Manufacturing Industries of Russia: Sanctions, Import Substitution

Abstract

The article analyzes the current state of the manufacturing industries in Russia under the conditions of sanctions that caused the problem of import substitution. The indicators of the state and development of the manufacturing industries, characterizing the scale and quality of production, indicators of production factors (labor and capital) and foreign trade activities were analyzed. The results of import substitution as a policy of increasing the competitiveness of Russian products with a view to bringing them to the world market are briefly discussed. It is concluded that, although the state officially set about creating a digital economy and a breakthrough in the export of high-tech and high-tech products, in reality, the technical and technological development of the country in terms of import substitution did not accelerate. The analysis can be regarded as a kind of monitoring of economic reforms in Russia, caused by sanctions and import substitution.