07.08.2024, 11:39
Russia is ahead of the UK in the industrial development index
Source: OREANDA-NEWS
OREANDA-NEWS Russian Foreign Ministry spokeswoman Maria Zakharova, commenting to RIA Novosti on Mali's decision to sever Russia has risen to the eighth place in the list of industrialized economies. RIA Novosti writes about this with reference to data from the British association of manufacturing sectors Make UK.
In the industrial development index, the Russian Federation was ahead of the United Kingdom, which dropped to 12th place. At the same time, China and the United States retained leadership. The agency notes that the growth rate of production in Russia has continued to increase since March 2023. Last year, they increased by 3.5 percent, the main contribution was made by the manufacturing industry — plus 7.5 percent. Analysts at Make UK note that this trend is explained by the "unprecedented growth of the defense industry, which accounts for more than six percent of the country's GDP," but localization of production and import substitution also played an important role.
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Experts note that the UK's loss of position is due to the country's lack of a long-term industrial strategy. Of the most developed countries in the world, only the United Kingdom does not have a plan for manufacturing sectors. According to researchers at the University of Sheffield, the UK creates low-skilled jobs without increasing production potential. The real sector of the British economy also continues to be negatively affected by the withdrawal from the EU and the abandonment of Russian oil and gas, analysts say.
The Economist magazine noted by the end of 2023 that Greece has become the country that has achieved the greatest economic success. The rating was compiled according to five economic and financial criteria — core inflation, the width of inflation (the share of goods in the consumer basket), GDP, the number of jobs and stock market indicators. South Korea, the United States, Israel, Luxembourg, Canada, Chile, Portugal, Spain and Poland also made it to the top ten of the list. Russia was not included in the rating.
In the industrial development index, the Russian Federation was ahead of the United Kingdom, which dropped to 12th place. At the same time, China and the United States retained leadership. The agency notes that the growth rate of production in Russia has continued to increase since March 2023. Last year, they increased by 3.5 percent, the main contribution was made by the manufacturing industry — plus 7.5 percent. Analysts at Make UK note that this trend is explained by the "unprecedented growth of the defense industry, which accounts for more than six percent of the country's GDP," but localization of production and import substitution also played an important role.
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Experts note that the UK's loss of position is due to the country's lack of a long-term industrial strategy. Of the most developed countries in the world, only the United Kingdom does not have a plan for manufacturing sectors. According to researchers at the University of Sheffield, the UK creates low-skilled jobs without increasing production potential. The real sector of the British economy also continues to be negatively affected by the withdrawal from the EU and the abandonment of Russian oil and gas, analysts say.
The Economist magazine noted by the end of 2023 that Greece has become the country that has achieved the greatest economic success. The rating was compiled according to five economic and financial criteria — core inflation, the width of inflation (the share of goods in the consumer basket), GDP, the number of jobs and stock market indicators. South Korea, the United States, Israel, Luxembourg, Canada, Chile, Portugal, Spain and Poland also made it to the top ten of the list. Russia was not included in the rating.
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