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:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)