During the Soviet period, when the country had a centrally planned economy, Saint Petersburg's major enterprises were all owned and controlled by the state. When the Soviet Union collapsed in 1991, many of these enterprises began to privatize. Converting the city's inefficient operations into potentially profitable businesses has been a lengthy and expensive process, especially since Saint Petersburg had an outdated industrial base at the time the Soviet Union dissolved. However, as a major port and industrial center, Saint Petersburg's role in the national economy has increased significantly since Russia lost the use of the ports of the Baltic states, which had been part of the Soviet Union.
Saint Petersburg is a leading producer of modern heavy machinery, including turbines, turbo-generators, tractors, excavators, and nuclear-powered equipment. Among its other industrial products are electrical equipment, chemicals, pharmaceuticals, textiles, tobacco, furniture, and paper. Saint Petersburg also has a major shipbuilding industry that produces tankers, fish-processing ships, and icebreakers.
Microsoft® Encarta® Online Encyclopedia 2001
http://encarta.msn.com © 1997-2001 Microsoft Corporation. All rights reserved. Saint Petersburg Information info
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