The Dependence of Russian Manufacturing on Imports and the Strategy of Import Substitution

Abstract

In Russia, the increase of domestic demand is slow, and import substitution is intended to become the driver of economic growth in the near future. The task of replacing foreign imports with domestic equivalents will in large part be determined by the Russian economy’s dependence on imports. This article analyzes the possibilities and direction of strategic import substitution in lessening Russia’s dependence on imports.

Keywords:

• import substitution
• import dependence
• growth potential of manufacturing