The Federal State Statistics Service (hereinafter “Rosstat”) has published data on the Russian companies’ turnover for January-June 2020. Obviously, the impact of the crisis caused by COVID-19 pandemic and restrictions was different for companies and depended on the industry they are engaged in. The highest losses are recorded for transport and servicing companies, and mining industry.
For example, turnover of the railway passenger transportation reduced by 61,7% compared to the same period of 2019; airlines’ figures decreased by 43,6%, hotels’ – by 36,4%, and turnover of companies engaged in crude oil and gas extraction fell by 29,3%.
At the same time, pharmaceutical companies have doubled their turnover. IT and tobacco companies have 30% increase, and over 21% increase was recorded for post and courier services.
These figures prove the specific character of the current economic situation within the country and abroad (see Table 1).
|Activity||Activity code (OKVED2)||Turnover for January-June 2019, billion RUB||Turnover for January-June 2020, billion RUB||Increase / decrease in turnover %|
|Manufacture of medicines and materials||21||324||483||49,1|
|Manufacture of tobacco products||12||122||158||30,2|
|Post and courier services||53||126||153||21,6|
|Manufacture of textiles||13||133||153||14,7|
|Construction||F||3 452||3 933||13,9|
|Production and distribution of steam and hot water||35.3||752||854||13,6|
|Activities of water transport||50||133||149||12,4|
|Metallurgical production||24||3 733||4 143||11,0|
|Manufacture of clothes||14||136||150||10,3|
|Food production||10||3 133||3 444||9,9|
|Manufacture of rubber and plastic products||22||631||693||9,8|
|Fishing and fish farming||03||190||207||9,1|
|Wholesale||46||28 646||31 147||8,7|
|Water supply; drainage, collection and disposal of waste||E||654||708||8,2|
|Plant growing and animal husbandry||01||1 458||1 571||7,8|
|Mining of metal ores||07||852||911||7,0|
|Forestry and logging||02||136||145||6,7|
|Activities in the field of telecommunications||61||1 142||1 207||5,7|
|Retail trade||47||10 009||10 512||5,0|
|Real estate operations||L||1 587||1 664||4,9|
|Activities of the freight road transport||49.4||670||695||3,7|
|Manufacture of machinery and equipment||28||739||764||3,4|
|Manufacture of electrical equipment||27||570||589||3,2|
|Manufacture of other non-metallic mineral products||23||925||945||2,2|
|Warehousing and auxiliary transport activities||52||2 190||2 233||2,0|
|Activities in the field of healthcare and social services||Q||1 625||1 657||1,9|
|Wood processing and manufacture of wood products||16||370||377||1,9|
|Manufacture of finished metal products, except for machinery and equipment||25||1 265||1 285||1,6|
|Rail transport: cargo transportation||49.2||1 245||1 258||1,1|
|Production, transmission and distribution of electricity||35.1||4 128||4 146||0,4|
|Manufacture of chemicals and chemical products||20||1 812||1 786||-1,4|
|Manufacture of other vehicles and equipment||30||900||884||-1,8|
|Wholesale and retail trade with motor vehicles||45||3 779||3 709||-1,9|
|Pipeline transport activities||49.5||1 672||1 618||-3,3|
|Manufacture of paper and paper products||17||599||566||-5,5|
|Manufacture of other finished goods||32||132||124||-6,5|
|Production of beverages||11||531||493||-7,1|
|Activities in the field of culture, sports, leisure and entertainment||R||156||142||-8,6|
|Production and distribution of gaseous fuels||35.2||881||804||-8,7|
|Administrative activities and related additional services||N||986||893||-9,5|
|Computer software development||62||717||646||-9,9|
|Professional, scientific and technical activities||M||2 750||2 446||-11,0|
|Manufacture of computers, electronic and optical products||26||643||565||-12,2|
|Manufacture of leather and leather products||15||44||37||-17,0|
|Manufacture of motor vehicles, trailers and semi-trailers||29||1 578||1 306||-17,2|
|Food and beverage provision activities||56||600||496||-17,3|
|Activities of other land passenger transport||49.3||275||220||-20,1|
|Extraction of other minerals||08||330||258||-21,6|
|Production of coke and petroleum products||19||7 580||5 661||-25,3|
|Extraction of crude oil and natural gas||06||7 327||5 178||-29,3|
|Provision of temporary accommodation||55||156||99||-36,4|
|Air and space transport activities||51||855||482||-43,6|
|Rail transport: intercity and international passenger transportation||49.1||196||75||-61,7|
Source: Rosstat, calculations by Credinform
Turnover includes the cost of self-produced shipped goods, self-performed works and services, as well as revenue from the sale of acquired goods (excluding value added tax, excise taxes and other similar payments).
The data of current statistics are formed for the full range of enterprises, based on information from the unified form of federal statistical observation No. P-1 "Information on the production and shipment of goods and services".
Federal statistical observation form No. P-1 is provided by all legal entities that are commercial organizations, as well as non-commercial organizations of all forms of ownership that manufacture goods and services for sale to other legal entities and individuals (except for small businesses, banks, insurance and other financial and credit institutions), the average number of employees of which for the previous year exceeds 15 people, including those working part-time and under civil law contracts.
The Federal Law No. 302-FL of July 31, 2020 introduced significant amendments to the law "On credit histories". They are aimed at a comprehensive modernization of the existing system for the building up credit histories.
In particular, the amendments concerned the focus of the law. Now the goals of the law are:
- strengthening the protection of creditors and borrowers, as a result of an overall reduction in credit risks;
- improving the efficiency of providing and returning borrowed funds;
- creation and definition of conditions for the collection, processing, storage and submission of information to the credit histories bureaus of information characterizing the timeliness of fulfillment of obligations.
The following authorities may cooperate with the credit histories bureaus:
- courts on cases in their proceedings;
- federal executive authorities;
- arbitration managers.
The amendments introduced qualified credit histories bureaus, which are authorized to calculate the total debt or payment burden of citizens.
To improve the reliability and quality of data used to calculate the debt burden, the law provides for the exchange of information between qualified and other credit histories bureaus, as well as between credit histories bureaus and creditors.
Significant amendments were made to the provisions on the composition of information included in the credit history.
Now, the main part of the credit history of individuals should contain the following information concerning the subjects of credit history:
- place of registration and actual place of residence;
- phone number (including mobile);
- e-mail addresses, if provided by subjects of credit history;
- information on state registration of individuals as individual entrepreneurs;
- information about the procedures for insolvency (bankruptcy) of individuals, if the arbitration court has accepted an application for recognition as insolvent (bankrupt);
- information about illegal actions of individuals in insolvency (bankruptcy);
- information on deliberate or fictitious bankruptcy, with the link and date on the inclusion of information in the Unified Federal Register of Bankruptcy Information.
In addition, a new list of information has been formed regarding the obligations of borrowers, guarantors, principals and lessees.
Thuswise, the list of transactions for which information should be sent to the credit histories bureau, as well as the list of sources for building up credit histories, has been clarified.
The law also expands the supervisory powers of the Central Bank of the Russian Federation in relation to credit histories bureaus.
According to the information of the Central Bank of the Russian Federation, as of September 25, 2020, the State Register of Credit Histories Bureau contains information about 9 credit histories bureaus. Information on bureaus is available for the subscribers of the Information and Analytical system Globas.