Economy
Smolensk Oblast is part of Russia's Central economic region. Industry in this district includes sectors such as engineering and metalworking (production of measuring and hydrometeorological devices, computer equipment, electrical appliances, refrigerators, automobiles, power-generating and store equipment, and aircraft manufacture), the chemical industry (production of ammonia, saltpeter, fertilizers, and plastics), light industry (production of clothing, and cotton and linen fabrics), the food industry, and brown coal and peat production.
Nearly 40% of the industrial production potential is concentrated in the city of Smolensk. Diamond cutting companies have the largest share of GDP. The largest of these companies is the Kristall State Unitary enterprise (GUP Kristall) in Smolensk. Smolensk is also a major center of the engineering and metalworking industries, with the instrument-making, electronics, electrical, and auto industries having the largest share of GDP among engineering companies.
Read more about this topic: Smolensk Oblast
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)