The Russian Union of Industrialists and Entrepreneurs sounds skeptical of the machinery exports growth, reminding that the largest part of supplies goes to neighboring countries.
Photo: Mikhail Razuvaev
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Machinery Exports Beat Expectations
Russian machinery exports grew 20 percent, to $14 billion in 2006, the Russian Industry and Energy Ministry said Sunday. The surprisingly favorable data is attributed to positive changes in the machinery industry on the whole and, in particular, to its consolidation in recent years. However, a largest portion of the exports goes to neighboring CIS countries while machinery imports are still relatively high.
The Industry and Energy Ministry released early estimates on the industry’s performance on Friday, reporting a 20 percent rise in Russian machinery and equipment exports in 2006, up to $14 billion. The growth is officially explained by growing industry production. The ministry does not cite statistics for domestic consumption of machinery, which Kommersant has estimated to be growing slower than machinery import and export.
The Industry and Energy Ministry also says Russia started exporting more as a result of the consolidation of the industry’s assets and creation of major holdings capable of large-scale investments. Power Machines has emerged in the energy industry, Transmashholding has gained a foothold in the heavy machinery, GAZ Group seems to have gained control over the motor industry while Tractor Plants reigns in the tractor construction.
The Russian Union of Industrialists and Entrepreneurs sounds skeptical of this upbeat sentiment about the machinery export growth, reminding that the largest part of supplies goes to the CIS. “We should not flatter ourselves with an assumption that we have already entered the world market,” the organization told Kommersant. Russia’s major business organization also points out that machinery imports in Russia are still high – over $60 billion in 2006, according to the Economic Development and Trade Ministry.
Analysts have some doubts about the Industry Ministry’s new data as no one was predicting such a steep rise in machinery exports last year.
www.kommersant.com
All the Article in Russian as of Feb. 05, 2007
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