Russia's Industry and Trade Ministry expects manufacturing of domestic electronics to grow 33% to 3.5 trln rubles in 2024
SOCHI. Sept 24 (Interfax) - The volume of domestic electronics manufacturing in Russia should rise 33% year-on-year to perhaps over 3.5 trillion rubles in 2024 from 2.63 trillion rubles in 2023, and it currently exceeds the production plan of 2.8 trillion rubles for the year, as set in the industry strategy, Deputy Industry and Trade Minister Vasily Shpak said at the Microelectronics forum.
"Electronics, including components and equipment, totaling 2.6 trillion rubles were manufactured in Russia in 2023. We had projected 2.8 trillion rubles for the current year, though the results for seven months suggest that there are all the prerequisites to exceed the 3.5 trillion ruble mark, meaning to rise 33% year-on-year," Shpak said on Tuesday.
The ministry's presentation indicates that electronics totaling 1.51 trillion rubles were manufactured in Russia in January-July.
The registry of radio-electronics has expanded from more than 18,000 items at the end of 2023 to 27,000 items today, Shpak said.
Shpak recalled that the volume of production in the industry should increase to 6.3 trillion rubles by 2030 as per the approved 2020 strategy to develop the radio-electronics industry, by which time Russia should provide at least 70% of the types of electronics through domestic products.
Shpak also mentioned data on the production of auto electronics. "2024 is already ending, and there are absolutely accurate forecasts that the sales volume will reach 180 billion rubles for the year," he said. "Overall, the automotive electronics market has become a significant market, and we have practically crossed the 70% mark today in terms of the items on board a car manufactured in Russia," Shpak noted.