The Magadan Region is located in the north-east of the Russian Federation — the easternmost and most remote part of the country from the center of Russia, and is part of the Far Eastern Federal District.
The production of the gross regional product (GRP) is one of the main macroeconomic indicators in assessing the state of economic development of the region:
— in 2018. GRP amounted to 170,723. 4 million rubles (at current prices), GRP per capita amounted to 1,196,690.1 rubles (at current prices).
The dominant economic activities of the region are:
The strategy of socio-economic development of the Magadan Region until 2030 was adopted in 2020. The main goals of the socio-economic development of the Magadan region for the period up to 2030 are to ensure the accelerated sustainable economic development of the region, the preservation and development of human capital.
Ensuring the accelerated sustainable economic development of the region is based on solving such tasks as:
The priority sectoral directions of economic development of the Magadan region are the following: