Statistical Study of Socio-Economic Development of the Region

The relevance of the study of the socio-economic development of the region is due to the need for an adequate understanding and analysis of current trends and problems in this area in order to make management decisions. In the context of a dynamically changing macroeconomic situation, significant interregional differences and uneven distribution of resources, conducting statistical analysis makes it possible to identify key factors affecting the development of the region, assess the effectiveness of existing measures and develop strategic recommendations to improve socio-economic indicators. The purpose of the study is to indentify key factors influencing the socio-economic development of the region. Materials and methods. The following statistical methods were used in the work: analysis of statistical data, comparative analysis, calculation of absolute and relative indicators, graphical method, variation analysis, structure analysis, study of time series and forecasting. The sources of information were the official data of the Federal State Statistics Service and the Ministry of Finance of the Chuvash Republic. Study results. The article analyzes the socio-economic indicators of the Chuvash Republic for 2012–2022. It is noted that the economy of the Chuvash Republic is significantly susceptible to the crisis comparing to other regions of the Volga Federal District, and there is also a decrease in real disposable cash income of the population and real accrued wages. An analysis of the variation in the industrial production index shows that the regions of the Volga Federal District are homogeneous in terms of the industrial production index, but the spread of this indicator in 2014–2015 and 2020–2022 increased, which indicates differences between regions in the possibilities of economic recovery from the consequences of the crisis. An analysis of the dynamics and structure of investments in fixed capital of the Chuvash Republic shows that the structure of funds raised is dominated by federal budget funds and funds received from equity participation in construction. The Chuvash Republic is a part of the group of regions with a low value of the ratio of investment in fixed capital and GRP. This is due to the absence of major manufacturing enterprises in the region, and, as a result, the region has low investment attractiveness. Conclusions. The formation of industrial clusters can contribute to the development of economic sectors which are the drivers of the region and increasing their competitiveness. Measures of state support to create an industrial cluster are proposed. They will contribute to economic growth and help attract investments in fixed capital of the Chuvash Republic.