page_title: Nizhny Novgorod Oblast
section_title: Economy
hierarchical_section_title: Nizhny Novgorod Oblast / Economy
caption_attribution_description: Русский: Торфобрикетный завод в пос. Керженец (Peat Briquette Factory)
context_page_description: Nizhny Novgorod Oblast, is a federal subject of Russia. Its administrative center is the city of Nizhny Novgorod. It has a population of 3,310,597 as of the 2010 Census. From 1932 to 1990 it was known as Gorky Oblast.
  The oblast is crossed by the Volga River. Apart from Nizhny Novgorod's metropolitan area the biggest city is Arzamas. Near the town of Sarov there is the Serafimo-Diveyevsky Monastery, one of the largest convents in Russia, established by Saint Seraphim of Sarov. The Makaryev Monastery opposite of the town of Lyskovo used to be the location of the largest fair in Eastern Europe. Other historic towns include Gorodets and Balakhna, located on the Volga to the north from Nizhny Novgorod.
context_section_description: The oblast ranks seventh in Russia in industrial output. Processing industries predominate in the local economy. More than 650 industrial companies employ nearly 700,000 people, or 62% of the workforce involved in material production. Industry generates 83% of the regional GDP and accounts for 89% of all material expenditures. The leading sectors are engineering and metalworking, followed by chemical and petrochemical industries and forestry, woodworking, and paper industries. The first three sectors account for about 75% of all industrial production.
  The oblast has traditionally been attractive to investors. In 2002, Moody's rating agency confirmed a Caa1rating based on the region's long-term foreign currency liabilities.
  The region maintains trade relations with many countries and has an export surplus. The largest volume of exports goes to Ukraine, Belarus, Switzerland, Kazakhstan, Belgium, and France. Imports come mainly from Ukraine, Germany, Belarus, Kazakhstan, Austria, Netherlands, China, and the United States.
  The stock market infrastructure is quite well developed in Nizhny Novgorod, and the exchange business is expanding. Companies and organizations registered in the region include 1153 joint-stock companies, 63 investment institutions, 34 commercial banks, 35 insurance companies, 1 voucher investment fund, 1 investment fund, 17 nongovernmental pension funds, 2 associations of professional stock market dealers, and 3 exchanges (stock, currency, and agricultural).  The oblast is noted for having relatively highly developed market relations.
  Today, the region needs serious partners interested in equitable, long-term, mutually beneficial partnerships.
  There are 650+ industrial companies in the region,  most of them engaged in the following sectors:
  Machine-building and engineering
  Chemical & petrochemical
  Fuel & energy
  Ferrous and non-ferrous metallurgy
  Construction materials
  Glass
  Wood and paper
  Cloth-making
  Food & food processing
  Medical & pharmaceuticals
  Printing & publishing.
  Peat extraction.
  These key industries are supplemented by other sectors of the economy such as agriculture, trade, services, communications and transport.
caption: Peat Briquette Factory
exif: {"Image Make": "Canon", "Image Model": "Canon PowerShot A95", "Image Orientation": "Horizontal (normal)", "Image XResolution": "180", "Image YResolution": "180", "Image ResolutionUnit": "Pixels/Inch", "Image Software": "b'\\xcf\\xf0\\xee\\xe3\\xf0\\xe0\\xec\\xec\\xe0 \\xf6\\xe8\\xf4\\xf0\\xee\\xe2\\xee\\xe9 \\xee, ... ]", "Image DateTime": "2013:04:09 12:59:51", "Image YCbCrPositioning": "Centered", "Image ExifOffset": "258", "Thumbnail Compression": "JPEG (old-style)", "Thumbnail JPEGInterchangeFormat": "1124", "Thumbnail JPEGInterchangeFormatLength": "7828", "EXIF ExposureTime": "1/1000", "EXIF FNumber": "14/5", "EXIF ExifVersion": "[]", "EXIF DateTimeOriginal": "2006:12:10 13:47:11", "EXIF DateTimeDigitized": "2006:12:10 13:47:11", "EXIF ComponentsConfiguration": "YCbCr", "EXIF CompressedBitsPerPixel": "3", "EXIF ShutterSpeedValue": "319/32", "EXIF ApertureValue": "95/32", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "95/32", "EXIF MeteringMode": "Pattern", "EXIF Flash": "Flash did not fire, auto mode", "EXIF FocalLength": "125/16", "EXIF SubSecTime": "424", "EXIF SubSecTimeOriginal": "0", "EXIF SubSecTimeDigitized": "0", "EXIF FlashPixVersion": "[]", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "1280", "EXIF ExifImageLength": "960", "Interoperability InteroperabilityIndex": "R98", "Interoperability InteroperabilityVersion": "[48, 49, 48, 48]", "EXIF InteroperabilityOffset": "1028", "EXIF FocalPlaneXResolution": "1600000/283", "EXIF FocalPlaneYResolution": "300000/53", "EXIF FocalPlaneResolutionUnit": "2", "EXIF SensingMethod": "One-chip color area", "EXIF FileSource": "Digital Camera", "EXIF CustomRendered": "Normal", "EXIF ExposureMode": "Auto Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "1", "EXIF SceneCaptureType": "Standard"}