Since Western countries launched wave after wave of sanctions on Russia, many companies have begun to withdraw from the Russian market. At this time, Russian local goods have successfully saved the situation, and China and Turkey 's share in the Russian market is also increasing.
doesn’t want to lose anymore! Western companies "verbally" leave Russia
Relevant data shows that from March to July this year, 3,000 foreign institutions have suspended their business activities in Russia, and 527 foreign companies have been cancelled.
Although there are many companies that seem to have withdrawn from the Russian market, according to media reports, Western companies still exist in the Russian market. It is understood that so far there are more than 1149 international companies still staying in Russia, and only 106 companies that have completely withdrawn from the Russian market.
Although it is a large enterprise like Adidas, although it announced early that it had closed its business in Russia and reselled its assets to withdraw, its products can still be purchased in other Russian stores. Not only that, some companies even just closed their stores, but the goods are still there, and they still pay the rental fee to the mall.
(Source: Zitu.com)
For the state of Western companies' "saying to leave but not completely leaving", some professionals believe that these companies have made huge profits in the Russian market, and are now "willing to leave" and are looking forward to reopening in the later period.
only takes Adidas as an example. It is reported that Adidas has about 6 stores in Russia, 500html, but due to the conflict between Russia and Ukraine, its sales in Russia fell by 600 million euros (approximately 600 million US dollars). In addition, relevant institutions have also recorded that global companies’ business losses in Russia in February will be nearly US$60 billion, and there will be more economic losses in the future with sanctions.
Due to sanctions, Western companies "had to withdraw" from the Russian market, but they probably calculated their losses in Russia, so they changed their lives and found ways to "survive" in the Russian market.
But these companies probably did not expect that after their "pretending to withdraw", Russia's "domestic products" actually supported "half a piece of the sky", and its share in Russia was also handed over to China and Türkiye.
Russian "domestic product" is on the stage, will China and Türkiye take over?
After Western "unfriendly countries or regions" enterprises withdraw from the Russian market, as of June this year, sales of the largest e-commerce retail platform in Russia rose, with clothing and footwear increasing by 81% year-on-year. not only that, but also attracted more than 650,000 Russian companies to settle in. In just one week in June, the "Made in Russia" zone specially set up by the platform reached 33400 million rubles (approximately 5300 million rubles (about 5300 million US dollars).
Compared with the past, the achievements and status of Russia's "domestic products" have been further improved. At the same time, China and Türkiye also occupy the market share of some Western companies after they exit.
(Source: Zitu.com)
In terms of the development of Chinese automobiles in Russia, although the performance of the Russian automobile market in recent years has not been so ideal, China's automobile market share in its market has been growing steadily, increasing by 7% at the beginning of this year alone. . By this year's 8html June, Chinese brand cars surpassed Korean cars, which accounted for 25.9% of in the Russian market, with a share of 21.2% of .
On the other hand, unlike other countries that restrict Russia, Türkiye has increased its trade with Russia, and its trade volume with Russia has surged. 8html June data showed that the monthly average number of vehicles traded between Turkey and Russia increased by 58% , and in the first half of 2022, and Türkiye's exports to Russia reached the highest level in eight years 29.100 million US dollars.
(Source: Zitu.com)
Compared with the "prosperity" of Chinese, Türkiye and Russian domestic products in the Russian market, Western companies seem particularly "miserable". professionals analyzed that since Russia is still under sanctions, even if Western companies are preparing for returning to Russia, or even some companies have successfully returned to the Russian market, their status and share will be much worse than before.
text | Wei Yansong Title | Huang Zixin Review | Zeng Yi
