Why Devaluation of the Russian ruble exchange rate decline in clothing imports

Core Tips: Many Russian and foreign retail networks suffer financial loss, not only because of exchange rate differences, but also because of declining purchasing power of the Russian people. Over the past four years to reduce imports of Russian clothing. In 2011 Russia imported clothing 29,15 million tons in 2015 imports fell to 192,000 tons.

July 28, Russian Business Consulting Web site reported that the Russian clothing retail chain 2016 latest research shows that over the past four years to reduce imports of Russian clothing. In 2011 Russia imported clothing 29,15 million tons in 2015 imports fell to 192,000 tons.
Apparel imports decreased demand reduction legend, not domestic production of rapid development. Import substitution light industry needs to be carried out step by step, and take several years. Causes rapid reduction in apparel imports that the sharp depreciation of the ruble led to suspend imports of clothing. Many Russian and foreign retail networks suffer financial loss, not only because of exchange rate differences, but also because of declining purchasing power of the Russian people.
Since the devaluation of the ruble, Russia imported from outside the spinning rising prices. Therefore, the ruble exchange rate depreciation also led to the use of foreign materials and garment Russian company costs rise.
At present, Russia produced 4.542 billion square meters of fabric, including wool 9.3 million square meters, 237 million square meters of synthetic fibers, as well as 1.176 billion square meters of cotton fabric. Nevertheless, the fabric of Russian imports of certain types of quite large. 2015 Russia imported 109,100 tons of knitwear, 193,700 tons of chemical fibers.