Economy

General information

Tatarstan is one of the most economically developed regions of Russia. The Republic is situated in the center of a large industrial region of the Russian Federation at the intersection of the most important highways connecting the east and west, north and south of the country.

The Republic of Tatarstan has significant economic potential and developed human capital. The competitive advantages of Tatarstan are its favorable geographical location, rich natural resources, highly qualified labor resources, powerful industrial and scientific complex, and developed transport infrastructure.

As for the key macroeconomic indicators, Tatarstan retains its leading position among the regions of the Russian Federation. In terms of gross regional product it is ranked 6th, in construction it holds the 2nd place, in industrial production, agricultural products and investments in fixed capital it occupies the 5th place, as for retail trade turnover it is ranked 7th.

At the end of 2023, the gross regional product is estimated at 4 320.0 billion rubles, or 103.6% in comparable prices to the level of 2022.

In the structure of the economy, the largest share, according to estimates, belongs to the industrial production – 45.8% (including mining – 24.6%, manufacturing – 19.1%, electricity, gas, steam; air conditioning – 1.7%, water supply; sanitation, waste collection and disposal, pollution elimination activities – 0.4%), agriculture – 3.9%, construction – 7.3%, wholesale and retail trade – 10.6% , transportation and storage – 4.6%.

The industrial production index amounted to 103.3% compared to 2022, the volume of shipped products was 4,742.3 billion rubles.

The volume of agricultural products amounted to 289.2 billion rubles, or 92.1% in comparable prices to the level of 2022.

The volume of work performed in the construction activity amounted to 708.1 billion rubles, or 115.1% in comparable prices to the 2022 level.

3,436.5 thousand sq.m. commissioned m of total housing area (111.1% compared to 2022).

The volume of investments in fixed capital amounted to 1,180.4 billion rubles, or 122.0% in comparable prices to the 2022 level.

Retail trade turnover amounted to 1,400.1 billion rubles, or 111.3% in comparable prices to the level of 2022.

The average gross payroll in January-December 2023 in the republic amounted to 61 840,7 thousand rubles and increased by 18.8% compared to the level of 2022, real wages amounted to 113.2%.

At the end of December 2023, in the Republic of Tatarstan the number of registered unemployed people was 4.3 thousand people, or 0.21% of the labor force.