Primorsky Krai Essay

The Primorsky Krai is a strategically important subject of the Russian Federation, which is directly adjoining Northeast Asian countries, and might become new social and economic development center in the Pacific Rim in the foreseeable future. The regional GRP rate has a constant growth and takes one of the leading positions in the Far Eastern Federal District of Russia. The dynamics of the GRP point to the positive development for the last 5 years, with the slowdown of the economy in 2012 due to the cumulative effect of the economic crisis, which is common for major part of the Russian regions in 2012 – 2013 years. The economy of the region is diversified and consists of 15 sectors, with transportation, construction, and trade sectors as min contributors to the GRP. The GRP dynamic presented in Figure 22. Figure 22 Primorsky Krai GRP Volume Dynamics, % to previous year (Статистики, 1992-2014) The preparation to the Asia-Pacific Economic Cooperation, which was held in Vladivostok city, brought significant impact to the economic development of the region. For this time the position of the Primorsky Krai in the investment activities moved from one of the last in Russia up to the top 20. The SWOT matrix of the Primorsky Krai is shown in Table 9. …show more content…
However, the location within the country and considering neighbouring areas the region gets isolated in the northern parts, since the bordering northern areas are mostly underdeveloped rural localities. The interregional differences lead to the imbalance in the social and demographic spheres. Northern regions richer for the minerals with developed mining network with higher salaries. That constantly led to the slight outflow of the Primorsk Krai population. The isolation also effects the tariff growth and higher labour cost in the