Analysts have announced that the goals of import substitution of products have not been achieved in Russia

Published Dec 8, 2020

Tridge summary

A study by the National Rating Agency (NRA) of Russia reveals that the country's import substitution strategy, initiated in 2012, has only partially succeeded in reducing reliance on foreign products. The strategy aimed to decrease imports of dairy products, fruits, and vegetables by 30%, 20%, and 70.3% respectively by 2020, but the actual reduction was significantly less. The only category that saw a substantial decrease in imports was meat, by 65%. The NRA also highlighted that third countries are likely re-exporting sanctioned products to Russia, as 30% of imported products were previously banned from the EU.

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Original content

Russia was unable to replace supplies of the main categories of foreign products at the expense of domestic production, it was possible to do only partially, the Kommersant newspaper reports, citing a study by the National Rating Agency (NRA). Thus, according to the NRA, since the adoption of the import substitution strategy in 2012, only meat imports have been significantly reduced in the food market - by 65%, but this is by 2.8 percentage points. less than the strategy. The NRA noted that the export of dairy products by the end of 2020 decreased by 20% instead of the 30% declared in the strategy, and of fruits and vegetables - by 11% instead of the planned 20%. In addition, the strategy provided that by 2020 the import of vegetables will decrease by 70.3%, while in fact the decrease was 27%. As the head of the National Meat Association Sergei Yushin notes, if in the 2000s Russia imported 2.5-3 million tons of meat and offal, then in 2020 - less than 600 thousand tons. In ...

Source: Kvedomosti