On November 3, 1923, Perm Governorate was abolished and its territory was included in the Ural Oblast with its center in Yekaterinburg.

Ural mountains, that crossed governorate from north to south for 640 km was a border between European and Asian parts and split it in two administrative oblasts – Perm to the west, and Yekaterinburg to the east.

The Perm Governorate was one of the main centres of mining, metallurgical and metal-processing industries of the Russian Empire.

In the middle of the 19th century, there were 4 fiscal and 18 private mining districts on the territory of the province, the largest industrial centres were Yekaterinburg and Motovilikha Plants in Perm suburbs.

At the turn of the 19th and 20th centuries, joint-stock companies arose (11 in metallurgy, 12 in gold-platinum), including those with French, Belgian and British capital.

[1] The mining enterprises (mining and production of copper, iron, steel and pig iron, gold, platinum, hard coal and salt) occupied the middle belt of the Governorate on the territory of the Ural mountain range and covered the uyezds centered around towns of Perm, Solikamsk and Cherdyn on the western side of the range, and Verkhoturye, Yekaterinburg, Krasnoufimsk and parts of Kamyshlov and Irbit on the eastern side.

By the beginning of the 20th century, the manufacture of simple agricultural machinery and implements, which were supplied outside the Governorate, had developed considerably.

In the southern districts, significant quantities of wheat, millet and buckwheat were grown, as well as flax for seed production.

For the rural inhabitants of Solikamsky, Cherdynsky and partly Verkhotursky uyezds, hunting, wood felling, shipbuilding and charcoal burning for mining plants were subsidiary occupations.

The economy of governorate was based on industry, however in some parts of region prevailed agriculture sector.

Industry was based by mining, main minerals included copper, iron ore, gold, coal and salt.