06 Dec 2018, Vicky Bufton, EMIS Content Manager
Russia Mining Sector 2018-19
Russia’s mining and quarrying sector is a key industry in the country’s economy with the value of production equal to 15% of the nominal GDP in 2017. In Russian statistics, the sector includes extraction of oil and gas, the country’s biggest cash earners. Thus, energy-related materials like oil, gas and coal dominate the mining industry with their output equivalent to 77% of the total mining and quarrying production value in 2017. The mining industry is a significant contributor to the overall exports and an important source of hard currency for Russia. In 2017, exports of minerals accounted for close to 60% of the total exports of the country. The sector employs some 1.1mn people, or 1.5% of the total workforce. Globally, Russia is the second largest miner of rough diamonds, the third largest gold producer and the third largest coal exporter.
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Original source: EMIS Insight Report Russia Mining Sector 2018/2019