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109,1

110,1

Ferrous industry

189,2

129,2

103,5

123,3

128,8

Nonferrous industry

215,8

108,7

89,4

130,1

127,2

Chemical industry

143,8

126,8

119,8

108,3

115,1

Petrochemical industry

166,5

135,8

101,2

108,7

111,3

Machine building industry

149,6

128,0

116,5

110,6

111,2

Wood industry, wood-working industry and paper-pulp industry

167,7

124,6

107,7

108,2

107,9

Building materials industry

137,3

136,6

119,5

117,4

117,0

Light industry

156,0

122,3

110,9

105,3

115,2

Food-processing industry

162,6

118,6

115,0

105,8

114,8

Source: the Russian State Statistics Committee (Goskomstat).

The lack of serious and qualitative changes in the technology and structure of production prevented a complex of consumer good industries from maintaining high growth rate for a long-term period.

The growth index of the consumer complex in 2003 decreased to the minimum over the last five years and accounted for 4,6% as against 5,9% in 2002 and 7,6% in 2001. The structure of consumer goods production was effected mostly by a decline tendency in production in light industry recorded since 2002 ( approximately by 4% annually ). In 1999 – 2003, investment activity in the industry continued to curtail. The light industry is incorporated in the group of processing industry’s branches with critical depreciation coefficients. The coefficient of physical property mortality due to за ветхостью износа exceeds by more than 6 times the asset renewal index. An absolute reduction of capital stock took place in the industry. Crisis in the industry resulted in a sharp decrease in labor demand. Over the last two years the average number of employees in light industry was reduced by more than 10%. The industry became poorly attractive because of the existing level of wages. Wages in the industry accounted for nearly 44% of the industry’s average, and though wages remained unchanged over the last five years, the share of wage costs in the total production costs in light industry grew from 17,5% in 2000 to 21,8% in 2002, and 22,6% in 2003. In 2002, product profitability accounted for 2,1%, while losses were recorded at year-end 2003. Outdated plant and semiskilled personnel determined poor competitive ability of domestic goods in light industry against imported goods and further led to expansion of niches for imported goods under the existing currency exchange rates. According to the estimates, the share of imports in the structure of nonfood products in 2003 increased by 3,4 percentage points as opposed to the previous year.

Among the conditions mitigating an adverse effect of light industry on the resources of the market of nonfood domestic products are acceleration of production of household equipment ( branches of machine building industry ), products of furniture industry ( food industry system ), and home improvement items ( branches of building materials industry, glass industry and porcelain industry ). Increased output of furniture and building materials correspond to intensive growth in residential construction and high business activity in the real estate market. Introduction of new technologies, as well as increase in output of products assembled on the basis of imported parts and elements, had a significant impact on the mode of operations of these industries and strengthened their competitive ability.

In 2003, the output growth index of food-processing industry accounted for 105,1% and for the first time over the last four years was recorded beyond the production output index at the industry as a whole. Capital investments in food-processing industry increased nearly by one third over the period between 2001 and 2003, capital consumption decreased by more than 10 percentage points over the period and accounted for 35,7%. The level of profitability of food-processing industry accounted for 10,6% in 2002 and increased to 11,6% in 2003 by initial estimates. Obviously, there is a positive performance represented in the fact that the industry maintained its position in the internal consumer market. В объеме товарных ресурсов of food products, the share of domestic goods accounted for 65% in the 1st quarter of 2003, 66% in the 2nd quarter and 68% in the 3rd quarter. Therefore, the accumulated development potential in food-processing industry was among the factors partially compensating adverse effects resulted from a decline in production of light industry.

The post-devaluation period of the Russian economy was featured by intensive growth in investment industries system. Modest output of capital goods against the industrial growth rate over the last five years was recorded only in 2002, when accretion in production of investment industries decreased to the minimum and accounted for 2,2% against 6,8% in 2001 and 18,9% in 2000.

Figure 8

Production Growth Rate by System between 1999 and 2003,
as % against previous year

The situation was changed profoundly in 2003. As in the period between 2000 and 2001, the investment sector responded to accelerated growth in production and earnings of the export-oriented sector by intensive increase in production capacities of capital goods. In 2003, however, the determinal factors of the production growth in machine building industry were increased internal gross demand by railway machine building industry, instrument making industry, and household appliances industry, including the state demand, rather than orders by principal export industries. The output volume of machine building industry increased by 9,4% in 2003 as against 2,0% in 2002, while in the building materials industry it grew by 6,4% as against 3,0%. Improved trading conditions of high-tech domestic products in the external markets was an additional growth factor in machine building industry. Export of civil-purpose products increased to 11 bln US dollars in 2003 against 8 bln US dollars in 2002, and defense-purpose products nearly to 4,6 – 4,7 bln US dollars, which exceeded by 10% the figures of the previous year.

Machine building industries differ largely in output of products. Among the negative factors affecting the dynamics of machine building industry in 2003 are permanent crisis of overproduction in the automobile industry and maintained tendency for narrowing of the fuel industry’s investment demand for domestic machinery against the background of growing export earnings and expansion of import of machinery and equipment. In addition, the growth in purchases of machinery and equipment was restricted substantially by inadequate competitive capacity of many machine building enterprises. Import of machinery and equipment increased by 20,3%, and the share of imported equipment in the structure of investments in machinery and equipment was nearly 1/4, as compared to the period between January – November 2002. Maintaining a fairly high growth rate in machinery and equipment in 2003 was mainly due to an expanded demand for the products of railway machine building industry, instrument-making industry, and communication industry. A sustained growing demand for the equipment of consumers’ sector industries has been maintained over the last four years.

Table 7

Industrial Dynamics by Machine Building Industry
in 1998 – 2003, as % against previous year

	1998	1999	2000	2001	2002	2003
Total industry	94,8	108,1	109,0	104,9	103,7	107,1
Machine building industry	92,5	115,9	115,5	107,2	102,0	109,4
of which
railway machine building industry	87	108,9	107,4	126,0	121,7	135,8
metallurgic machine building industry	70,6	91,8	130,2	86,1	82,6	94,0
Electrical engineering industry	85,7	127,0	130,1	112,6	93,8	105,5
Chemical and oil machine building industry	96,1	120,7	119,5	121,6	96	93,0
Machine-building and tool-making industry	82,3	99,6	111,5	99,4	81,7	100,5
Instrument-making industry	103,4	140,8	118,4	98,0	90,9	144,8
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