Number of imported goods in Russia reaches historic low
NewsRussiaUncategorized
By Inessa S Last updated Feb 19, 2018
September 19 , 2017 – Fort Russ News –
Izvestia – translated by Inessa Sinchougova
The share of imported goods in Russian stores decreased again according results of the second yearly quarter, updating the historical minimum. The trend was found by Rosstat agency. Officials explain the success of import substitution with the development of domestic production and the transfer of the capacities of foreign companies to Russia.
The share of imported consumer goods in the commodity resources of retail trade in the II quarter of this year was 33%, the share of food products of foreign production – 21%. According to the agency, this is a record low share of imports for the whole history of measurement of the indicator – since 2005. Then, the share of imported goods on the shelves was 45%, of imported food – 36%.
In the II quarter of last year, the share of foreign goods in trade was 36%. In the same period in 2015, the indicator was 34%, in 2014 – 41%.
– An important factor is that international corporations invest in production in Russia. Thus, the goods of the concerns are transferred from the category of imports into the category produced in our country. This is beneficial both for the economy of the country and for producers.
The main factor in reducing the share of imports of consumer goods in the Ministry of Industry and Trade was import substitution in the sphere of food products, where the share of imports is the least.
These are the consequences of special economic measures taken by Russia in response to the sanctions of Western countries.
The Ministry of Agriculture noted that in recent years the Russian production of a number of food products has significantly increased – this allowed producers to increase their market share. The most successful is the substitution of imported vegetables.
In 2015-2016, 326 hectares of new greenhouses were built, plus 40 hectares was modernized. As a result, in 2016 Russia collected 814 thousand tons of greenhouse vegetables, 18% more than the volume of 2014 (691 thousand tons). By 2020, Russia intends to build another 1.8 thousand hectares of greenhouses, which will fully cover domestic needs, – said in the Ministry of Agriculture.
The department also noted that, according to the Federal Customs Service of Russia, the import of vegetables in Russia fell more than twofold and in 2016 and amounted to 1.1 million tons against 2.4 million tons in 2014.
The decrease in the share of imports on the shelves is confirmed by retailers.
EconomyimportsproductionSanctions
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Inessa S is an Editor, Journalist and Translator at FRN. She was educated in the field of Political Science and has previous marketing and communications strategy experience for enterprises and corporations. She runs a popular YouTube channel for translations of key Russian Foreign Policy figures and appears regularly on other alternative media channels. If you like her work, you can support her Patreon here.
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