Institute of Economics of Karelian Research Centre of RAS (Petrozavodsk, Russia):

Nemkovich E. G., Leading Researcher, Candidate of Engineering Sciences, e-mail: enemkovich@mail.ru

Kurilo А. E., Senior Researcher, Candidate of Economic Sciences

In this article is given a description of geological and economic situation in Karelia. There is cited a data about population and other indicators which describe social and economic situation in republic. There is reflected a structure of total internal product by types of economic activities that attendee on territory.

The main industrial goods, which are made in the republic, are: business wood, carving wood, cellulose, paper production, iron ore pellets, facing stone, and rubble. Production of mechanical engineering is presented by cars for timber cuttings, pulp-and-paper production, and nuclear power and sea vessels.

Republic of Karelia is the region, which is focused on a foreign market. About 50 % of the industrial output are made by the Karelian enterprises and are delivered for export. More than 70 % of a foreign trade turnover of the republic is the share of EU countries. About 40 % of the Karelian pellets` volume are exported to foreign countries.

The economic policy of the republican government is defined «By strategy of social and economic development of the Karelian Republic till 2020». According to this document, the priority directions in the economic sphere of the republic are:

- increasing of efficiency and competitiveness of the Karelian economy;

- diversification and modernization of production;

- infrastructure development;

- activation of innovative activity;

- further increasing of level of investment appeal of the region;

- ensuring efficiency of the state budgetary investments and rational use of natural resources.

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2. Respublika Kareliya : informatsionno-spravochnoe posobie (Republic of Karelia : Information and Reference Manual). Under the general editorship of E. G. Nemkovich, A. S. Karmazin. Petrozavodsk : Karelia, 1999, 197 p.

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7. Respublika Kareliya. Kareliya ofitsialnaya. Ofitsialnyy portal organov gosudarstvennoy vlasti Respubliki Kareliya (Republic of Karelia. Official web portal of Karelian Republic State Government Bodies). Available at : http://www.gov.karelia.ru/gov/Different/karelia3.html

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