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Press release content from Newswire. The AP news staff was not involved in its creation.
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Press release content from Newswire. The AP news staff was not involved in its creation.

Moscow’s Exports of Lighting Equipment Up 84% in 2021

November 17, 2021 GMT

MOSCOW - November 17, 2021 - ( Newswire.com )

Moscow is the main Russian exporter of lighting equipment, accounting for 37.6% of Russian exports in January-June 2021. This is up from the 21.8% of Russia’s lighting equipment that the capital exported in the first half of last year. Top buyers in 2021 were Kazakhstan, Belarus, South Korea, China, the Philippines, Germany, Ireland, and Bulgaria. Interestingly, Ireland and Bulgaria are both among the world’s top 10 importers of lighting equipment.

Specialists at the Mosprom Center see the European Union as one of the most promising regions for local exporters of lighting equipment.

“Local companies saw significantly higher orders from EU buyers, with exports up 75.5% from the first half of 2020 and up 79.5% from the same period of 2019,” said Alexander Prokhorov, head of Moscow’s department of investment and industrial policy.

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Data from the first half of this year shows that Moscow-based companies exported lighting equipment to 81 countries, against 76 foreign markets in 2019 and 74 in 2020.

Mosprom analysts see semiconductors and lighting equipment, parts for lighting equipment, lighted signs, and suspended indoor lighting fixtures as the most promising categories where local companies can expand their exports.

The Mosprom Center, a branch of Moscow’s department of investment and industrial policy, provides personalized support for local industrial and agribusiness exporters.

The experts at the Center analyze target markets for the capital’s manufacturers. Its specialists study macroeconomic reports for each target market, as well as its risk profile, including barriers to entry, the state of the industry in the target market, its dependence on exports and imports, and SWOT analyses of consumer demand. The Center’s experts also perform individual analyses for the companies they work with in order to determine the most effective strategy for entering foreign markets.

In addition, as part of its buyer program, the Center’s experts help local companies find partners and negotiate with potential buyers abroad. They also help exporters participate in international trade shows and business missions. All of this assistance is provided free of charge.

Press Release Service by Newswire.com

Original Source: Moscow’s Exports of Lighting Equipment Up 84% in 2021