HomeMediaLatest NewsRussia will maintain a high share of imports in non-food retail – forecast

Russia will maintain a high share of imports in non-food retail – forecast

17 November 2021

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, Director of the Center for Economic Expertise of the ISMU HSE, made a forecast to REGNUM regarding the share of imports in consumer non-food products in Russia.

Even in the context of a targeted policy of import substitution in Russia, the share of imports in consumer segments remained fairly stable,- Marcel Salikhov told a REGNUM correspondent.

“The shock of 2020 did not have a significant impact either. Therefore, I believe that the share of imports in consumer non-food products will remain close to the current values ​​(about 75% - the REGNUM news agency's comment), Salikhov said. - A high share of imports in retail is generally characteristic of economically developed countries. As a rule, the possibilities of import substitution in the production of complex consumer goods are limited. In these conditions, government policy to support these sectors should be aimed at facilitating access to international markets and stimulating exports."

As Salikhov explained, for Russian manufacturers, the domestic market has growth boundaries, while the global market has practically no such boundaries.
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