2.0 time zones across two continents which

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2.0
COUNTRY CHOSEN

We
have chosen Russia as our new target market and new product chosen is a sanitary
pad. As we can know, the largest country in the world can be described as Russia,
which is occupied one-tenth of all the land on Earth, 11 time zones across
two continents which are Europe and Asia, and has coasts on three oceans
includes the Atlantic, Pacific, and Arctic. Russia contains almost 120 ethnic
groups who can speak more than a hundred languages.  

2.1 JUSTIFICATION

2.1.1
Populations Growth

At
the ninth place, there are Russians who are one of the most populous countries
in the world. The population of Russia in 2017 totaled was 146,448,044, and the
growth rate 2017 is about 0.04%. Despite having a large population, the growth
of the Russian population has been quite beneficial. The small number of births
and the magnitude of the death rate makes the population of Russians reduced by
0.002% each year.

In
addition, with its area of ??17,075,200 km2, the country also has a very low
density of only 8 people / km2, very different with Singapore which has a
population density of up to 6,389 inhabitants / km2.

Russia
has the largest female population. The current female population is about
78,617,159 (53.7%) larger than the current male population of 67,830,885
(46.3%). The overall population of Russia has decreased with more men, including
the decline in men’s lifespan.

The
diagram below shows the resident age distribution of Russian Federation in 2017
according to the estimated;

15.2%

71.8%

13%

 

– % of population
under 15

– % of population
between 15 and 64 years old

– % of population 65+

As these figure shown, about 22,236,641 of young people whose age
under 15 years old with 11,414,028 males and 10,822,613 females was estimated.
Then, persons between 15 and 64 years old were estimate around 105,086,061 with
50,099,049 males and 54,987,011 females, and lastly about 19,067,297 persons who
above 64 years old was estimated with 5,757,519 males and 13,309,779 females.
In conclusion, we can see that the higher population of females is persons
between 15 and 64 years old which are whose will the higher behavior of
purchasing sanitary pads.

2.1.2
Imports

Importers
are required to complete a Russian customs freight declaration which are must
be supported by the following documents includes import licenses, certificates
of origin, contacts, import permission and licenses such as for products
containing encryption technology, documents confirming the legitimacy of
declarants or brokers or importers and others.  In addition, all customs import declarations
must be submitted electronically. In addition, currency control regulations
require the issuance of a transaction passport for both exports and imports to
ensure that hard currency earnings are repatriated to Russia. The regulations
also ensure that transfers of hard currency payments for imports the goods are actually
received and properly valued.

Totally,
imports to Russia went up 13.9 percent from the previous year to USD 20.43
billion in September 2017. Imports from non-CIS countries climbed 13.1 percent
to USD 18.21 billion and those from CIS countries advanced 21 percent to USD
2.21 billion. Imports in Russia averaged 13229.81 USD Million from 1994 until
2017, reaching an all-time high of 32481 USD Million in December of 2013 and a
record low of 2691 USD Million in January of 1999.

Based
on the diagram below, we can see that in October 2016, Russia imports was
18,206 USD and it decreased to 17,586 USD in Nov 2016 and rebounded in Dec 2016
by 19,498 USD. Then, entering in 2017, Russia’s imports rose in January to
March from 13,745 USD to 18,698 USD. After an increase in the first three
months, in April 2017 it decreased by 598 USD at a rate of 18,100 USD.
Additionally, Russia’s imports have shown a good improvement in the next month,
which in May 2017 until August 2017. The increase was 19,589 USD to 22,354 USD.
And finally, in September 2017, imports have dropped to 20,425 USD.

As
conclusion, Russia accept higher import from other country is on December 2016
with 19 498 USD and for 2017 is on August with 22 354 USD.  And then for the least import is on January
2017 with 13 745 USD.

 

 

So, it can conclude
that Russia accepts import from many countries includes United States, China,
Germany, Italy, France, and others.

2.1.3
Economy Growth in Russia

Russia
is categorized as a high-income country with the mixed economy with state ownership
in strategic areas. Market reform in 1990-many privatized many Russian
industries and agriculture, except for the fields of energy and defense. The
vast geography of Russia is an important part of the country’s economic
activity, some sources say that Russia has more than 30% of the world’s natural
resources. The World Bank estimates the total value of Russia’s natural
resources of $ 75 trillion dollars. Russia calculates energy income to drive
its growth. Russia has very large quantities of oil, gas, and metals, which
contribute largely to the export of this country. Until 2012, the oil and gas
sector accounted for 16% of GDP, 52% of budgeted revenue, and more than 70% of
exports.

In
2015, Russia’s economy ranks the world sixth largest and the 12th largest by
market value. Between 2000 and 2012, Russia’s energy exports have increased
living standards so rapidly, and net revenues have risen to 160%. In the US
dollar, net revenues rose 7 times when compared to 2000. In the same period,
the unemployment rate and poverty decreased half and population satisfaction
also increased significantly. This growth is a result of 2000s commodity
surges, high oil prices, meticulous economics and fiscal policy. However, this
growth is not evenly distributed. The 110 wealthiest people dominate 35% of the
total financial assets. The bad government also signaled that the country
experienced the second largest illegal money outflow in the world, amounting to
around 880 billion dollars from 2002 to 2011. Since 2008 Forbes has repeatedly
called Moscow as the “capital of the world’s billionaires”

In
January 2016, Bloomberg placed Russia’s economy as the 12th most innovative in
the world, up from 14th in 2015 and 18th in 2014. Russia has the world’s 15th
largest patent application and 8th high-tech enterprise the most in the field
of internet and aeronautics, as well as having the highest degree of engineers
and third highest ranking scientists in the world.

According
to Russian President Vladimir Putin said on Friday 2nd July 2017 that
Russia’s economy has entered a new stage of growth. In a speech at the Economic
Forum St. Petersburg, Putin said, foreign direct investment in Russia reached 7
billion dollars in the first quarter of 2017, up 2.3 percent year on year.
According to him, the growth rate of foreign investment in Russia has surpassed
its economic growth rate and this marks the emergence of a new phase of growth
in the Russian economy. The Russian economy is growing moderately in the first
quarter of 2017, growing 0.5 percent year-on-year, initial data from The
Federal Statistics Service showed on Wednesday (17/5). Gross domestic product
(GDP) rebounded in the fourth quarter, up 0.3 percent after contraction mainly
due to a decline in oil prices and Western sanctions over Russia’s role in the
Ukrainian crisis.

Categories: Currency

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