Siberia - Economy

Economy

Siberia is extraordinarily rich in minerals, containing ores of almost all economically valuable metals—largely because of the absence of Quaternary glaciation outside highland areas. It has some of the world's largest deposits of nickel, gold, lead, coal, molybdenum, gypsum, diamonds, diopside, silver and zinc, as well as extensive unexploited resources of oil and natural gas. The Khanty-Mansiysk region is home to 70% of Russia's developed oil fields. Russia contains about 40% of the world's known resources of nickel at the Norilsk deposit in Siberia. Norilsk Nickel is the world's biggest nickel and palladium producer.

Siberian agriculture is severely restricted by the short growing season of most of the region. However, in the southwest where soils are exceedingly fertile black earths and the climate is a little more moderate, there is extensive cropping of wheat, barley, rye and potatoes, along with the grazing of large numbers of sheep and cattle. Elsewhere food production, owing to the poor fertility of the podzolic soils and the extremely short growing seasons, is restricted to the herding of reindeer in the tundra — which has been practiced by natives for over 10,000 years. Siberia has the world's largest forests. Timber remains an important source of revenue, even though many forests in the east have been logged much more rapidly than they are able to recover. The Sea of Okhotsk is one of the two or three richest fisheries in the world owing to its cold currents and very large tidal ranges, and thus Siberia produces over 10% of the world's annual fish catch, although fishing has declined somewhat since the collapse of the USSR.