Half of Russian Light Industry Companies are Unprofitable

The Russian light industry sector comprises 16,000 companies, of which 2,800 are large and medium-sized companies, the Ministry of Industry, Science and Technology reported to RBC. Meanwhile, half of the light industry companies are unprofitable. Moreover, only 312 firms (out of 16,000) account for 70 percent of the whole industry's output.

In general, the Russian light industry accounts for only 1.5 percent of the country's industrial products. The largest production volume in the domestic light industry is registered in Moscow, the Moscow region and Saint Petersburg.