Russia Tenders

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The economy of Russia is a mixed economy, with enormous natural resources, particularly oil and natural gas. It is the fifth-largest economy in Europe, the world's eleventh-largest economy by nominal GDP, and the sixth-largest by PPP. Russia's vast geography is an important determinant of its economic activity, with some sources estimating that the nation contains over 30% of the world's natural resources. In 2016, the oil-and-gas sector accounted for 36% of federal budget revenues. Russia has been widely described as an energy superpower; as it has the world's largest natural gas reserves, the second-largest coal reserves, the eighth-largest oil reserves, and the largest oil shale reserves in Europe. It is the world's leading natural gas exporter, the second-largest natural gas producer, and the second-largest oil exporter, and producer. Russia's foreign exchange reserves are the world's fifth-largest. It has a labour force of roughly 70 million people, which is the world's sixth-largest. Russia's large automotive industry ranks as the world's tenth-largest by production. It has a large and sophisticated arms industry, capable of designing and manufacturing high-tech military equipment, and is the world's second-largest exporter of arms. Russia is the world's fourteenth-largest exporter. In 2019, the Natural Resources and Environment Ministry estimated the value of natural resources to 60% of the country's GDP.