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Industrial Production Dynamics in Q3 2021

Andrey S. Kaukin – Head of Department for System Analysis of Sectorial Markets of the Russian Presidential Academy of National Economy and Public Administration; Head of Department of Sectorial Markets and Infrastructure of the Gaidar Institute for Economic Policy, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Eugenia M. Miller – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In Q3 2021, industrial output growth was mainly driven by extractive industries owing to a pickup in demand for power-generating coal and natural gas and ebbing restrictions related to the OPEC+ agreement. The following factors kept affecting dynamics of different sectors of the Russian industry: further anti-COVID restrictive measures introduced both in Russia and its main trade partner countries (particularly, China); soaring prices for primary commodities (for the chemical industry and metallurgy) on the world’s commodity exchanges; termination of government support programs and consumer demand stimulating measures (for the light industry and the engineering industry).

The article was prepared in the framework of execution of state order by RANEPA («Approaches to studying the impact of consumer demand on the formation of incentives for technological development of firms»).

Key words: industrial sector, sectors of economy, mining industry, manufacturing, Rosstat, OPEC+ deal.

JEL-codes: L16, L6, L7, L8, L9.