Economic Performance
In 2000, Chuvashia’s economy continued its rebound from the 1998 Russian financial crisis, with industrial output growing by 10.6%, compared to the Russian Federation’s overall rate of 9.3%.
In the year 2000, the average official per-capita income was 1,200 rubles ($45) per month. Actual income, especially in urban areas like Cheboksary, is significantly higher because many people under-report their true earnings.
While the financial crisis of 1998 significantly affected Chuvashia and the rest of Russia, it is important to note that the region was less affected by the crisis than were Moscow and Saint Petersburg. Nonetheless, economic output in dollar terms is still far behind from the levels achieved in 1997.
The most significant industrial sectors in Chuvashia include electronics and machine building, electrical energy, chemical manufacturing, and food processing.
Read more about this topic: Economy Of The Chuvash Republic
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