Russia: Retail Foods
Russian retail sales turnover in 2014 grew by 2.5 percent year-on-year (in comparable prices) while, in value terms, the indicator reached $694 billion. Sales of food, including alcohol and tobacco, accounted for 47 percent of total retail sales in Russia. Grocery retail sales in Russia increased in 2014 as measured in local currency but decrease in dollar terms from $350 billion to $326 billion. Ministry of Economic Development officials forecast retail sales to drop 8.2 percent in 2015. Nevertheless, the grocery sector is one of the least affected sectors by the current economic slowdown in the country which creates opportunities for U.S. suppliers of a wide assortment of food and agricultural products.
