Dynamic of Investment Goods Imports Amid Pandemic

Abstract

Fixed investment is one of fundamental factors for ensuring long-term economic growth and for the economic recovery following the surmounting of business activity decline, crises and recessions. The Russian economy rather strongly depends on imports of investment goods, for example, in January-February 2020 the share of machinery, equipment, and means of transport accounted for around 40% of the total Russia’s imports. The task of reducing dependence from imports remains urgent in the wake of COVID-19 pandemic when slowdown of business activity worldwide raises risks for restrictions on shipments of required nomenclature of investment goods.