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)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)