The Tyumen Region is part of the Ural Federal District. The region population amounts to 1.5 million people (1% of the RF population), 0.8 million of which live in the city of Tyumen. The gross regional product (GRP), excluding autonomous districts, accounts for 1.5% of the total GRP of the Russian regions.
The regional economy is based on industrial manufacturing, which is dominated by the production and processing of hydrocarbons. In addition to industrial manufacturing, trade, transportation and storage services constitute a significant share of the GRP.
The economy of the Tyumen Region is notable for its high social and economic development indicators. In 2018, the GRP per capita amounted to 834.8 thousand roubles. In 2016-2018, the average value of this indicator was 1.4 times higher than the same average value throughout the country. In 2018, the GRP of the Tyumen Region per capita increased in comparable prices by 8.3% to 1,259 bln roubles. At the same time, the aggregate GRP of the RF constituent entities increased no more than by 2.8%.
The direct dependence of the economy and the budget on the world raw materials markets is rather moderate. In 2018, the industrial manufacturing in the Tyumen Region amounted to 41.3% of the GRP, of which 20.3% was accounted for extraction of minerals and 18.2% – for processing industry. During that year, the industrial production index rose and reached 110.2%. All the indexed sectors showed an increase, where the extraction of minerals grew by 13.9%, the processing industry – by 8.7%.
The Tyumen Region is one of the few constituent entities of the Russian Federation which demonstrates a steady growth in population. In 2010-2018, the annual growth of the population was 1-2%, and by the end of 2018, the number of people had reached 1.5 million people (excluding the population of the autonomous districts). In terms of the migration growth rate, the region is permanently among the top ten leading regions. The natural increase rate had its impact on the population growth and was as ever positive (four people per 1,000 inhabitants on average).
The region is highly urbanized: at the beginning of 2010, 60.5% of the population lived in cities, and by the end of 2018, the number had risen to 67.1%.
The budget of the Tyumen Region is characterized by a high share of own incomes of the total amount of its revenues (excluding subventions): within the period from 2016 to 2020, the average ratio of these indicators will reach 97%. Between 2016 and 2019, own incomes of the region increased by 74% and amounted to 204.6 billion rubles.
The region is distinguished by a minimum debt amount along with the annual growth of account balances. As of 01.01.2020, the public debt of the Tyumen Region amounted to 3.0 billion roubles, where the state guarantees provided by the Tyumen Region to enterprises of the agricultural sector and those of food and alcohol industries accounted for 89.4%. The rest amount of the debt was accounted for the budget loans.
The region has substantial liquid assets available. The liquidity level is growing faster than the average monthly expenses: at the beginning of 2018, the balances of budgetary accounts and deposits exceeded by 3.4 times the average monthly expenses incurred in 2017, and at the beginning of 2020, such balances exceeded the average monthly expenses incurred in 2019 by 5.8 times.
There are no cash gaps in the region budget. When managing its liquid assets, the Tyumen Region uses neither funds of commercial banks nor short-term loans provided by the Federal Treasury Department.