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Russian Manufacturers are Looking for Alternative Suppliers, Due to the Coronavirus Epidemic in China
4.03.2020 12:11
Russian Manufacturers are Looking for Alternative Suppliers, Due to the Coronavirus Epidemic in China

Russian manufacturers of light industry goods began to look for alternative suppliers, due to the coronavirus epidemic in China. If Russian companies have to reorient themselves, this may lead to price inflation by 20 percent. As a substitute for Chinese goods, they consider counterparties from Turkey, Italy and several Asian countries.

      China is one of the leading suppliers of raw materials and semi-finished products for the Russian light industry, besides, it is also the main importer of finished products. Last year, China accounted for 36.5 percent of textile imported into Russia, whereas domestic products accounted for 34 percent of the market.

      An outbreak of previously unknown coronavirus provoking deathful pneumonia occurred in China at the end of 2019. As of February 11, the number of deaths due to the virus exceeded one thousand people. More than 42.5 thousand people were infected on the territory of China.

Author: Anna Dorozhkina

Tags: coronavirus Russian business    

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