Refined data on capital investments in 2011–2012
The Federal State Statistics Service of Russia (Rosstat) published refined data on investment volumes in 2011-2012 and adjusted growth rate data in comparable prices for the period between 2001 and 2012.
Based on annual reports and final calculations of investment volumes which are not monitored by direct statistical methods, capital investment volumes increased to Rb 11035.6bn (+Rb 258.8m to the previously published data) in 2011. In 2012, capital investment volumes amounted to Rb 12568.8bn, exceeding by Rb 290m the data published in statistical bulletins in December 2012 and January 2013.
Physical capital investment indices were refined for years based on the method of average annual deflator indices and generation of time series for capital investments in average annual prices. As a result, in 2009 capital investments were estimated to decline by 13.5% against the preceding year vs. the previously estimated 15.7%.
The values of investment dynamics saw most significant changes in 2011: capital investment growth rate increased to 10.8%, thereby exceeding by 2.5 p.p. the preliminary estimation. As a result, investment volumes exceeded by 1.9% in 2011 and 8.6% in 2012 the pre-crisis level of 2008.
It should be noted that higher than anticipated growth in capital investments was not accompanies by faster GDP rates basically due to reproduction of current proportions of financing of the investment process by source and type of business activity.
Izryadnova O. I. – Head of Structural Policy Department