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Foresters and fishermen least affected by coronavirus in Far Eastern Federal District

Foresters and fishermen least affected by coronavirus in Far Eastern Federal District
The enterprises of the fishing, forestry, construction, oil and gas and agricultural sectors suffered the least from coronavirus restrictions in the Far Eastern Federal District. Moreover, in some areas even growth in demand is expected. This is stated by the Far East Investment Promotion and Export Support Agency (ANO IPA). 

According to TASS, especially the strong influence of the pandemic, IPA experts noted in the field of tourism, logistics, medicine, diamond cutting and mining industries. Logistics problems arose due to the suspension of air transportation, high costs of idle transport, and sanitary standards. Subsoil users' revenues declined due to export restrictions and the closure of some markets.

Medical companies experienced a 25-50% reduction in customers. In addition, the purchasing power of the population decreased, which also reduced revenue. The only positive thing is that thanks to the pandemic, the prospects for telemedicine were demonstrated.

Among those whom the coronavirus has not greatly influenced, the oil and gas industry is noted in the ANO IPA. According to the agency, investors in this area are not canceling their investment projects, while experts do expect growth in gas demand in the Far East as a more environmentally friendly fuel.

Farmers and construction companies expect a decline due to the pandemic, but they have suffered less in the Far Eastern Federal District than in other regions. In addition, salmon fishing has already begun in some areas, and the cost of quarantine for shift workers and other sanitary requirements should pay off with the increased price of fish products.

The recession at the beginning of the year due to the closure of the Chinese border did not prevent timber processing companies from continuing to work. At the same time, many timber merchants became one of the systemically important companies.

January 26: current information on coronavirus in the Far East
Digest of regional events and latest statistics