Resources
Oil
Russian Resources
Russia is the largest country in the world. And within these sizable borders they have a vast amount of natural resources. Russia has large amounts of resources such as gas, coal, oil and mineral reserves. These resources, namely oil, allow Russia to gain revenue from exporting. This has presented Russia with a problem. They are doing well and are continuing to rely on their exports despite calls for diversification. Countries that rely heavily on exporting resources generally do well initially but this fact usually has negative long term effects on economic development. Another resource that Russia has is its people. Russia has a large and highly educated workforce. However, these workers generally do not posses the skills to compete on the global level. Because of this, firms have been falling short of their potential, and profits other than from exports are not stable.
Pat Threadgill
