Impact of import substitution policy on the Russian agro-industrial complex

This article describes the development of the Russian Federation’s (hereinafter referred to as RF, Russia) agro-industrial complex during the implementation of import substitution policies. These policies are essential to ensuring the country’s food security. The state support provided to Russia’s agro-industrial complex is aimed at enhancing its investment attractiveness through subsidies and preferential lending, developing rural areas, and modernising the production capacities of food goods. The aim of this study is to analyse the outcomes of import substitution policies in Russia’s agro-industrial complex. Key indicators of the country’s food security have been identified. The extent to which sanctions against Russia have impacted the policies and implementation of state programmes in the area of import substitution for the agro-industrial complex has been examined. The volume of imported value-added in the gross volume of imports as well as foreign value-added in the gross exports of agriculture, forestry, and fisheries in Russia has been analysed. The prospects for maintaining the current import substitution policies in the agro-industrial complex have also been determined. In the RF, there is a stable trend of growth in agricultural production and export volumes combined with a reduction in the influence of foreign goods and raw materials with high added value. These results have been achieved through state and private investments in the production capacities of the Russian agro-industrial complex, partial mitigation of sectoral technological sanctions, introduction of trade barriers, and creation of large regional production and distribution agroholdings.

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