In the first quarter of 2024, the turnover of the Moscow manufacturing industry increased by one and a half times compared to January-March 2023. Manufacturers of high-tech products, such as computers, electronic, and optical products, contributed almost a quarter of this volume, totaling 420 billion rubles.
“The manufacturing industry is one of the fastest growing sectors of the capital’s economy due to the active development of production and increased import substitution,” said department head Maria Bagreeva.
Food industry, pharmaceutical industry, and machinery and equipment production account for a significant share in the turnover of manufacturing companies. Moscow contributes almost 11% to the manufacturing industry’s turnover, excluding oil and gas. The production of medicines and medical products in the city increased by 1.4 times at the end of 2023 compared to 2022. Moscow City Hall supports the capital’s industries, including the pharmaceutical sector, and has signed offset contracts expected to begin deliveries in 2025-2026.