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The economy of the Udmurt Republic is notable for the diversity of its industries. Oil-extracting, ferrous metallurgy, machine-building, metal-working and wood-processing industries play the leading role. These industries comprise the largest potential to establish mutually beneficial cooperation.
Taking into consideration the industrial output through 9 months of 2002, the volume of production is expected to reach 69 billion rubles by the end of 2002, which is 101% of the total production of 2001. In January-August, 2002 the production grew in 9 branches of industry: flour-and-cereals industry by 37.4%, light industry by 11.3%, medical industry by 9.8%, wood-working industry by 8.6%, chemical industry by 6.1%, glass-making industry by 5.7%, machine-building and metal-working by 5.6%, food-stuffs industry by 4.1%
The industry of the republic is a unique complex producing a wide range of weapons and military equipment. As for the civil products, enterprises of Udmurtia are among the leaders in the manufacturing of certain consumer goods (hunting and sporting guns, motorcycles, radio and medical equipment). The structure of the economy is presented in the chart.
Social and economic development of Udmurtia is determined by:
advanced industrial potential, highly qualified personnel of enterprises and research institutions;
favorable location of the Republic in the center of the Urals region;
rich reserves of natural resources;
natural and climatic conditions acceptable for agricultural development;
favorable demographic situation providing labor force for the economy in full.
The largest enterprises of the republic manufacture the following products:
automobiles and motorcycles (JSC "Izhevsk Machine-building Plant");
sporting and hunting guns ("Izhevsk mechanical factory", JSC "Izhevsk Machine-building Plant");
metal-working machine-tools (FSUE GPO "Votkinsly factory", JSC "Izhevsk Machine-building Plant", JSC "NITI "Progress");
construction, alloyed and stainless steel (JSC "Izhstal");
space and medical equipment (JSC "Aksion", "Izhevsk mechanical factory");
equipment for paper-making industry (JSC "Bummash");
cylindrical reducers and reducers for oil industry (JSC "Reduktor");
equipment for geology, drilling and oil development (JSC "Izhneftemash", JSC "Sarapul machine-building plant", "Izhevsk electromechanical factory "Kupol", "Votkinsky factory", JV JSC "Udol") ;
bearings (JSC "Izhevsk bearings factory");
means of communication (JSC "Izhevsk radio factory", JSC "Sarapul radio factory");
electric engines and electric tools (JSC "Sarapul electric generator factory");
locomotives ("Kambarsky machine-building factory");
zirconium and products of its alloys, metal calcium (JSC "Chepetsky mechanical factory");
capacitors (JSC "Elecond").
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Business and Economy