The Ministry of Industry and Trade estimated parallel imports by the end of 2022 at $20 billion

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The Ministry of Industry and Trade estimated parallel imports by the end of 2022 at $20 billion
The Ministry of Industry and Trade estimated parallel imports by the end of 2022 at $20 billion
19 September, 08:58Economy
Vice Minister, Head of the Ministry of Industry and Trade Denis Manturov announced the expectation of the volume of parallel imports in the country at the end of this year at the level of $20 billion, although earlier the department predicted $16 billion.

Within a month, the figure rose from $6.4 billion to $9.4 billion.

"According to the Federal Customs Service of Russia, in the three and a half months of the mechanism's operation (since May 17), almost $9.4 billion worth of goods were imported ($3.1 billion in August alone). Therefore, we have already slightly adjusted the forecast and at the end of the year we now expect the import of goods for parallel imports in the amount of at least $ 20 billion", - Izvestia quotes Manturov as saying.

Manturov did not say about the prospects for parallel import mechanisms in 2023, but specified that the ministry allows a number of brands to be excluded from the list of parallel imports. We are talking about those brands that have already returned to the Russian market.

In mid-September, the FCS announced a monthly increase in the volume of parallel imports by 18% in physical terms and by 20% in value terms. In 2022, there is no growth in the volume of counterfeit imports.

The list of goods subject to the mechanism of parallel imports in the Russian Federation is edited by the Ministry of Industry and Trade, and is also constantly adapted to the needs of the Russian market in the face of sanctions and restrictions on supplies from unfriendly countries.

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