“Rosstat” for the first time calculated the share of the oil and gas sector in Russia’s GDP – at the end of 2020, it amounted to 15.2% and correlates with oil prices.
At the end of 2020, the share of the oil and gas sector in the gross domestic product (GDP) of Russia amounted to 15.2%, having decreased from 19.2% a year earlier, said Pavel Maksimov, deputy head of the produced GDP department of the “Rosstat”National Accounts Department.
Despite the importance of the sector for the Russian economy, this is the first time that such an experimental calculation has been performed by “Rosstat.” The statistical series since 2017 was published in June on the website of the statistics service, RBC reports.
Based on GDP in current prices for 2020 (almost 107 trillion rubles), the oil and gas industry is responsible for the added value of 16.3 trillion rubles.
The oil and gas sector in the “Rosstat” methodology refers to enterprises engaged in the production of crude oil, natural gas and the production of their refined products (the primary subsector,
which accounts for about 72% of the total oil and gas sector); the production of goods and services related to oil production and gas, their processing, transportation and sale to the consumer, as well as enterprises carrying out ancillary activities (secondary subsector, about 28%).
In the United States, the share of the oil and gas sector is 8%, in Saudi Arabia – 50%, in Norway – 14%, in Kazakhstan – 13.3%, in the UAE – 30%, in Canada – less than 10%.
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