The volume of the Russian market for illegal products has reached 5 trillion rubles. This represents 10% of the entire retail market in the Russian Federation, five times more than the world average. Most illegal products are represented in tobacco products, clothing and cosmetics.
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In 2023, the market volume of products sold illegally in the Russian Federation will reach 5 trillion rubles. This represents 10.1% of the country’s total retail market volume, five times more than the world average, RBC reported citing research results.
Tobacco products, clothing, cosmetics and perfumes account for 17% of illegal retail trade. The largest budget losses were recorded in the tobacco industry: the state lost 123.7 billion rubles in money lost due to excise taxes. In total, at the end of 2023 the budget received a deficit of 979 billion rubles.
Experts cited high inflation, the development of markets and the legalization of parallel imports as the main reasons for the growth in the volume of illegal products. About 37% of the market for illegal products comes from the market, analysts estimate.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
