Russian mechanical engineering sector sees production growth in November after 8-month decline

157
2
AK&M 14 January 2021 20:04

In November 2020, production increased in the Russian mechanical engineering sector after staying 8 months in decline (+4.6% year-on-year). For 11 months of 2020, positive results were achieved in the segments of machines and equipment, production of PCs, electronic and optical products, according to the latest issue (No. 1405) of AK&M Information Agency's monthly paper "RUSSIAN INDUSTRIES: PRODUCTION, FINANCE, SECURITIES. Mechanical Engineering" issued on January 13, 2021.

Shipments of machine-building products to the railway industry increased by 0.6% in November 2020 against the same month in 2019, supplies to the domestic market also increased (+8.9%).

Kulon launched new production of capacitors for radio electronic applications at its site in St. Petersburg. The new production capacity is up to 2 million pcs per month. Stacked ceramic capacitors are components of modern electronic systems used in radio electronics.

Exports of machines and equipment, cars and trucks for 10 months of 2020 amounted to $19.851 billion, while imports of machine-building products soared 7.6 times year-on-year to $150.362 billion. Compared with the previous year, 10-month exports decreased for the whole range of products, although in money terms, exports of passenger cars increased significantly in October against September. Machines and equipment accounted for 7.0% of the total exports in January-October 2020. Export supplies of electrical equipment decreased by 30.4%, instruments and optical devices by 20.9%, surface transport vehicles, except for railway vehicles by 24.6%, mechanical equipment by 9.1%. Physical exports of passenger cars decreased by 43.6%, exports of trucks by 15.2%.

For 11 months of 2020, more than 256,000 cars were sold in Russia owing to the government's demand stimulation efforts. 1.455 million vehicles were sold in January-November, which is 7.7% below the result achieved for 11 months of 2019.

An in-depth review is provided in issue 1405 of AK&M Information Agency's "RUSSIAN INDUSTRIES: PRODUCTION, FINANCE, SECURITIES. Mechanical Engineering" monthly paper issued on January 13, 2021.