Textile Industry in russia

TEXTILE BUSINESS MARKETS IN RUSSIA

The textile industry in Russia is third largest contributor to GDP after Food and Beverages industry. The Russian textile industry heavily manufactures technical textiles rather than the commercial apparels and garments that of denims and casual wear apparels. The Russian textile industry relies heavily on the foreign investors rather than the native investors. Almost 80% of the textile market is controlled by foreign investors and 20% by the Russian investors. In order to satisfy its domestic demands, texpreneurs from Russia have opted for the potential markets that can cater to the ever growing domestic demands of the nation.

textile industries in russia

DEVELOPMENT IN RECENT YEARS

During 1970's the Russian textile industry was at its peak. The neighboring nations had raw materials in abundance which was ultimately beneficial to Russian textile industry. The government had liberalized the norms for import of the raw material which proved to be beneficial to the exporting nations and to the textile industry as well. But following the disintegration of USSR the textile industry also suffered a major blow due to the dispersion of resources. Yet Russia remains one of the largest importers of the fashion apparels and garments in the world. The reach of Russia in global market is through technical textiles and medical textiles. The machinery is advanced and it is in state-of-art technology. At present there are more than 350,000 people employed in the textile sector in Russia.

PRESENT DAY SCENARIO

At present the Russian market imports its products from china on large scale but due to rise in the production costs of china, the emerging markets like India, Vietnam and Bangladesh have been favored over china. The Chinese hegemony has been challenged and the other South East Asian markets have grown to explore the vast and potential Russian market as the other EU nations also have taken complete advantage of this void.

Here at textile infomedia we provide you with the list of all importers, manufacturers and suppliers of textile products which shall help the user to explore the Russian textile industry and further help him conduct the business in seamless and efficient way.

russia textile Business and Market