RUB 3.1 trillion amounted to timber production in 2023
At the end of 2023, production volumes in the timber industry amounted to about 3.1 trillion rubles. This was announced by Deputy Prime Minister, Minister of Industry and Trade Denis Manturov.
Denis Manturov, Deputy Prime Minister of the Government of the Russian Federation, Head of the Ministry of Industry and Trade of the Russian Federation: “In terms of production volumes last year, the forest industry almost reached the pre-sanction level - over 3.1 trillion rubles, and primarily due to growth demand within the country. The most rapid recovery was achieved in such segments as the production of wooden houses, furniture, and various slab products. Import substitution also played a major role in those niches where previously there was a significant share of foreign products. After the departure of foreign suppliers of packaging for milk and liquid food products, domestic enterprises quickly launched their production. This made it possible to cover the needs of this segment by almost 70%. And in terms of sanitary and hygienic products, we now almost completely satisfy consumer requests.”.
As noted in the Ministry of Industry and Trade, support for capacity expansion projects continues. Thus, over the past two years, 26 priority investment projects in the field of forest development have been initiated for a total of 125 billion rubles. Thus, despite external restrictions, the forest industry remains attractive to investors.
At the moment, the industry is restoring export volumes and focusing on friendly countries in the CIS, EAEU and BRICS. In addition to them, there is a willingness to provide financial regulatory support to increase its share in the growing markets of Asia and Africa.