IN MORDOVIA, THE UTILIZATION OF PRODUCTION CAPACITIES IN INDUSTRY AND CONSTRUCTION HAS INCREASED
The capacity utilization in the Russian economy reached historical highs by the end of 2023. This is stated in the March issue of the report by the Bank of Russia “Regional Economy: Comments by the Main Department”.
Analysts from the regulator note that the level of production utilization was influenced by increased demand for domestic products. In Mordovia, according to surveys conducted by the Bank of Russia, capacity utilization in the fourth quarter of 2023 reached 89%. In particular, it increased over the year for industrial enterprises and construction organizations.
In 2023, against the backdrop of high demand, regional enterprises actively invested in expanding and modernizing production. For example, in Mordovia, a large machinery plant automated the cutting and welding section of its production, speeding up the production of parts by 40%. According to statistics, investment in fixed capital in the republic increased by 12% compared to 2022.
The report “Regional Economy: Comments by the Main Department” provides up-to-date data on current trends in various sectors of the economy in Russian regions. To prepare it, monitoring of non-financial enterprises conducted by the Bank of Russia is utilized (involving approximately 15,000 respondents across the country). You can participate in the survey by filling out an application on the regulator'swebsite.