Economy
Industry in Ivanovo Region is subdivided into several main sectors, including the light, chemical and petrochemical, food, forest, peat, engineering and metalworking, power, and building material industries. The primary and most developed sector is light industry, made up of the clothing, knitting, textile, and shoe industries. Companies in this sector employ half of the region's industrial workers. The textile industry, which began developing in the last quarter of the 17th century, is of fundamental importance. Textile companies in the region produce half of Russia's textiles. Engineering occupies an important place in the region's industry. Engineering companies manufacture mobile cranes, looms and machine tools, excavators, combing machinery, instrumentation, and car components. The woodworking and pulp and paper industries also make a significant contribution to the regional economy. Forests of the region serve as a source of raw materials for these industries. The food industry produces a variety of goods that are in demand in many Russian regions, as well as abroad, e.g., sausage, mayonnaise, flour, cereals, canned meats and milk, confectionery, pasta, and alcohol.
Read more about this topic: Ivanovo Oblast
Famous quotes containing the word economy:
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—Henry David Thoreau (1817–1862)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)