* share in structure of GDP
About the region
The Magadan Region (Kolyma) is located at the extreme north-east of the Far Eastern Federal District and is considered to be the most urbanized region of the Far East: 94% of population live in the towns and settlements (2/3 of them leave in Magadan). The Magadan Region is one of the most severe regions of the Far East. All territory of Kolyma is considered to be the Extreme North. Permafrost, which is so typical for this region, obstructs civil and industrial construction, as well as any other economic activity.
Nevertheless, difficult climate didn’t prevent the Magadan Region in 2014 to take leading positions according to the rates of industrial production growth among all far eastern regions (industrial production growth index was 7.8% in comparison with average National index, which is 1.7%). Extraction of commercial minerals in the Magadan Region was increased by 10% in 2014, at that yearly turnover in this industry reached 58 bln. rubles. Basis of the regional economy - is gold mining industry. About 135 g of gold per person is mined every year in the Magadan region. In 2014 total amount of 24 ton of gold was mined. One of the largest gold mining provinces in the world with inferred resources of 120-125 ton per year is located at the territory of the Magadan region.
Besides, fishing industry is developing in the region. In 2014 the haul of live, fresh and cooled fish was 63.4 thousand ton, shell fish - 12.5 thousand ton.