What do you know?
How much of the world’s natural gas is from Russia?
Russia has more natural gas than any other nation, with approximately 21 per cent of the world’s total supply.
Key points
- In recent years, Russia’s population has decreased due to low A measurement of the number of live births in a country. Usually given as a figure per 1,000 people per year. and relatively high death rates.
- Russia has more natural gas than any other nation, as well as substantial oil reserves.
- The country has invested in manufacturing and the oil industry, and has formed new trade links with other countries. Russia has a positive balance of trade.
- Note as of March 2022: Some countries are not trading some goods and resources with Russia due to the invasion of Ukraine. The economic information in this guide may therefore change.
What social changes are taking place in Russia?
In recent years, Russia’s population has decreased. A fall in birth rates around the 1990s has led to fewer women of reproductive age in Russia. In addition to this, the cost of living and raising children is high, which means fewer people can afford to have children.
Why is the population of Russia falling?
Between 2008 and 2019, the population grew slightly. However since 2019, it has been falling again.
Russia has experienced:
Decreased birth rates - President Vladimir Putin is aiming to increase birth rates through providing Something that aims to encourage someone to act in a particular way. For example, a government pays money to people in exchange for sending their children to school, or offers lower tax for cars that don't cause pollution to encourage people to use electric vehicles. such as A period of time when tax is either reduced or does not have to be paid to the government. This could be done to help the government to achieve a specific target, eg giving people tax breaks if they have fewer or more children. for families and free school meals for primary students.
Relatively high death rates - Many deaths in Russia are from illnesses such as heart attacks and strokes.
Increased life expectancy - People in Russia can now expect to live on average two and a half years longer than they did back in 2008. Life expectancy between men and women varies. On average, women in Russia can expect to live ten years longer than men. This is a pattern that is reflected in many countries.
This graph shows the population change in Russia from 1960 onwards.
Question
What year was the population of Russia at its highest?
Russia’s population was highest in the early 1990s. There were around 148 million people living in Russia during this time.
What economic changes are taking place in Russia?
Russia has large reserves of oil and gas. The country has more natural gas than any other nation, with approximately 21 per cent of the world’s total supply. It also has large reserves of oil, equating to around six per cent of the world’s total.
Russia has invested inMaking products, often in factories. and the oil industry. The country has formed newWhen countries buy and sell to one another. links with Asian countries, where Russia’s gas and oil enablesAn increase in the production of goods and services over a period of time that allows a country to earn more money. For example, a brand-new pipeline supplies gas to China.
Overall, Russia’sThe value of all of the goods and services produced in a country during a year. has increased over the last 20 years. This means the country is becoming wealthier. Russia has a positiveThe difference between a country’s imports and exports.. They earn more money fromTo sell goods to other countries and send them out of the country to them. The goods are known as exports. (includingA natural fuel such as coal, oil or gas found within the Earth’s crust. Fossil fuels are formed from the remains of living organisms., such as coal, oil and gas) than they spend onTo purchase (buy) goods from abroad and bring them into a country. The goods are known as imports. (including aircraft and cars).
Question
How much of the world’s supply of oil and gas is located in Russia?
Russia holds 21 per cent of the world’s total supply of natural gas and around 5 per cent of the world’s total supply of oil.
Why do countries trade with each other?
Countries around the world trade with each another. This enables countries to access things that they do not have, for example oil. It also means countries can sell the things they do have and make money.
- A country earns money through exports. These are the things they sell to other countries.
- A country spends money on imports. These are the things that they buy from other countries.
- If more money is earned on exports than is spent on imports, a country becomes wealthier.
- If more money is spent on imports than is earned on exports, a country becomes poorer.
Question
Why is it good to have a positive balance of trade?
Balance of trade is the difference between money spent on imports and money earned through exports. When a country spends less than they earn it is called a positive balance of trade. This is good as it gives the country more money to spend on the things that it needs.
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