Bashkiria’s GRP crossed the new border in 2014 - 1.3 trillion rubles

UFA, 12 March 2015. /Bashinform News Agency, Elvira Latypova/. The Gross Regional Product (GRP) of Bashkortostan amounted to 1 trillion 343.9 billion rubles in 2014, exceeding the level of 2013 by 1.5 percent, according to the materials of the Ministry of Economic Development RB.

The planned landmark of 2014 (1 trillion 266.9 billion rubles) was exceeded by 6.1 percent.

The GRP per capita in Bashkortostan totaled 330.1 thousand rubles. On this parameter the republic is on the 26th place among the 85 subjects of the Russian Federation (in 2010 - on the 37th). The average GDP per capita is 485.8 thousand rubles.

"The growth of the gross regional product of the republic in 2014 was based on the one hand on positive trend in the industrial sector, investment activity, on the other hand - on domestic consumer demand, reflected in increase in the consumption of goods and services, as well as positive growth in agriculture", it is stated in the materials of the Ministry of Economic Development.

At the same time the second half of 2014 was characterized by lower oil prices, imposition of economic sanctions against Russia from the United States and the European Union, as well as devaluation of the ruble. "There is a slowdown in the economy in the republic, as well as in Russia", the Ministry reports.