08.11.2024

The turnover of Moscow's manufacturing industries grew by almost 22% in nine months

The turnover of the capital's manufacturing industries (excluding the oil sector) in January-September reached 5.2 trln rubles. It increased in comparable prices by 21.7% compared to the same period of 2023. This was reported by Maria Bagreeva, Deputy Mayor of Moscow, head of the Department of Economic Policy and Development of the city.

“The manufacturing industry is one of the drivers of Moscow's economy. The growing manufacturing sector is a source of innovation activity in the city, creates highly skilled jobs, and generates a steady demand for business services. In the first nine months of 2024, the industry's turnover, excluding the oil and gas sector, reached 5.2 trillion rubles, exceeding the same period last year in comparable prices by almost 22%. About 17% of this volume — 853.7 bn rubles — were provided by manufacturers of high-tech products: optics, electronics, high-precision devices”, — said the Deputy Mayor.

Moscow accounts for about 10% of the turnover of the country's manufacturing industry, excluding the oil and gas sector.

The food industry (582.2 bn rubles, or 11.2%) and pharmaceutical production (403.2 bn rubles, or 7.8%) occupy a significant share in the sectoral turnover.

The leaders of growth at the end of three quarters were high-tech industries: their turnover increased 2.4 times compared to January-September last year. Manufacturers of rubber and plastic products increased revenue by 64.1% (up to 217.6 bn rubles), manufacturers of machinery and equipment - by 62.9% (up to 264.4 bn rubles). In addition, high performance was demonstrated by enterprises of the furniture industry, whose turnover increased by 43.4% (up to 28 bn rubles), and pharmaceutical companies, which showed growth of 38.7%.

Small businesses make a big contribution. The turnover of these companies exceeded 1.4 trln rubles in nine months, increased by 61% compared to the same period of 2023. Such companies account for 28% of the industry's turnover, increasing by almost seven percentage points over the year.

“The sustainable development of the industrial sector in Moscow is facilitated by effective support tools that have been developed under the leadership of Sergei Sobyanin. Thus, according to the results of three quarters of 2024, the index of industrial production in the capital increased by 14.2% compared to the same period of 2023. In many respects it was provided by the enterprises of manufacturing industries - they increased the output by 15%. In particular, the city began to produce more consumer goods: clothes, footwear, food, cosmetics and other demanded products”, - said the Deputy Mayor of Moscow on transport and industry Maxim Liksutov.

The capital realizes a set of measures aimed at increasing the investment attractiveness of the city for domestic industrialists and the development of production. As Sergey Sobyanin stated earlier, next year it is planned to direct financial support of the economy in the form of subsidies and grants 23,9 bn rubles from the city budget, another 60,7 bn rubles will be provided for creation of infrastructure for placement of new productions.