Български Русский English
Demand for medicine falls in Russia for first time in 8 years
Thursday, 02 June 2016 07:25

For the first time since 2008 the medicine market in Russia has declined by 10 percent in the first quarter. Experts say that the main reasons are low incomes and the ongoing economic crisis.

Citing information provided by the DSM Group, the Vedomosti business newspaper reports that in the January-March 2016 period sales in final consumption prices were 90 percent of the equivalent period in 2015. This is the most significant fall in the last eight years. 

In quantitative terms the market has been in decline for the last several years, with the exception of the first quarter of 2015 when Russians stocked up on medicine after the devaluation of the ruble. In the first quarter of 2016 the medicine market fell by 14 percent in quantitative terms (1.18 billion packages).

Sales of medicine have fallen for the second quarter in a row: in the fourth quarter of 2015 by 9 percent in monetary value and by 17 percent in terms of packages. In 2015 the market grew by a total of 8.2 percent in rubles and declined by 4.4 percent in terms of packages.

Analysts explain that the market's decline is related to the long economic crisis in Russia: Real incomes are falling while medicine prices are growing. They also believe that this situation will lead to an increase in the market for the state segment, with its cheaper equivalents.

On this day: The Central Bank of the Russian Federation was established

article thumbnail

The Central Bank of Russia was founded on July 13, 1990.It is Russia’s central bank and implements, together with the Russian government, a single monetary policy. According to the constitution, it is an independent entity, with the primary responsibility of protecting the stability of the nationa [ ... ]


Russian natural gas looks for ways to Europe bypassing failed state Ukraine

article thumbnail

The United States and the pro-US lobby in the European Union have undermined the South Stream gas pipeline project on the bottom of the Black Sea, having caused concerns in a number of countries in Eastern Europe. These days, we can see the same people making every effort to block the construction  [ ... ]


6 habits from the Soviet Union that Russians can’t shake

article thumbnail

 1. Never throw anything outPeople who have experienced years of deficit, just cannot throw out anything./ V. Titov/TASSEver walked past an apartment block in Russia and noticed a series of balconies bulging out the side, packed tight with God knows what? Old wooden skis, broken radios, car parts,  [ ... ]


source:
 http://rbth.com/business/2016/06/02/demand-for-medicine-falls-in-russia-for-first-time-in-8-years_599683

 

Advertisement