The region is located on the Kola Peninsula washed by the Barents Sea and White Sea. The peninsula covers an area of about 144,9 km². Almost all this territory is situated within the Polar circle. The maximum length in the north-south direction is 400 km and in the west east, direction is 500 km.

   The population amounts to 988,5 thousands of people. Urban population is 91,7% and in settlements - 8,3%. Population’s mean age is 33 years.

   The region has various natural resources. More than 60 major deposits of the different types of the mineral raw materials are discovered in the bowels of the Kola peninsula. Almost thirty types of the minerals are extracted here today. The most valuable are: phosphorus, titaniferous iron, aluminium, copper, nickel, zirconium and other rear metal ores. There are considerable resources of the mica, ceramic raw materials, building raw materials, facing stone, semi-precious and ornamental stones.

   Rich oil and gas deposits are discovered on the Barents sea shelf and the world-famous Shtockman gas-condensate field with gas resources of more than 3,0 billion of cubic meters is among them. The development of this unique deposit will let to satisfy a gas demand of all northwest Russia during many years.

   The Murmansk region economics is mainly directed to the natural resources use. In the productive industry, 90% of the surplus product is produced by the industrial enterprises. The region gives 100% of the national production of the apatite concentrate, 12% of the iron-ore concentrate, 14% of the refine copper, 43% of the nickel and 14% of the food products of fish.

   The leading industrial enterprises of the region are:
 - “Kola Mining & Metallurgical Company” (The Severonickel Metallurgical Combine and The Pechenganickel Mining & Metallurgical Combine) in Monchegosk;
 - OJSC “Apatit” in Apatity;
 - Kandalaksha Aluminium Smelter (a member of the United Company Rusal), Olenegorsk;
 - Kovdorsky Mining-and-Processing Integrated Works (GOK) (joined EuroChem Mineral and Chemical Company), Kovdor;
 - OAO Olenegorsk ore mining and processing complex, OAO “OLKON”, Olenegorsk;
 - Kola nuclear power plant, Polyarniye Zori;
 - Joint-Stock Company “Kolenergo”, Kola;
 - Three fishing fleets including JCS “Murmansk trawl fleet”, the largest fleet in this branch of industry.

   The nonferrous metallurgy (38.4%), electroenergetics (13.2%), food industry including fishery (19.3%) and chemical industry (11.9%) lead among the other branches of industry.   The Murmansk region has its own agricultural production, which solves the problem of supply of the northerners with the fresh foodstuffs partly. However the polar region climatic conditions restrict the local agriculture potential a lot.

   The area of the agricultural lands is 23.4 thousand hectares including 12.5 thousand hectares of the sown area. The largest area part is used for the feed crops.

   The region produces 17.8% of the meat, 16.6% of the milk and 8.3% of the vegetables of the total consumption volume of these products respectively.

   The region favorable geographical location and the large-scale industry make possible to develop all kinds of transport and road network on the region territory. The existing surface, air and sea transportation links ensure traditional economic links between the Murmansk region and centre of Russia and create the favorable conditions for extension of cooperation with the foreign countries.

   The totals length of the railway lines in the Murmansk region is 891 km. The large railway junctions are Murmansk, Apatity, Olenegorsk and Kandalaksha. The total length of the motor roads on the territory of the region is 4359 km.

   The Murmansk commercial port is the largest non-freezing port in Russia located beyond the Polar Circle. This is the basic port ensuring the cargo transportation to the Extreme North regions, the Arctic regions and far-abroad countries. The port productive capacity is 12 million cargoes a year.

   The OJSC Murmansk Shipping Company executes the cargo and passenger overseas transport. This company uses the state nuclear-powered icebreakers with the unique capacities all of which are based in Murmansk. Opening of the northern sea route for the foreign ships and the outlooks for the cargo traffic development between the West European ports and the ports of southeastern Asia and Japan can become the important factors increasing the region attractiveness for the potential investors.

   The Murmansk region has 2 large airports: “Murmansk” (situated in Murmashi settlement) and “Khibiny” (in Apatity). The international airlines Murmansk – Kirkenes and Murmansk – Tromsø (Norway), Murmansk – Rovaniemi (Finland) – Luleå (Sweden) are pass through the Murmansk airport. There is intention to create an international transport air junction soon on the basis of the Murmansk airline company.

   The Murmansk region is among the 20 entities of the Russian Federation, the largest exporters of the marketable products. The transition to the market economy made it possible for the enterprises of the region to use actively their possibilities provided by the world market.