The contribution of small and medium-sized businesses to the Russian economy has exceeded 34 trillion rubles

Small and medium-sized businesses in Russia are demonstrating steady and qualitative growth, increasing their share in the economy to 21.7%. This is a record high for the last six years. This was reported to Izvestia by the Ministry of Economic Development of the Russian Federation (Minek) on February 27, referring to Rosstat data on the contribution of SMEs to the country's GDP by the end of 2023.

"In 2023, the small and medium-sized business sector comprised more than 6.5 million operating companies. The contribution of these enterprises to the country's GDP exceeded 34.5 trillion rubles, which is the maximum since 2018. Manufacturing, professional, scientific and technical activities have become the leading industries that have formed the main contribution and allowed us to achieve such an impressive result," said Tatyana Ilyushnikova, Deputy Minister of Economic Development of Russia.

The ministry added that small and medium-sized businesses have shown greater flexibility than larger companies, have adapted to current economic realities, are actively developing the field of import substitution, are looking for and opening new markets, including international ones.

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Earlier, on December 27, 2024, it was reported that the number of established SMEs in Russia exceeded 1 million, of which 814 thousand were created in the form of individual entrepreneurship. This was stated in an analytical note by the autonomous non-profit organization National Priorities.