Production: Mining: Total for Russia
RUSPRMITO01IXOBSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.33
Year-over-Year Change
9.98%
Date Range
1/1/1999 - 12/1/2021
Summary
The 'Production: Mining: Total for Russia' trend measures the overall output of the mining sector in Russia. This metric is closely watched by economists and policymakers to assess the health of the Russian industrial economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the total volume of mining production in Russia, including extraction of fossil fuels, metals, and other minerals. It provides a high-level indicator of the Russian mining industry's performance and serves as an important input for analyzing the broader Russian economic landscape.
Methodology
The data is collected through surveys of mining companies and government statistical agencies in Russia.
Historical Context
Policymakers and analysts use this metric to inform macroeconomic forecasts and evaluate the impact of factors like commodity prices, regulation, and investment on the Russian industrial base.
Key Facts
- Mining accounts for over 10% of Russia's GDP.
- Russia is a leading global producer of oil, natural gas, and metals.
- Mining output declined during the 2020 COVID-19 recession but has since rebounded.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total volume of mining production in Russia, including extraction of fossil fuels, metals, and other minerals.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a high-level indicator of the performance of the Russian mining industry, which is a critical component of the broader Russian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of mining companies and government statistical agencies in Russia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to inform macroeconomic forecasts and evaluate the impact of factors like commodity prices, regulation, and investment on the Russian industrial base.
Q: Are there update delays or limitations?
A: There may be some delays in the release of this data due to the complexities of data collection across the Russian mining sector.
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Citation
U.S. Federal Reserve, Production: Mining: Total for Russia (RUSPRMITO01IXOBSAM), retrieved from FRED.