In the first five months of the year, Moscow’s furniture production in capital enterprises rose by 25.2 percent year over year. This growth was reported by Vladimir Yefimov, the Deputy Mayor for Economic Policy and Property and Land Relations, and the information was shared with editors of socialbites.ca.
The city currently hosts 90 furniture factories, four of which are medium to large scale. The turnover of Moscow’s furniture manufacturers during January through May reached 7.88 billion rubles, marking a 43.2 percent increase from the same period in 2022. These figures underscore a robust expansion across the capital’s furniture sector, with a range of products serving homes, offices, retail spaces and warehouses.
Estimates from Vladislav Ovchinsky, head of the Moscow Department of Investment and Industrial Policy, place the total value of furniture shipments in this period at 5.33 billion rubles. The report notes the geographic distribution of production locations as part of the broader city economic activity.
In industry-related policy news, there is anticipation that the State Duma could consider amendments to the Tax Code in September. The proposed changes aim to reduce the value added tax for specific child-related products, including children’s furniture, car seats, and diapers. The proposal is currently under review by the lower house and has garnered support from the legal department. If enacted, the VAT on these items could fall to 10 percent, broadening the range of products eligible for relief and potentially influencing pricing and investment incentives for manufacturers.
Past coverage highlighted consumer preferences for goods imported from Iran and the CIS, reflecting broader regional trade patterns that intersect with the local furniture market. The ongoing policy discussions, coupled with steady production and shipment growth, illustrate a dynamic dynamic in Moscow’s furniture industry that combines manufacturing resilience with evolving tax policy signals and consumer demand shifts.