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indicators even higher.
To remind, following the fallout from the full-scale military invasion of Ukraine, over 50 major international fashion brands, including Inditex, H&M, Uniqlo, left the Russian market.
While in 2022 retail sales of clothing and footwear decreased by 10.3% to RUB2.6 trillion, in 2023 fashion retail sales recovered by 11.5% to RUB2.9 trillion, according to Infoline-Analytics.
According to a survey by FCG and Fashion Factory School, 43% of Russian companies did not notice a significant impact on their business from the departure of international players, while another 45% reported a positive impact on small local brands.
Analysts surveyed by Kommersant believe that the fashion market could continue double-digit growth in 2024, despite facing pressure on margins due to higher logistics costs, high exchange rates and inflation.
9.1.6 Agriculture sector news
121 RUSSIA Country Report February 2024 www.intellinews.com
Putin admits that Russia sets world records for grain export at expense of occupied territories, Ukrayinska Pravda reports on January 16. In 2023, Russia exported at least 4mn tonnes of grain from the occupied territories after the start of the full-scale invasion. Putin claims that in