Russia today has a diversified economy, but its most important sector is the sale of raw materials and primary commodities such as oil, timber, and gold. Russia is well-contended with natural resources and raw materials and ranks among the world's leading producers of petroleum and gas, copper, manganese, bauxite, graphite, uranium, titanium, gold, silver, and platinum. Oil export earnings have allowed Russia to increase its foreign reserves to the third largest reserves in the world. The government of Russia is improving its corporate governance, diversifying the economy, building human capital, and encouraging the growth of small and medium enterprises. Business tenders from Russia are in great demand from electrical machinery and consultancy services.