Economy
As of 2008, Omsk Oblast is the 23rd largest economy in Russia, with a gross regional product of 10.2 billion dollars.
The economy of Omsk Oblast is heavily industrial, with well developed, and growing, service and financial sectors. Agriculture represents a smaller, but still significant, portion of the economy.
Economic activity is concentrated in Omsk, with over sixty-six thousand private enterprises registered, ranging from small-scale retailers to billion-dollar manufacturing.
Omsk was ranked by Forbes as the 6th-best city in Russia for business in 2008, an improvement over its 20th-place ranking the previous year.
The oblast and city governments have made efforts to improve the business climate and foster small enterprise through various incentives and government programs designed to ease the bureaucratic red-tape, a notorious feature of Russian business life, and to generate cooperation within the business community.
The bulk of industrial output, as of 2009, is concentrated in food and tobacco processing ($900 million), hydrocarbon processing ($6.7 billion), chemical manufacturing ($500 m), plastics manufacturing ($200 m) and the manufacture of electrical components ($280 m). The remainder of the economy is dominated by the retail sector and agriculture.
The largest industrial enterprises include the aerospace manufacturer Polyot, the Omsk Aggregate Plant, the agricultural manufacturer Sibzavod, Omsk Baranov Motorworks, and Omsktransmash, which manufactures the T-80 main battle tank. Additionally, Omsk Rubber, the Technical Hydrocarbon Plant, Omsk-Polymer and Omsk Hydrocarbon Processing Plant, represent the petroleum and hydrocarbon industry. Omsk Hydrocarbon is one of the most important oil refineries in Russia.
The oblast operates four thermal power plants, which makes it largely self-sufficient from the standpoint of energy generation.
Agricultural production is concentrated in the Isil'rul'skii District and produces wheat, barley, flax, sunflower, potato, various fruits and vegetables as well as meat, poultry and dairy products.
The food processing sector includes several breweries, a distillery and numerous food packaging enterprises.
Read more about this topic: Omsk Oblast
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“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)