Possessing high opportunities for economic development, Russia still cannot boast of the first places in the most significant spheres of activity. Experts identify only a few sectors of the economy where the country has achieved a leading position. We are talking about oil production, nuclear energy and the space industry.
Oil production in Russia
Oil extraction and production of petroleum products have always been a priority area in the domestic economy. By the beginning of this decade, Russian oilmen reached high rates of oil production - more than 10 million barrels per day. In the field of oil production, thus, the Russian Federation secured the title of the largest producer, taking the first place in the world by 2013.
Estimates by Western experts indicate that the Russian oil industry is quite capable of sustaining the indicated production rates for the next one or two decades. Experts also tried to calculate the time frame during which oil reserves in the country will be exhausted while maintaining the current rates of its production. Scientists' calculations indicate that only taking into account the proven reserves, Russia can produce oil for another four decades, or even more.
Nuclear industry
Nuclear energy is actively and systematically developing in Russia. A special place in this branch of the economy is given not only to increasing the capacity of plants, but also to strengthening their safety. Russia produces installations for nuclear power plants not only for domestic use, but also for other countries, including the states of Africa, Asia and South America.
Russian projects of fast neutron reactors operating in a closed cycle are in high demand on the world market.
In the nuclear industry, Russia is considered the world leader in terms of scientific and technical developments related to the design of reactors, as well as the development of nuclear fuel. Domestic nuclear power plants are considered among the most reliable and safe in the world. The demand for products of the nuclear industry is steadily growing, which makes this industry one of the most promising in the country.
Space industry
Today the Russian Federation occupies a very strong position in the field of space exploration. While the global space industry, represented by the United States and the European Union, is revising its strategic goals and objectives, Russia continues to systematically master new areas of space technology.
Other countries claiming leadership in this area of the economy - China, Japan, India and Brazil - cannot yet make much headway in improving space technologies.
The most confident Russian specialists in the field of cosmonautics feel themselves in the market for launch vehicles and in the development of satellite systems. Orbital constellations of Russian satellites are capable of meeting the needs of most sectors of the country's economy. In Russia, there is a concept for the development of the space industry, calculated for several decades ahead.
