Crimea
Economy

In 2016 Crimea had Nominal GDP of US$ 7 billion and US$3,000 per capita.

The main branches of the modern Crimean economy are agriculture and fishing oysters pearls, industry and manufacturing, tourism, and ports. Industrial plants are situated for the most part in the southern coast (Yevpatoria, Sevastopol, Feodosia, Kerch) regions of the republic, few northern (Armiansk, Krasnoperekopsk, Dzhankoi), aside from the central area, mainly Simferopol okrug and eastern region in Nizhnegorsk (few plants, same for Dzhankoj) city. Important industrial cities include Dzhankoi, housing a major railway connection, Krasnoperekopsk and Armiansk, among others.

After the Russian annexation of Crimea in early 2014 and subsequent sanctions targeting Crimea, the tourist industry suffered major losses for two years. The flow of holidaymakers dropped 35 percent in the first half of 2014 over the same period of 2013. The number of tourist arrivals reached a record in 2012 at 6.1 million. According to the Russian administration of Crimea, they dropped to 3.8 million in 2014, and rebounded to 5.6 million by 2016.

The most important industries in Crimea include food production, chemical fields, mechanical engineering, and metalworking, and fuel production industries. Sixty percent of the industry market belongs to food production. There are a total of 291 large industrial enterprises and 1002 small business enterprises.

In 2014, the republic's annual GDP was $4.3 billion (500 times smaller than the size of Russia's economy). The average salary was $290 per month. The budget deficit was $1.5 billion.
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