Novgorod Oblast is noted for its science- and labor-intensive sectors, particularly the chemical and forest industries. The engineering and metalworking, electronics, chemical, forest, woodworking, and pulp and paper industries produce nearly half of the oblast’s marketable commodities.
The chemical industry is the leading economic sector of the oblast, accounting for 31.4% of total industrial output. Products include fertilizers, general rubber goods, synthetic resins, plastics, paints, pharmaceuticals, and household chemicals. Fertilizer companies using both local and imported raw materials produce nitrogen fertilizers (Novgorod Chemical Plant).
The engineering industry accounts for 11%+ of all industrial production. It is characterized by science- and labor-intensive production specializing in the output of sophisticated high-precision machines and equipment, electrical equipment, electronics and radioelectronics, instrument making, and shipbuilding, which developed as a result of the Oblast’s maritime location. Production of equipment for the chemical industry has also been established.
The forestry complex, which includes the forest, woodworking, and pulp and paper industries, produces 10.9% of the Oblast’s industrial goods. Lumber, plywood, and furniture are some of the products of the woodworking industry. Most of the materials for the wood processing industry are supplied from neighboring Oblasts and republics of Northern district.
The development prospects of the forestry complex are tied to high-end timber processing, greater competitiveness of output products, forest regeneration, and improvements in the Oblast’s ecological situation.
Along with specialized sectors, there are others that supplement the economic complex, such as the power industry, which accounts for 16.5% of industrial output. The power industry is represented by low- and medium-power thermal and hydroelectric power plants, including a hydroelectric power plant on the Volkhov River. All the plants are integrated into the Northwestern unified energy system and connected with the unified energy system of European Russia. The metallurgical industry is another supplementary sector. Light industry is represented mainly by the textile, leather shoe, and ceramics industries.
The industrial construction complex has interregional significance. Companies in this sector are located in large and medium-sized cities with access to main highways. They produce reinforced concrete components and structures and other building materials. The glass industry is also well developed in Novgorod Oblast.
Novgorod Oblast’s economic complex is a combination of companies of regional significance (forestry, power) and specialized companies (radio engineering and chemical industries). The largest industrial centers are Veliky Novgorod (specialized machine engineering, electrical and radio engineering, chemical industry, nitrogen fertilizer production, food industry, ship repair yard, and sawmill); Staraya Russa (instrument making and chemical engineering); and Borovichi (ceramics and glass production).
The main specialization of agriculture in the oblast is cattle breeding with meat and milk production. In 2011, approximately 90% of the farms held cattle, and 79% of all agricultural production in the oblast were meat, milk, and eggs. A number of large-scale farms are keeping pigs and poultry. Bee-keeping, as well as cultivating of crops and potatoes, are also present.