Russian industrial production grew 2.% year-on-year in January, State Statistics Committee first deputy chairman Alexander Surinov said on 18, Feb 2002. Surinov, speaking at a news conference at Interfax, said "this growth is less than last year, but nonetheless growth is continuing".
Compared to December 2001, however, industrial output slumped 0.4% in January. He also said that statistics committee has revised the GDP growth figure for 2000 to 9.0% from 8.3 %. This revision is not yet the final one, and the data for 200 "could be corrected in future as well as new data comes in".
The GDP growth figure of 5.0% for 2001 has not been revised yet.
Surinov said he was confident that inflation for February would be lower that the January figure. However, he declined to name a specific figure, saying that forecasts were the prerogative of the Economic Development and Trade Ministry (Interfax, 18.02.2002 13:16:02).
Here are some data on execution of several real balance of payment accounts of Russia (in USD, mil):.
1998 1999 2000 2000 2000 2001 2001 2001.
3rd quarter 4th quarter 1st quarter 2nd quarter 3rd quarter.
Account of current operations 687 24731 46291 10543 12910 11530 9450 7577.
Trade balance 12813 31845 52958 13387 14179 12258 10528 9761.
Export 87257 84733 115246 29666 32029 27448 29403 29005.
Import -74443 -52887 -62288 -16279 -17849 -15190 -18875 -19244.
'Operations with the capital' account 8397 -17695 -37050 -7752 -9290 -9330 -7805 -5236.
Net errors and gaps (i.e. illegal capital export) -9084 -7036 -9241 -2790 -3620 -220 -1645 -2341.
(VNIKI, Bulletin of Foreign Commercial Information, 10, 2nd February, 2002).
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Alexander Illarionov, the Advisor for the President on economic issues, declared that Russia is taking the 41st position among 177 countries on GDP growth rate.
According to the Central Bank's data, the capital outflow from Russia decreased on 40 % in 2001.The experts explain it by the increase and the reviving of internal investments that grew on 8.
