Annual footwear import value growth in Russia 2012-2018

Footwear import trade dynamics in Russia were fluctuant over the observed period. In 2015, when the import value growth marked its lowest at nearly negative 36 percent, but they it recovered at a positive growth rate of 35 percent by 2017. Such a significant change was due to the depreciation of Russian ruble in 2016, which made many of shoe producing businesses less profitable and imports of cheap footwear more cost-effective. In 2018, a notably lower growth rate of approximately eight percent was conditioned to lower the volume but improve quality of imported shoes, as the source suggested.