Expansion of Russian non-resource exports: potential risks

Abstract

The article analyzes possible expansion of Russian over the next six years. It shows that even sustainable relatively high average annual growth of export volumes equal to the previous years’ growth rates with unlikely prospect of higher world prices, as international economic organizations predict, will not be sufficient for achieving double increase in exports in a satisfactory manner. Special attention is paid to the low intensity of manufacturing facilities modernization. The competitiveness of industrial production is mostly low due to technological backwardness and might affect the expansion of non-resource exports.