.Russian Federation: Selected Labor Market Indicators, 2000-2005
Employment 1/Unemployment 1/RegisteredUnemployment 1/
ILO DefinitionTotalReceiving

Benefits
(In millions)
200064.67.61.10.9
200165.26.41.10.9
200266.75.81.31.1
200366.36.21.61.3
200467.46.01.71.3
200568.35.61.81.5
(In percent of labor force)
200089.510.51.51.3
200191.09.01.51.3
200292.08.01.91.5
200391.48.62.21.8
200491.88.22.31.8
200592.47.62.52.1
Sources: Federal State Statistics Service; and Ministry of Labour and Social Development.

Annual averages, based on results of population employment survey.

Sources: Federal State Statistics Service; and Ministry of Labour and Social Development.

Annual averages, based on results of population employment survey.

Table 9.Russian Federation: Unemployment Rate by Regions (ILO methodology), 2000-2005(In percent of labor force)
200020012002200320042005
Central
Belgorod Oblast5.86.58.28.25.96.0
Bryansk Oblast13.110.08.57.38.86.7
Vladimir Oblast12.29.910.310.19.19.0
Voronezh Oblast10.09.68.98.18.67.5
Ivanovo Oblast10.15.66.86.54.66.8
Kaluzhska Oblast8.26.06.66.26.35.7
Kostromska Oblast8.66.05.06.35.94.8
Kursk Oblast10.410.47.38.67.47.1
Lipetsk Oblast8.56.64.94.44.28.0
Moscow Oblast7.45.54.34.33.73.3
Orlov Oblast8.57.96.77.85.96.1
Ryazan Oblast9.511.28.18.35.85.3
Smolensk Oblast12.29.911.110.99.17.8
Tambov Oblast8.212.49.79.19.68.5
Tver Oblast9.47.84.86.65.35.9
Tula Oblast9.75.26.15.34.65.0
Yaroslavl Oblast7.37.13.85.74.74.0
Moscow3.82.11.41.31.60.8
North West
Karelian Republic11.58.77.98.57.38.8
Komi Republic12.114.09.111.912.411.5
Arkhangel'sk Oblast12.28.88.19.97.25.4
Nenets Autonomous Okrug10.97.27.28.67.511.4
Vologodsk Oblast8.08.96.04.86.35.2
Kaliningrad Oblast15.49.67.17.56.56.6
Leningrad Oblast9.76.97.08.76.87.4
Murmansk Oblast12.812.810.210.011.08.8
Novgorod Oblast7.86.46.35.06.15.8
Pskov Oblast12.510.38.28.15.66.6
Saint Petersburg6.33.93.44.12.72.2
South
Adygeya Republic14.114.113.515.817.612.9
Dagestan Republic25.628.823.920.127.222.3
Ingush Republic32.034.944.053.146.364.9
Chechen Republic23.4
Kabardino-Balkar Republic16.616.818.722.025.718.0
Kalmykiya Republic20.119.118.117.921.713.6
Karachaev-Circassian Republic20.718.612.019.016.98.8
North Ossetian-Alaniya Republic28.516.712.510.111.774.2
Krasnodarsk Krai12.510.77.610.18.87.5
Stavropol Krai13.89.89.610.39.67.0
Astrakhan Oblast11.510.511.110.111.012.0
Volgograd Oblast9.79.88.410.99.46.8
Rostov Oblast14.912.911.312.38.68.6
Volga
Bashkortostan Republic11.510.78.38.27.17.1
Marii-El Republic11.39.413.812.29.19.9
Mordoviya Republic10.710.59.47.46.07.0
Tatarstan Republic8.06.35.36.77.36.7
Udmurt Republic9.37.57.96.78.07.8
Chuvash Republic9.19.69.58.69.911.4
Kirov Oblast8.27.76.97.48.77.1
Nizhegorod Oblast7.58.37.86.17.46.0
Orenburg Oblast11.88.510.311.310.79.4
Penza Oblast11.213.97.49.16.96.5
Perm Oblast10.46.99.16.97.07.5
Komi-Permyatsk Autonomous Okrug8.012.212.510.99.60.0
Samara Oblast10.36.05.44.45.35.3
Saratov Oblast9.510.07.510.59.99.1
Ulyanov Oblast6.49.06.17.49.57.7
Urals
Kurgan Oblast13.213.310.79.612.511.3
Sverdlovsk Oblast10.07.78.47.67.36.7
Tyumen Oblast10.310.48.78.38.76.7
Khanti-Mansi Autonomous Okrug11.211.010.29.49.77.8
Yamalo-Nenetsk Autonomous Okrug7.97.16.95.56.57.1
Chelyabinsk Oblast8.18.76.45.95.25.4
Siberian
Altai Republic17.59.711.510.29.610.0
Buryat Republic19.118.515.416.815.312.0
Tyva Republic22.923.920.520.719.721.8
Khakasian Republic12.38.88.010.510.38.9
Altai Krai11.59.98.312.19.09.0
Krasnoyarsk Krai11.99.77.711.29.29.0
Taimyrsk Autonomous Okrug5.77.37.66.99.114.0
Evenkisk Autonomous Okrug3.22.92.55.03.24.4
Irkutsk Oblast11.410.911.011.710.59.9
Ust-Ordinsk Buryat Autonomous Okrug8.914.212.210.99.812.3
Kemerovo Oblast10.412.49.39.79.88.6
Novosibirsk Oblast13.410.011.411.09.07.8
Omsk Oblast13.910.09.59.59.18.6
Tomsk Oblast12.29.811.113.710.110.5
Chitinsk Oblast13.917.011.115.312.411.1
Aginsk Buryat A. Okrug25.623.025.312.912.64.4
Far East
Sakha republic (Yakutiya)11.38.27.19.48.88.9
Primorye Krai11.98.68.97.99.68.0
Khabarovsk Krai11.610.36.76.16.65.7
Amur Oblast13.412.211.010.111.210.3
Kamchatka Oblast16.014.511.611.411.09.6
Koryak Autonomous Okrug12.515.28.813.611.17.8
Magadan Oblast10.811.78.210.27.97.0
Sakhalin Oblast13.012.09.59.17.47.6
Jewish Autonomous Oblast15.29.59.16.58.37.9
Chukotsk A. Oblast10.07.44.64.83.54.4
Source: Federal State Statistics Service.
Source: Federal State Statistics Service.
Table 10.Russian Federation: Regional Migration, 2000-2005 1/(In thousands)
200020012002200320042005
Central73.972.681.3119.0110.6126.0
Belgorod Oblast6.96.57.110.17.810.1
Bryansk Oblast−0.3−0.6−0.6−0.5−1.3−0.7
Vladimir Oblast0.51.00.50.5−0.71.8
Voronezh Oblast1.41.53.42.43.2
Ivanovo Oblast0.70.1−0.20.0−0.9−0.2
Kaluzhska Oblast−1.3−0.7−1.6−0.60.52.7
Kostromska Oblast1.00.10.30.0−0.2−0.5
Kursk Oblast−2.3−2.9−3.1−3.6−3.0−2.0
Lipetsk Oblast1.81.60.20.9−0.21.2
Moscow Oblast22.730.340.660.856.951.9
Orlov Oblast0.10.7−0.1−0.10.1−0.2
Ryazan Oblast−1.4−1.3−1.2−0.4−0.51.3
Smolensk Oblast−2.0−1.9−1.3−0.2−1.20.0
Tambov Oblast−2.1−3.3−3.2−2.3−2.4−2.1
Tver Oblast−2.0−1.9−0.9−0.70.80.6
Tula Oblast−2.0−2.4−1.6−1.2−1.10.7
Yaroslavl Oblast1.00.81.82.01.73.4
Moscow51.346.443.050.751.754.9
North West−1.66.64.04.58.711.9
Karelian Republic0.60.60.80.00.00.1
Komi Republic−6.7−5.0−6.3−6.3−5.7−7.3
Arkhangel'sk Oblast−6.4−5.1−5.0−5.4−4.9−5.0
Nenets Autonomous Okrug−0.20.20.10.0−0.1
Vologodsk Oblast0.6−0.2−0.10.30.30.3
Kaliningrad Oblast0.71.92.33.12.93.4
Leningrad Oblast10.011.011.913.912.011.5
Murmansk Oblast−9.9−7.6−8.0−6.7−4.9−5.2
Novgorod Oblast0.20.50.10.00.1
Pskov Oblast−0.20.41.10.1−0.6
Saint Petersburg9.311.27.54.48.914.5
South−12.6−2.4−4.5−7.9−8.14.4
Adygeya Republic−0.10.61.20.61.20.5
Dagestan Republic−5.7−5.4−5.3−5.2−6.2−6.1
Ingush Republic−11.7−0.70.81.60.90.4
Chechen Republic−8.8−4.1−1.4
Kabardino-Balkar Republic−1.9−1.9−2.0−2.3−2.7−2.9
Kalmykiya Republic−2.2−2.1−1.3−1.7−1.5−1.6
Karachaev-Circassian Republic−2.0−2.2−2.3−2.0−2.2−3.1
North Ossetian-Alaniya Republic−2.4−1.9−2.4−2.0−2.3−1.3
Krasnodarsk Krai12.613.78.412.215.623.8
Stavropol Krai2.10.72.44.81.11.6
Astrakhan Oblast0.7−0.5−0.5−0.4−0.6−0.7
Volgograd Oblast−2.7−2.6−2.9−3.5−2.9−3.0
Rostov Oblast0.5−0.2−0.7−1.2−4.3−1.9
Volga−2.3−13.5−14.1−10.0−15.6−0.1
Bashkortostan Republic−2.0−3.5−2.40.9−2.3−1.7
Marii-El Republic0.0−0.6−0.5−0.6−0.8−0.5
Mordoviya Republic−2.3−2.9−2.8−2.5−2.5−2.4
Tatarstan Republic3.03.23.26.64.96.1
Udmurt Republic−0.8−1.6−1.7−1.4−2.2−1.8
Chuvash Republic0.5−0.3−0.30.0−0.2−0.5
Kirov Oblast−2.1−2.9−3.1−4.2−4.6−4.0
Nizhegorod Oblast2.81.61.51.52.53.8
Orenburg Oblast−4.4−4.4−5.2−4.8−4.3−1.9
Penza Oblast−1.3−1.5−1.6−0.6−1.0−0.8
Perm Oblast0.7−0.2−0.5−3.5−4.2−2.3
Komi-Permyatsk Autonomous Okrug−0.3−0.20.00.20.00.0
Samara Oblast5.43.53.72.22.47.1
Saratov Oblast0.6−0.5−0.7−0.50.22.4
Ulyanov Oblast−2.3−3.4−3.6−3.3−3.4−3.6
Urals1.63.5−2.4−3.8−3.44.4
Kurgan Oblast−3.9−5.6−4.5−5.2−5.4−5.4
Sverdlovsk Oblast1.0−0.7−1.70.35.58.7
Tyumen Oblast4.410.67.14.5−0.20.6
Khanti-Mansi Autonomous Okrug9.411.47.06.10.6−1.2
Yamalo-Nenetsk Autonomous Okrug−2.6−0.40.20.4−0.1−0.1
Chelyabinsk Oblast0.1−0.9−3.2−3.3−3.30.4
Siberian−22.4−26.1−27.7−41.6−30.3−17.5
Altai Republic0.2−0.30.00.00.20.3
Buryat Republic−4.2−5.0−4.4−3.5−3.7−4.3
Tyva Republic−1.0−1.2−0.8−0.7−0.8−0.8
Khakasian Republic1.20.60.50.60.50.5
Altai Krai−2.9−5.5−3.7−7.3−6.6−6.4
Krasnoyarsk Krai−4.9−2.2−4.1−6.6−5.5−5.0
Taimyrsk Autonomous Okrug−0.10.3−0.1−0.5−0.3−0.6
Evenkisk Autonomous Okrug−0.4−0.1−0.1−0.2−0.1−0.2
Irkutsk Oblast−1.6−3.8−4.4−5.2−5.2−5.4
Ust-Ordinsk Buryat Autonomous Okrug−0.4−0.1−0.2−0.4−0.4−0.1
Kemerovo Oblast−0.10.1−0.10.32.55.8
Novosibirsk Oblast0.81.2−0.9−3.20.41.8
Omsk Oblast−3.4−3.7−3.4−9.6−5.9−2.2
Tomsk Oblast−0.1−0.10.2−1.3−1.61.5
Chitinsk Oblast−6.6−6.2−6.5−5.0−4.5−3.3
Aginsk Buryat A. Okrug−0.3−0.1−0.10.10.40.4
Far East−36.6−31.2−27.4−24.9−22.6−21.6
Sakha republic (Yakutiya)−7.2−7.0−5.8−4.6−4.4−5.1
Primorye Krai−6.1−7.3−5.6−5.7−5.2−4.6
Khabarovsk Krai−1.9−1.5−1.00.5−0.3−0.3
Amur Oblast−3.9−3.4−3.3−2.9−2.7−2.2
Kamchatka Oblast−4.4−3.1−2.9−2.8−2.3−2.4
Koryak Autonomous Okrug−0.7−0.3−0.3−0.4−0.4−0.5
Magadan Oblast−5.2−3.9−3.3−3.4−3.4−2.7
Sakhalin Oblast−4.5−3.6−3.7−4.0−3.2−3.0
Jewish Autonomous Oblast−0.20.10.0−0.1−0.1−1.0
Chukotsk A. Oblast−3.1−1.5−1.7−1.8−0.9−0.4
Source: Federal State Statistics Service.

A positive entry indicates a net inflow.

Source: Federal State Statistics Service.

A positive entry indicates a net inflow.

Table 11.Russian Federation: Consumer Price Inflation and CPI Weights, 2000-2005
OverallPaid
CPIFood 1/Nonfood 2/Services 3/
(Percent change, end of period)
200020.217.118.533.7
200118.617.812.736.9
200215.111.310.936.2
200312.010.29.222.3
200411.713.07.417.7
200510.99.96.421.0
(In percent of total CPI)
200010058.727.913.4
200110055.330.614.1
200210053.230.516.3
200310051.630.917.5
200410046.833.319.9
200510045.833.121.1
Source: Federal State Statistics Service.

Includes food and beverages; excludes tobacco.

Includes clothing and footwear, household goods, medicine, recreation, education, culture, and personal care and effects.

Includes rent, water, fuel and power.

Source: Federal State Statistics Service.

Includes food and beverages; excludes tobacco.

Includes clothing and footwear, household goods, medicine, recreation, education, culture, and personal care and effects.

Includes rent, water, fuel and power.

Table 12.Russian Federation: Industrial Producer Prices, 2000-2005 1/
OverallExtractionManufacturingUtilities
PPI Index
(Percent change, end of period)
200031.949.124.841.6
20018.34.06.327.4
200217.725.813.226.0
200312.51.815.814.5
200428.864.721.512.5
200513.431.08.112.6
Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED).

Source: Federal State Statistics Service.

Based on the new industrial classification system (OKVED).

Table 13.Russian Federation: Wages, Pensions, and Per Capita Income, 2000-2005
200020012002200320042005
(In rubles per month, annual average unless otherwise indicated)
Nominal wage2,2233,2404,3605,4996,7408,550
Minimum wage108250400488600747
Pensions6941,0241,3791,6371,9152,364
Income per capita2,2903,0623,9475,1706,4107,938
(Annual percent change)
Real wage20.919.916.210.910.610.0
Real minimum wage31.659.439.08.810.212.2
Real pensions28.021.016.34.55.59.6
Real income per capita13.410.010.814.611.29.3
Sources: Federal State Statistics Service; Ministry of Labor; Pension Fund; and Fund staff estimates.
Sources: Federal State Statistics Service; Ministry of Labor; Pension Fund; and Fund staff estimates.
Table 14.Russian Federation: Summary Operations of the Enlarged Government, 2000-2005(In billions of rubles, unless otherwise indicated)
200020012002200320042005
Federal government balance622411462307291,612
Federal government primary balance3794823734549341,819
Revenues1,1271,5911,8672,2242,9864,856
Expenditures1,0661,3511,7211,9952,2573,245
of which: interest317242227224205208
Local government balance59−22−54−533057
Revenues1,1271,3421,6431,9312,4032,999
of which: transfers123242293378402511
Expenditures1,0681,3641,6971,9842,3732,942
Extrabudgetary funds balance10622−19177482
Revenues6047139561,1341,3731,802
of which: transfers43659199120503
Expenditures4986919751,1171,2981,720
Enlarged government balance (-deficit)226241731938341,751
Enlarged government primary balance5434833004301,0651,990
Revenues2,6923,3404,0814,8136,2408,644
Expenditures2,4663,0994,0094,6195,4066,893
Financing of the enlarged government−228−237−64−154−834−1,751
Foreign−113−206−169−266−185−701
Domestic−185−35105112−649−1,050
Monetary authorities−24214322−68−653−191
Commercial banks431010959−2068
Other14−188−2512123−927
Arrears and rescheduling7040000
(In percent of GDP)
Federal govt overall balance0.82.71.31.74.37.5
Federal govt primary balance5.25.43.43.45.58.4
Revenues15.417.817.216.817.622.5
Expenditures14.615.115.915.113.315.0
Local govt overall balance0.8−0.2−0.5−0.40.20.3
Revenues15.415.015.214.614.213.9
of which: transfers1.72.72.72.92.42.4
Expenditures14.615.215.715.014.013.6
Extrabudgetary funds balance1.40.2−0.20.10.40.4
Revenues8.38.08.88.68.18.3
of which: transfers0.60.70.80.70.72.3
Expenditures6.87.79.08.47.78.0
Enlarged government overall balance3.12.70.71.54.98.1
Enlarged government primary balance7.45.42.83.26.39.2
Revenues36.837.337.736.336.840.0
Expenditures33.734.637.034.931.931.9
Sources: Ministry of Finance; Central Bank of Russia (CBR); and Fund Staff estimates.
Sources: Ministry of Finance; Central Bank of Russia (CBR); and Fund Staff estimates.
Table 15.Russian Federation: Federal Government Budget Execution, 2000-2005(In billions of rubles, unless otherwise indicated)
200020012002200320042005
Revenue1,1271,5911,8672,2242,9864,856
Tax Revenue9661,4621,7022,0362,7374,514
Profit and personal income taxes210215173173206372
VAT3726397538821,0701,472
Excises131206213252117107
Taxes on trade2293013234538601,623
Import tariffs6471129158204271
Export taxes1642301952956561,352
Other (incl. natural resource taxes)24100239276485940
Non-tax revenue70115150174235256
Budgetary funds921515141487
Expenditure1,0661,3511,7211,9952,2573,245
Non-interest expenditure7491,1091,4941,7702,0523,037
General public issues220259296324359467
National defense139208257330397544
National security and law enforcement77125166220287421
National economy49108150132155233
Housing and community amenities000006
Environmental protection34910114
Education28467189111152
Culture and mass media81218242644
Health121928354583
Social policies4994423123140167
Intergovernmental transfers74193−18383420916
Other8940961001020
Interest payments317242227224205208
External debt246184190176165154
Domestic debt715737484054
Primary balance3794823734549341,819
Overall balance622411462307291,612
(In percent of GDP)
Revenue15.417.817.216.817.622.5
Expenditure14.615.115.915.113.315.0
Interest4.32.72.11.71.21.0
Noninterest10.212.413.813.412.114.1
Primary balance5.25.43.43.45.58.4
Overall balance0.82.71.31.74.37.5
GDP (billions of rubles)7,3068,94410,83113,24316,96621,598
Sources: Ministry of Finance; and Fund staff estimates.
Sources: Ministry of Finance; and Fund staff estimates.
Table 16.Russian Federation: Regional and Local Government Operations, 2000-2005(In billions of rubles, unless otherwise indicated)
200020012002200320042005
Revenue1,1271,3421,6431,9312,4032,999
Profit tax221300292356653956
Personal income tax149247358456565707
VAT8520000
Excises35373286110147
Other tax revenue249287424416395283
Nontax revenue6186125135160218
Budgetary funds203140119105119177
Transfers123242293378402511
Expenditure1,0681,3641,6971,9842,3732,942
Government administration486993117142176
Law enforcement273651566682
Sectoral expenditures106230278413410509
Education176231332376472585
Health136166229258321398
Housing199233256255292362
Social security60104141180250310
Budgetary funds203131154149169210
Interest payments191314202632
Other94149149160224278
Overall balance (- deficit)59−22−54−533057
Financing−59225453−30−57
Foreign−28−4−4−4−3−5
Domestic−34195562−27−40
Monetary authorities−185−8−9−40−40
Commercial banks−2303328−21−21
Other71529433421
Arrears and rescheduling274−50−12
(In percent of GDP)
Revenue15.415.015.214.614.213.9
Profit tax3.03.42.72.73.84.4
Personal income tax2.02.83.33.43.33.3
VAT1.20.00.00.00.00.0
Excises0.50.40.30.60.60.7
Other tax revenue3.43.23.93.12.31.3
Nontax revenue0.81.01.21.00.91.0
Budgetary funds2.81.61.10.80.70.8
Transfers1.72.72.72.92.42.4
Expenditure14.615.215.715.014.013.6
Government administration0.70.80.90.90.80.8
Law enforcement0.40.40.50.40.40.4
Sectoral expenditures1.42.62.63.12.42.4
Education2.42.63.12.82.82.7
Health1.91.92.11.91.91.8
Housing2.72.62.41.91.71.7
Social security0.81.21.31.41.51.4
Budgetary funds2.81.51.41.11.01.0
Interest payments0.30.10.10.20.20.1
Other1.31.71.41.21.31.3
Overall balance (- deficit)0.8−0.2−0.5−0.40.20.3
Financing−0.80.20.50.4−0.2−0.3
Foreign−0.40.00.00.00.00.0
Domestic−0.50.20.50.5−0.2−0.2
Monetary authorities−0.20.1−0.1−0.1−0.2−0.2
Commercial banks−0.30.00.30.2−0.1−0.1
Other0.10.20.30.30.20.1
Arrears and rescheduling0.00.10.00.00.0−0.1
Sources: Ministry of Finance; CBR; and Fund staff estimates.
Sources: Ministry of Finance; CBR; and Fund staff estimates.
Table 17.Russian Federation: Extrabudgetary Fund Operations, 2000-2005(In billions of rubles, unless otherwise indicated)
200020012002200320042005
Revenue6047139561,1341,3731,802
Pension Fund4245317068271,0221,356
Employment Fund2000000
Social Insurance Fund8789116143159202
Medical Insurance Fund7393133164192244
Expenditure4986919751,1171,2981,720
Pension Fund3415157218279681,299
Employment Fund1600000
Social Insurance Fund7093126136141179
Medical Insurance Fund7191130152190242
Float1−9−2200
Balance, total extrabudgetary funds10622−19177482
Financing−106−2219−17−74−82
of which: monetary authorities−107−1297−25−7−7
of which: pension arrears1−10−787−68−75
(In percent of GDP)
Revenue8.38.08.88.68.18.3
Pension Fund5.85.96.56.26.06.3
Employment Fund0.30.00.00.00.00.0
Social Insurance Fund1.21.01.11.10.90.9
Medical Insurance Fund1.01.01.21.21.11.1
Expenditure6.87.79.08.47.78.0
Pension Fund 1/4.75.86.76.25.76.0
Employment Fund0.20.00.00.00.00.0
Social Insurance Fund1.01.01.21.00.80.8
Medical Insurance Fund1.01.01.21.11.11.1
Float0.0−0.10.00.00.00.0
Balance, total extrabudgetary funds1.40.2−0.20.10.40.4
Financing−1.4−0.20.2−0.1−0.4−0.4
of which: monetary authorities−1.5−0.10.9−0.20.00.0
of which: pension arrears0.0−0.1−0.70.1−0.4−0.3
Sources: Federal State Statistics Service (on extrabudgetary funds); CBR; and Fund staff estimates.
Sources: Federal State Statistics Service (on extrabudgetary funds); CBR; and Fund staff estimates.
Table 18.Russian Federation: Monetary Authorities' Accounts, 2000-06

(In billions of rubles, unless otherwise indicated) 1/

2000200120022003200420052006
Dec.Dec.Dec.Dec.Dec.Mar.JuneSept.Dec.Mar.June
Base money5207179351,3991,7461,6641,8441,9512,2992,1722,511
Currency issued4476248141,2251,6701,5791,7551,8562,1952,0612,387
Required reserves on ruble deposits739412117476848895103111125
Net international reserves (NIR)4588171,3132,1173,3583,8714,4134,6355,2455,8576,974
(In billions of US$) 2/16274177125140159167182203242
Net domestic assets (NDA)62−100−378−718−1,612−2,208−2,569−2,684−2,946−3,685−4,463
Net credit to enlarged government1195634−181−840−1,649−2,128−2,009−2,221−2,950−3,463
Net credit to federal government268212102−79−692−1,377−1,823−1,507−2,000−2,567−3,039
CBR net ruble credit to the federal government 3/17314976−21−617−1,188−1,324−1,281−1,643−2,233−2,643
VEB credit189208257261251251251205929289
(In billions of US$)77899997333
Ruble counterpart 4/−94−145−231−319−326−441−749−432−449−425−485
CBR net credit to local government−27−22−30−39−79−272−305−502−221−383−425
CBR net credit to extrabudgetary funds−122−134−38−62−69−95−120−294−106−132−147
Net ruble credit to banks−128−127−196−406−585−534−390−533−552−468−706
Gross credit to banks23212217442005193
Gross liabilities to banks and deposits−151−148−218−422−589−538−410−533−557−487−709
OIN70−28−216−132−186−24−52−142−174−268−293
o/w required reserves on foreign currency deposits−51−63−80−94−45−49−49−55−58−61−65
Memorandum items:
Exchange rate (official, end-period)28.230.131.829.527.727.727.727.728.828.828.8
Gross reserves (US$ bln)27.934.547.876.9124.5139.5159.0167.0182.2203.5242.3
Reserve liabilities (US$ bln)11.79.56.55.13.50.00.00.00.00.00.0
Sources: Central Bank of Russia.

There are differences relative to IFS in: the definitions of “federal government,” “local government,” and “extrabudgetary funds”; the treatment of VEB credits extended for debt service; and the coverage of international reserves.

Data calculated at accounting exchange rates.

Beginning December 1999 includes government securities held by the CBR's pension fund.

Represents the government's use of NIR resources and calculated in flow ruble terms using the exchange rate in effect at the time of the transaction.

Sources: Central Bank of Russia.

There are differences relative to IFS in: the definitions of “federal government,” “local government,” and “extrabudgetary funds”; the treatment of VEB credits extended for debt service; and the coverage of international reserves.

Data calculated at accounting exchange rates.

Beginning December 1999 includes government securities held by the CBR's pension fund.

Represents the government's use of NIR resources and calculated in flow ruble terms using the exchange rate in effect at the time of the transaction.

Table 19.Russian Federation: Monetary Survey, 2000-06 1/(In billions of rubles unless otherwise indicated)
2000200120022003200420052006
Dec.Dec.Dec.Dec.Dec.Mar.JuneSept.Dec.Mar.June
Net foreign assets 2/6861,0411,5122,0433,1803,7624,4104,4614,9005,6016,420
NIR of monetary authorities4588171,3132,1173,3583,8714,4134,6355,2455,8576,974
NFA of commercial banks228224199−74−177−109−3−174−345−257−554
NDA8791,0811,3301,9182,1181,7351,5731,9692,3241,8401,970
Domestic credit1,3691,8702,4933,2653,9743,1942,9623,7134,1073,8364,013
Net credit to general government413379466294−386−1,216−1,886−1,605−1,743−2,471−3,044
Net credit to federal government 3/592576544379−231−885−1,493−995−1,489−2,015−2,475
Net credit from the monetary authorities268212102−79−692−1,377−1,823−1,507−2,000−2,567−3,039
(o/w ruble counterpart)−94−145−231−319−326−441−749−432−449−425−485
Net credit from commercial banks324364442458461492330512511551564
Ruble credit106116166251297326344366369396393
Forex credit219247277207164166−14146142155170
Net credit to local government and EBFs−179−197−78−85−155−331−393−610−254−455−569
Net credit from monetary authorities−148−156−68−101−148−272−305−502−221−383−425
Net credit from commercial banks−31−41−1017−6−59−88−108−34−72−144
Credit to the economy9561,4912,0272,9714,3604,4104,8475,3185,8516,3077,057
Loans in foreign currency 2/2804106088411,1561,0781,1631,2041,4401,4841,697
(In billions of US$)1014192942394243505259
Ruble loans6751,0811,4202,1303,2033,3323,6854,1134,4114,8235,360
Other items (net)−490−788−1,164−1,347−1,856−1,459−1,389−1,743−1,784−1,997−2,043
Broad money1,5642,1232,8413,9625,2985,4975,9836,4307,2247,4408,390
Ruble broad money1,1441,6032,1203,2134,3634,4754,9275,2936,0466,1697,092
Currency in circulation4195847631,1471,5351,4821,6511,7412,0091,9292,233
Ruble deposits 4/7251,0181,3562,0662,8292,9933,2773,5524,0364,2414,859
Forex deposits 2/4205207227499351,0221,0551,1371,1781,2711,298
(In billions of US$)1517232534373838414445
Sources: Central Bank of Russia.

There are differences relative to IFS in: the definitions of “federal government,” “local government,” and “extrabudgetary funds”; the treatmen of VEB credits extended for debt service; and the coverage of international reserves.

Data calculated at accounting exchange rates.

Inclusive of valuation gains and losses on holdings of government securities.

Includes demand deposits at the CBR.

Sources: Central Bank of Russia.

There are differences relative to IFS in: the definitions of “federal government,” “local government,” and “extrabudgetary funds”; the treatmen of VEB credits extended for debt service; and the coverage of international reserves.

Data calculated at accounting exchange rates.

Inclusive of valuation gains and losses on holdings of government securities.

Includes demand deposits at the CBR.

Table 20.Russian Federation: Key Monetary Indicators, 2000-06
2000200120022003200420052006
Dec.Dec.Dec.Dec.Dec.Mar.JuneSep.Dec.Mar.June
Velocity
Ruble broad money velocity 1/7.16.15.74.64.33.94.14.44.23.73.4
% change compared to year earlier−13.0−14.4−6.9−19.6−5.4−4.4−4.3−10.1−3.5−5.7−15.6
Ruble broad money velocity (seasonally ad6.76.15.74.64.34.44.44.24.34.13.7
% change compared to year earlier−14.6−8.5−6.9−19.6−5.40.7−0.3−7.6−1.7−5.7−15.6
Broad money including forex deposits 1/5.24.64.23.73.65.04.84.44.65.25.5
% change compared to year earlier−10.2−11.7−9.5−12.5−3.949.637.911.128.44.115.5
Ruble money multiplier2.22.22.32.32.52.72.72.72.62.82.8
Currency-to-deposit ratio0.60.60.60.60.50.50.50.50.50.50.5
Reserves -to-deposits ratio0.10.10.10.10.00.00.00.00.00.00.0
Currency held by banks to deposits ratio0.00.00.00.00.00.00.00.00.00.00.0
Currency ratios
Forex deposits-to-total deposits ratio0.370.340.350.270.250.250.240.240.230.230.21
Forex credit-to-total credit ratio0.290.280.300.280.270.240.240.230.250.240.24
Contributions to monetary growth
1. Monetary authorities 2/
Base money growth60.238.130.449.624.9−4.75.611.731.7−5.59.2
NDA−95.5−31.1−38.8−36.4−63.9−34.1−54.9−61.4−76.5−32.1−66.0
Net credit to enlarged government−72.1−12.2−1.1−23.0−47.2−46.3−73.7−66.9−79.1−31.7−54.1
NIR155.869.169.286.088.729.460.473.1108.126.675.2
2. Banking system 3/
Broad money55.535.733.939.433.73.712.921.436.33.016.1
NDA−2.312.911.720.75.0−7.2−10.3−2.83.9−6.7−4.9
Net credit to enlarged government−19.1−2.24.1−6.0−17.1−15.7−28.3−23.0−25.6−10.1−18.0
NFA57.822.822.218.728.711.023.224.232.59.721.0
Credit aggregates--stocks 4/
Total credit to the economy13.116.718.722.426.020.422.424.627.123.726.5
Ruble-denominated credit to the economy9.212.113.116.019.115.417.119.020.418.120.2
Credit to government from commercial ban4.03.64.03.62.72.01.11.92.21.81.6
Credit aggregates--flows 4/
Total credit to the economy5.16.05.07.18.30.22.34.46.91.74.5
Ruble-denominated credit to the economy4.44.53.15.36.40.62.24.25.61.53.6
Credit to government from commercial ban0.70.31.00.3−0.1−0.1−1.0−0.20.10.0−0.2
Prices
Inflation from end of previous year20.218.615.112.011.713.613.712.410.910.79.0
Source: Central Bank of Russia and Fund staff estimates.

Based on annualized end-period quarterly GDP.

Change as a of begining year stock of base money. Changes in NIR include valuation effects arising from exchange rate movements. exchange deposits). Changes in NFA include valuation changes arising from exchange rate movements.

Change as a of begining year stock of base money.(exchange deposits). Changes in NFA include valuation changes arising from exchange rate movements.

Relative to annual GDP.

Source: Central Bank of Russia and Fund staff estimates.

Based on annualized end-period quarterly GDP.

Change as a of begining year stock of base money. Changes in NIR include valuation effects arising from exchange rate movements. exchange deposits). Changes in NFA include valuation changes arising from exchange rate movements.

Change as a of begining year stock of base money.(exchange deposits). Changes in NFA include valuation changes arising from exchange rate movements.

Relative to annual GDP.

Table 21.Russian Federation: CBR Instruments, 1999-2005(In billions of rubles)
Required reserve balancesCorrespondent accountsDeposit facilityGross credit to banks
MoscowRegional
TotalRubleForeignTotalbanksbanksTotalTotal 1/RehabOther
1999Dec6536296632344271413
2000Dec1247351130745621231112
2001Dec15794631459055421912
2002Dec20112180170113574722121
2003Jan2131288510162395820119
Feb2111268511069418918017
Mar2191328713891476118017
Apr2281389014599463017017
May23214587180132489517017
Jun23915287165110558017017
Jul2441608414495495720020
Aug2491638613084462517017
Sep2551658915510451554054
Oct264169941429745634034
Nov2651709515110447617017
Dec26717494305225808717017
2004Jan278186922572065119516016
Feb281192892161615520516016
Mar288198901961415511933033
Apr27619184177121565157057
May2851959014387553455055
Jun25117774187122654048048
Jul1339241183117653656056
Aug1157243190128623262062
Sep11672442191477341707
Oct11773442281527689404
Nov119734627119972185404
Dec122764668458210275404
2005Jan126804527919683171404
Feb130834729221280221404
Mar133844931122883153404
Apr1348450226147799617017
May1358749240162797921021
Jun1378849264170944420020
Jul1429151224132923131031
Aug1459352282186963815015
Sep150955536226210062000
Oct1559856233157765094094
Nov16010158317222954398098
Dec1611045849033515615505

Gross credit to banks excludes foreign currency denominated credit.

Gross credit to banks excludes foreign currency denominated credit.

Table 21 (continued).Russian Federation: CBR Instruments, 1999-2005(In percent of monthly base money)
Required reserve balancesCorrespondent accountsDeposit facilityGross credit to banks
MoscowRegional
TotalRubleForeignTotalbanksbanksTotalTotal 1/RehabOther
1999Dec19.911.08.920.39.910.41.38.34.34.0
2000Dec23.914.19.925.014.310.74.04.52.12.3
2001Dec21.913.18.820.212.57.70.52.91.31.6
2002Dec21.513.08.518.212.06.15.12.30.12.2
2003Jan24.214.59.611.57.14.46.62.30.12.2
Feb23.414.09.412.27.64.69.92.00.01.9
Mar23.514.29.414.89.85.06.61.90.01.8
Apr22.513.78.914.49.84.53.01.70.01.7
May22.113.88.317.212.64.69.11.60.01.6
Jun21.213.57.814.79.84.97.21.50.01.5
Jul21.213.87.312.58.24.35.01.70.01.7
Aug21.113.87.311.07.13.92.11.40.01.4
Sep21.614.07.613.18.84.30.44.60.04.6
Oct21.914.17.811.88.13.70.52.80.02.8
Nov21.513.87.712.28.53.80.51.40.01.4
Dec19.112.46.721.816.15.76.21.20.01.2
2004Jan20.113.56.618.614.93.714.11.10.01.1
Feb19.713.46.315.211.33.914.41.10.01.1
Mar20.113.86.313.79.83.88.32.30.02.3
Apr18.412.85.611.88.13.73.43.80.03.8
May19.113.16.09.55.83.72.33.70.03.7
Jun16.411.64.912.28.04.22.63.10.03.1
Jul8.96.22.712.37.94.42.43.80.03.8
Aug8.05.03.013.18.94.32.24.30.04.3
Sep8.05.03.115.210.15.02.90.50.00.5
Oct8.05.03.015.610.45.26.10.30.00.3
Nov8.04.93.118.213.44.812.40.20.00.2
Dec7.04.42.639.233.35.84.30.20.00.2
2005Jan7.85.02.817.412.25.110.60.20.00.2
Feb7.95.12.917.913.04.913.50.20.00.2
Mar8.05.12.918.713.75.09.20.20.00.2
Apr7.74.82.812.98.44.55.51.00.01.0
May7.64.92.713.59.14.44.41.20.01.2
Jun7.44.82.714.39.25.12.41.10.01.1
Jul7.54.82.711.86.94.81.61.60.01.6
Aug7.64.92.714.89.85.12.00.80.00.8
Sep7.74.92.818.613.45.13.20.00.00.0
Oct7.85.02.811.87.93.82.54.70.04.7
Nov8.05.12.915.911.24.82.24.90.04.9
Dec7.04.52.521.314.66.80.60.20.00.2
Source: CBR.

Gross credit to banks includes foreign currency denominated credit, which is not included in gross claims on banks in Table 18.

Source: CBR.

Gross credit to banks includes foreign currency denominated credit, which is not included in gross claims on banks in Table 18.

Table 22.Russian Federation: Domestic Debt, 2000-2005 1/ (In billions of rubles)
200020012002200320042005
Short-term treasury bills (GKO)32019300
Medium and long-term government bonds (OFZ's)506470624649757851
OFZ-PD (fixed coupon)3593083515043124
OFZ-FK (fixed coupon)123139207199171131
OFZ-PK (variable coupon)2424242400
OFZ-AD0042375542596
Nonmarket bonds (OGNZ)1921121200
Savings bonds (OGSZ)300000
Short-term bank loans000000
Other 2/262325182224
Total557533680682778875
Source: Ministry of Finance.

Ruble denominated debt. Includes instruments held by nonresidents. Excludes obligations of the ministry of finance to the CBR as well as eurobonds held by residents.

Includes targeted bond issues, various government guarantees, and enterprise/sector debts assumed by the government.

Source: Ministry of Finance.

Ruble denominated debt. Includes instruments held by nonresidents. Excludes obligations of the ministry of finance to the CBR as well as eurobonds held by residents.

Includes targeted bond issues, various government guarantees, and enterprise/sector debts assumed by the government.

Table 23.Russian Federation: Balance of Payments Projections, 1999-2005(In billions of U.S. dollars, unless otherwise indicated)
1999200020012002200320042005
Est.
Current Account24.646.833.929.135.458.683.6
Trade Balance36.060.248.146.359.985.8118.3
Exports75.6105.0101.9107.3135.9183.2243.6
Non-energy44.652.249.751.162.283.094.7
Energy30.952.852.256.273.7100.2148.9
Oil19.636.234.440.353.778.3117.2
Gas11.416.617.815.920.021.931.7
Imports−39.5−44.9−53.8−61.0−76.1−97.4−125.3
Services−4.3−6.7−9.1−9.9−10.9−13.4−14.8
Income−7.7−6.7−4.2−6.6−13.2−13.1−18.7
Public sector interest (net)−6.8−6.5−3.7−2.9−2.7−2.20.5
Other−0.9−0.3−0.5−3.7−10.5−11.0−19.2
Current transfers0.60.1−0.8−0.8−0.4−0.7−1.1
Capital and financial account−19.3−22.9−10.9−9.02.1−5.6−7.5
Capital transfers−0.311.0−9.4−12.4−1.0−1.6−12.8
Federal Government−6.6−17.23.95.3−4.9−2.4−9.8
Portfolio investment−0.7−10.3−1.80.2−1.62.8−1.6
Loans0.00.4−5.7−12.5−1.8−3.4−18.3
Of which:
Disbursements2.71.10.60.70.80.70.5
Amortization−7.3−6.5−6.6−11.9−4.9−4.9−19.8
Other investment−5.9−7.311.417.6−1.5−1.810.2
Local Governments−0.3−0.8−0.2−0.10.00.2−0.3
Private sector capital−12.1−15.9−5.3−1.87.9−1.815.3
Direct investment1.1−0.50.2−0.1−1.81.71.8
Portfolio investment−0.10.41.63.2−1.5−0.9−3.3
Commercial banks−4.9−2.80.21.910.94.67.9
Corporations−0.4−0.90.88.315.116.240.9
Other private capital−7.8−12.1−8.1−15.1−14.7−23.4−32.0
Errors and omissions, net−6.3−6.8−10.0−6.5−9.7−6.3−11.8
Overall balance0.00.00.00.00.00.00.0
Financing0.00.00.00.00.00.00.0
Net international reserves1.0−17.1−13.0−13.6−27.8−46.7−64.3
Gross reserves (- increase)−5.4−18.9−12.0−12.9−28.3−46.9−64.9
Net Fund liabilities−3.6−2.9−3.8−1.5−1.9−1.7−3.4
Purchases0.60.00.00.00.00.00.0
Repurchases4.22.93.81.51.91.73.4
Valuation adjustment−3.6−2.9−3.8−1.5−1.9−1.7−3.4
Arrears and rescheduling6.41.8−1.0−0.80.50.20.6
Memorandum items:
Current account (in percent of GDP)12.618.011.18.48.29.910.9
Gross reserves 1/12.528.036.647.876.9124.5182.2
(in months of imports of GNFS)2.85.55.96.88.911.413.3
(as a percent of short-term debt) 2/2811498135128198172
(as a percent of public debt service)26126177283594371539
Russian oil price ($/barrel)14.724.523.023.527.234.450.6
World oil price ($barrel) (WEO)18.028.224.325.028.937.853.4
Terms of trade (percent)6.732.6−0.9−3.812.415.616.8
Public external debt service payments 3/24.048.522.220.716.913.033.5
(percent of exports of goods and services)28.342.419.617.111.16.412.5
Source: Central Bank of Russia; and Fund staff estimates.

Excluding repos with non-residents to avoid double counting of reserves.

Excludes arrears.

Net of rescheduling.

Source: Central Bank of Russia; and Fund staff estimates.

Excluding repos with non-residents to avoid double counting of reserves.

Excludes arrears.

Net of rescheduling.

Table 24.Russian Federation: Destination of Exports, 1999-2005 1/
1999200020012002200320042005
(In millions of US dollars)
Total exports72,885103,09399,970106,712133,656181,600241,219
CIS10,70713,82414,61715,71120,66729,47132,594
Belarus3,7675,5725,3485,9227,60211,21910,094
Kazakhstan1,2222,2462,7782,4033,2814,6646,526
Ukraine4,7925,0245,2825,8857,59810,77012,403
Other9269821,2091,5012,1872,8183,572
Non-CIS62,17889,26985,35391,001112,988152,129208,625
Europe40,49059,66056,09259,66272,54298,419145,992
Czech Republic1,3231,7451,6691,5111,9412,2803,817
Finland2,4143,1053,1132,9354,3195,8287,651
France1,2111,9032,2502,6593,4914,4246,111
Germany6,2059,2319,1948,06010,42013,30219,736
Hungary1,5472,4052,3792,1672,8213,2545,004
Ireland658288117260943679707
Italy3,7557,2547,4017,4418,51412,08619,052
Netherlands3,6734,3494,6957,5298,67415,27224,608
Poland2,6064,4524,2003,7204,6195,7008,623
Slovak Republic1,4262,1212,2052,0322,2972,4233,190
Switzerland3,3513,8572,3095,3605,8147,70710,476
UK2,8864,6704,2173,8034,9195,6408,277
Other9,43514,28012,34212,18513,77019,82528,741
Asia10,97216,94817,03519,07827,09337,64344,402
China3,5275,2485,5966,8378,25810,10513,048
Japan2,1252,7662,4271,8032,4213,4043,743
Other5,3208,9349,01210,43816,41424,13427,610
Western Hemisphere7,7059,1588,2077,4548,04310,28411,478
US4,7094,6444,1983,9894,2166,6246,318
Other2,9964,5144,0093,4663,8263,6605,160
Middle East and Africa2,7703,4593,9664,7175,2165,7026,531
Other2424453909481222
Exports to:(In percent of total exports)
CIS14.713.414.614.715.516.213.5
Belarus5.25.45.35.55.76.24.2
Kazakhstan1.72.22.82.32.52.62.7
Ukraine6.64.95.35.55.75.95.1
Other1.31.01.21.41.61.61.5
Non-CIS85.386.685.485.384.583.886.5
Europe55.657.956.155.954.354.260.5
Czech Republic1.81.71.71.41.51.31.6
Finland3.33.03.12.83.23.23.2
France1.71.82.32.52.62.42.5
Germany8.59.09.27.67.87.38.2
Hungary2.12.32.42.02.11.82.1
Ireland0.90.30.10.20.70.40.3
Italy5.27.07.47.06.46.77.9
Netherlands5.04.24.77.16.58.410.2
Poland3.64.34.23.53.53.13.6
Slovak Republic2.02.12.21.91.71.31.3
Switzerland4.63.72.35.04.34.24.3
UK4.04.54.23.63.73.13.4
Other12.913.912.311.410.310.911.9
Asia15.016.417.017.920.320.718.4
China4.85.15.66.46.25.65.4
Japan2.92.72.41.71.81.91.6
Other7.38.69.09.812.313.311.4
Western Hemisphere10.68.98.27.06.05.74.8
US6.54.54.23.73.23.62.6
Other4.14.44.03.22.92.02.1
Middle East and Africa3.83.34.04.43.93.12.7
Other0.30.10.10.10.10.00.1
Source: State Customs Committee.

Figures differ somewhat from those compiled by the Central Bank of Russia and shown in Table 23.

Source: State Customs Committee.

Figures differ somewhat from those compiled by the Central Bank of Russia and shown in Table 23.

Table 25.Russian Federation: Composition of Merchandise Exports, 1999-2005
1999200020012002200320042005
(In millions of U.S. dollars)
Total exports (f.o.b.) (including Belarus)72,885103,09399,970106,712133,656181,600241,219
Total exports (f.o.b.) 1/ (excluding Belarus)69,11997,52594,532100,789126,054170,381231,126
Food, beverage, and agricultural products7641,2991,4602,1772,6902,4793,903
Mineral products5797125505837251,0871,643
Fuel products30,60152,14251,74656,00672,86499,344148,666
Oil and oil products18,82834,36132,77538,58550,74874,197112,339
Crude13,46923,64423,62527,44536,83355,08879,947
Oil products5,35910,7179,15111,14013,91619,10932,392
Gas10,85016,11817,24315,35919,31220,91630,346
Other9241,6631,7282,0632,8044,2315,981
Chemicals (incld. pharmaceuticals and rubber)5,6776,8016,8996,7818,39310,89813,581
Leather187237175187233253283
Wood and paper products3,5944,2764,2374,6925,3566,7378,107
Textiles and clothing694655600654671697651
Gems and precious metals4,3434,8814,0974,7575,1966,3516,801
Metals14,14716,68213,92914,34717,44128,52532,763
Machines, equipment and instruments7,2578,3949,6719,17910,77712,20712,335
Other, including ceramics and glass1,2751,4421,2601,4271,7091,8062,393
Total exports (f.o.b.) 1/ (excluding Belarus)(In percent of total exports)
Food, beverage, and agricultural products1.11.31.52.22.11.51.7
Stone and ore0.80.70.60.60.60.60.7
Fuel products44.353.454.755.657.858.364.3
Oil and oil products27.235.334.638.340.343.548.6
Crude19.524.325.027.229.232.334.6
Oil products7.811.09.711.111.011.214.0
Gas15.716.518.215.215.312.313.1
Other0.70.50.62.02.22.52.6
Chemicals (incld. pharmaceuticals and rubber)8.27.07.36.76.76.45.9
Leather0.30.20.20.20.20.10.1
Wood and paper products5.24.44.54.74.24.03.5
Textiles and clothing1.00.70.60.60.50.40.3
Gems and precious metals6.35.04.34.74.13.72.9
Metals20.517.114.714.213.816.714.2
Machines, equipment and instruments10.58.610.29.18.57.25.3
Other, including ceramics and glass1.81.51.31.41.41.11.0
Source: State Customs Committee; and Fund staff estimates.

Excludes shuttle trade and other adjustments to the customs data that are included in Table 23.

Source: State Customs Committee; and Fund staff estimates.

Excludes shuttle trade and other adjustments to the customs data that are included in Table 23.

Table 26.Russian Federation: Origin of Imports, 1999-2005 1/
1999200020012002200320042005
(In millions of U.S. dollars)
Total imports30,27833,87941,88346,17457,34775,56998,577
CIS8,34311,60411,20210,16313,13917,71318,935
Belarus3,2223,7103,9603,9774,8806,4855,714
Kazakhstan1,3912,1972,0181,9462,4743,4293,209
Ukraine2,5283,6473,8453,2304,4386,1007,777
Other1,2022,0501,3791,0101,3481,6992,235
Non-CIS21,93522,27530,68136,01144,20757,85679,641
Europe13,77913,70818,77722,77927,81835,74145,963
Czech Republic343367467564712835988
Finland9479581,2851,5191,8542,3363,089
France1,2331,1871,5381,8962,3473,0723,670
Germany4,2023,8985,8086,5988,11210,55613,260
Hungary3134044475136007401,099
Ireland190106154199235239290
Italy1,1571,2121,7152,2282,4073,1994,413
Netherlands6887408461,0601,2581,3751,935
Poland6027169621,3001,7152,3102,745
Slovak Republic106105132159301405502
Switzerland309271391417530648875
UK6768611,0031,1201,4432,0672,776
Other3,0132,8834,0295,2056,3067,95810,322
Asia3,1142,7544,3456,8109,50014,50922,482
China8949491,6462,4013,3094,7467,259
Japan4555728719801,8833,9415,832
Other1,7651,2331,8283,4284,3095,8229,391
Western Hemisphere4,1763,7545,0015,4975,7896,1529,190
US2,3872,6943,2532,9802,9623,2004,562
Other1,7891,0601,7482,5172,8272,9524,628
Middle East and Africa6205846277609091,1081,549
Other246147181164190346458
(In percent of total imports)
Total imports:
CIS27.634.326.722.022.923.419.2
Belarus10.611.19.58.68.58.65.8
Kazakhstan4.66.54.84.24.34.53.3
Ukraine8.310.89.27.07.78.17.9
Other4.06.13.32.22.42.22.3
Non-CIS72.465.773.378.077.176.680.8
Europe45.541.645.749.348.547.346.6
Czech Republic1.11.11.11.21.21.11.0
Finland3.12.83.13.33.23.13.1
France4.13.53.74.14.14.13.7
Germany13.911.513.914.314.114.013.5
Hungary1.01.21.11.11.01.01.1
Ireland0.60.30.40.40.40.30.3
Italy3.83.64.14.84.24.24.5
Netherlands2.32.22.02.32.21.82.0
Poland2.02.12.32.83.03.12.8
Slovak Republic0.40.30.30.30.50.50.5
Switzerland1.00.80.90.90.90.90.9
UK2.22.52.42.42.52.72.8
Other10.09.710.511.311.010.510.5
Asia10.39.912.614.716.619.222.8
China3.02.83.95.25.86.37.4
Japan1.51.72.12.13.35.25.9
Other5.85.46.57.47.57.79.5
Western Hemisphere13.812.113.111.910.18.19.3
US7.98.07.86.55.24.24.6
Other5.94.15.35.54.93.94.7
Middle East and Africa2.01.71.51.61.61.51.6
Other0.80.40.40.40.30.50.5
Source: State Customs Committee.

Figures differ somewhat from those compiled by the Central Bank of Russia and shown in Table 23.

Source: State Customs Committee.

Figures differ somewhat from those compiled by the Central Bank of Russia and shown in Table 23.

Table 27.Russian Federation: Composition of Merchandise Imports, 1999-2005 1/
1999200020012002200320042005
(In millions of U.S. dollars)
Total imports (c.i.f) (including Belarus)30,27833,87941,88346,17457,34775,56998,577
Total imports (c.i.f) 1/ (excluding Belarus)27,05630,16937,92342,19752,46769,08492,863
Food, beverage, tobacco and agricultural products7,6746,9778,7369,83211,31212,82016,282
Stone and ore4266716606687981,3401,344
Fuel products7231,3839781,0011,2861,4031,600
Chemicals (incld. pharmaceuticals and rubber)4,4465,6217,1487,3269,13911,41615,793
Leather5889190172186202244
Wood and paper products9561,1371,5221,7612,2192,6353,074
Textiles and clothing1,1501,4511,7461,9042,1782,5623,059
Gems and precious metals3756284069174245
Metals1,9552,4922,7602,5973,6235,1476,802
Machines, equipment and instruments8,7739,22712,68715,21319,62428,71541,262
Other, including ceramics and glass8571,0671,4671,6832,0342,6713,159
Total imports (c.i.f) 1/ (excluding Belarus)(In percent of total imports)
Food, beverage, tobacco and agricultural products28.423.123.023.321.618.617.5
Stone and ore1.62.21.71.61.51.91.4
Fuel products2.74.62.62.42.52.01.7
Chemicals (incld. pharmaceuticals and rubber)16.418.618.817.417.416.517.0
Leather0.20.30.50.40.40.30.3
Wood and paper products3.53.84.04.24.23.83.3
Textiles and clothing4.34.84.64.54.23.73.3
Gems and precious metals0.10.20.10.10.10.30.3
Metals7.28.37.36.26.97.57.3
Machines, equipment and instruments32.430.633.536.137.441.644.4
Other, including ceramics and glass3.23.53.94.03.93.93.4
Source: State Customs Committee.

Excludes shuttle trade and other adjustments to the customs data that are included in Table 23.

Source: State Customs Committee.

Excludes shuttle trade and other adjustments to the customs data that are included in Table 23.

Table 28.Russian Federation: Foreign Currency Disbursements to the Federal Government, 1999-2005(In millions of U.S. dollars)
Creditors1999200020012002200320042005
Multilateral1,209574433245347332390
IMF 1/641000000
World Bank545540379229231147253
EBRD22345416115184137
Other000000
Bilateral and suppliers/other commercial1,490563211443456332143
Tied1,058363111392456332143
Untied43220010051000
Bonds0000000
Resident purchases0000000
Nonresident purchases0000000
Total2,6991,136643688803664533
(Excluding IMF)2,0581,136643688803664533
Memorandum items:
Minfin bonds0000000
OGNZ0000000
Source: Russian authorities.

Full amount of Fund purchases in 1998. Part of this amount was disbursed directly to the CBR.

Source: Russian authorities.

Full amount of Fund purchases in 1998. Part of this amount was disbursed directly to the CBR.

Table 29.Russian Federation: Nonsovereign/Sector Financial Account, 1999-2005 1/(In millions of U.S. dollars)
1999200020012002200320042005
Direct investment1,102−463216−72−1,7691,66213,519
Abroad−2,208−3,177−2,533−3,533−9,727−13,782−15,386
In Russia3,3092,7142,7483,4617,95815,44428,905
Portfolio investment−25301,1342,793−2,892−2,263−9,882
Assets254−41177−796−2,180−3,820−10,666
Equity5−40−6085−47−25−733
Debt securities249−371137−880−2,133−3,794−9,933
Liabilities−5074111,0573,589−7121,557785
Equity−2871505422,626422233−215
Banks−1021458865−87103
Nonfinancial enterprises−2771485292,038357321−318
Debt securities−220261515962−1,1331,3241,000
Local governments−175−427−447−63129246−275
Issue00000629
Redemption−118−258−326−93−77−204−185
Secondary market−190−273−15911189399−167
Interest reinvestment1331043820164548
Monetary authorities00−360000
Banks−97527780239−480629137
Nonfinancial enterprises52160217786−7824491,137
Financial derivatives00013640−100−233
Assets000801,017758858
Liabilities000−67−377−857−1,091
Other investments−13,826−15,415−4,871−5,03512,886−41821,756
Assets−11,122−14,846−9,182−14,693−15,247−25,222−43,513
Cash foreign currency and deposits−2,939−4,679−1,0591,1877,519682−2,713
Trade credit (net)−3,322−4,245475−1,697−4,012−656−7,711
Loans279−440−1,041−1,562−2,302385−5,972
Banks409−395−593−1,493−684−1,269−5,143
Nonfinancial enterprises−129−45−368−3−1,6181,495−829
Monetary authorities00−80−6601600
Arrears−47188−118−10−4011542
Banks−40188−118−10−4011511
Nonfinancial enterprises−60000031
Changes in the stock of nonrepatriated export proceeds and nonrepatriated trasactions in securities−5,051−5,293−6,388−12,244−15,435−25,903−27,195
Other−42−377−1,051−367−97815536
Liabilities−2,704−5694,3119,65828,13324,80465,269
Cash foreign currency and deposits1148821,5305123,8552062,949
Loans−2,875−1,5993,4449,34324,04724,70362,001
Local governments7−267280−4−112−13−25
Banks−1,517−3974112,3007,5136,99114,901
Nonfinancial enterprises−448−9357698,33415,12816,18040,900
Monetary authorities (excluding IMF credits)−91701,984−1,2881,5171,5456,225
Arrears258−480−366−111−2