Russia failed to achieve the goals of import substitution of products

Published 2020년 12월 7일

Tridge summary

A study by the National Rating Agency (NRA) has found that Russia has not been able to replace imports of key products with domestic production, despite the government's import substitution strategy. The strategy, introduced in response to Western sanctions, aimed to reduce imports of goods produced domestically. However, the NRA found that only meat imports have seen a significant reduction, with other categories such as dairy, fruits, and vegetables still reliant on imports. These imports have been sourced from countries like Belarus, Chile, and Ecuador, with some evidence suggesting these countries may be re-exporting sub-sanctioned products.

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Original content

Contrary to the hopes of the authorities, Russia was unable to replace supplies of the main categories of imported products due to domestic production, including those prohibited for import under counter-sanctions in August 2014, a study by the National Rating Agency (NRA) showed. Companies from other countries have replaced European suppliers, and, according to experts, in a number of cases it is not about replacing, but about re-exporting the same, mostly European, "banned". In the eight years that have passed since the adoption of the import substitution strategy in Russia, calculated until 2020, only meat imports have been significantly reduced in the food market - by 65%, according to the NRA study. But this is still 2.8 p.p. less than the strategy implies. The document itself mentioned the reduction of imports of goods produced domestically as one of the measures. After the introduction in 2014 of an embargo on products from the European Union and a number of others (meat ...

Source: Fishnet.ru