MOSCOW, August 18, 2021 (Newswire.com) - Confectionery exports continue to show sustainable growth, according to Vladimir Yefimov, Moscow's deputy mayor for economic policy and property and land relations. In the first five months of 2021, Moscow's confectionery exports reached USD 86.15 million, up 45% year-on-year and 57.2% from 2019, when the city sold USD 54.81 million in sweets, the deputy mayor said.
He explained that local confectioners sell most of their exports to neighboring countries but that sales to customers farther abroad are growing. Sales to the European Union and North America reached USD 8.61 million, up 12.4% year-on-year and up 3% from 2019.
Of those markets father abroad, the European Union is a key consumer of Moscow's confectioneries. In the first five months of 2021, EU buyers stocked up on USD 4.92 million in sweets from Moscow, with Germany the largest consumer at USD 3.06 million. Chocolates topped the lists of sweets headed to Europe, with USD 3.47 million sold, followed by baked goods at USD 750,000 and hard candies at USD 710,000.
"Moscow's confectioneries are popular in North America as well, especially in the United States. The U.S. market bought USD 3.2 million in confectioneries from Moscow in the first five months of 2021, an impressive increase of 49.4% from the same period of 2019. The value of baked goods exported to the U.S. was up 76.9% from 2019 and 14.9% from 2020, reaching USD 990,000 for January-May 2021," said Alexander Prokhorov, head of Moscow's department for investment and industrial policy.
Experts from the Mosprom Center, a non-profit providing support for the capital's industrial exporters, also see demand for Moscow's confectioneries in Canada, where shipments of the city's sweets were up 68.6% in the first five months of 2021 to USD 480,000. Like their European counterparts, Canadians were most enthusiastic about chocolate, which was up 80.8% year-on-year to USD 280,000.
"Local confectioners see potential in their existing EU and North American markets, but they have plenty of opportunities in other European countries, as well," explained Natalia Shuvalova, director of the Mosprom Center. She named the Netherlands, Belgium, Romania, Sweden, Slovakia, Luxembourg, Ireland, and Croatia as particularly promising markets.
The Mosprom Center, subordinate to the Moscow Department of Investment and Industrial Policy, deals with individual support for the capital's industrial and agribusiness exports. The experts at the Center analyze the target markets for the capital's manufacturers. Specialists study the macroeconomic report on the target market, as well as the risk profile, including entry barriers, the state of the industry in the target market, its dependence on exports and imports, and SWOT analyses of the consumer market. The experts at the Center also perform individual analyses for the companies in order to determine the most effective strategy for entering foreign markets.