In 2023, investment in the Russian timber industry dropped by 4.8%, down to 188.8 billion rubles

The value of investments in the Russian timber industry reduced by 4.8% in 2023 compared to the record-setting performance of 2022; it amounted to 188.8 billion rubles, which is comparable to the 2021 level, according to Roslesinforg.

Over 125.4 billion rubles (66.5% of the total value) was invested in production of paper and paper goods; 36.1 billion rubles (19.1%), in mechanical woodworking; 17.8 billion rubles (9.4%), in forest management and timber harvesting; and 9.4 billion rubles (5%), in furniture production. The value of investment in the pulp and paper production and furniture production hit record highs in 2023, surging by 29.4% YoY and 30.1% YoY, respectively, the timber accounting agency reports.

In 2023, the invested funds were mostly spent on purchasing specialized equipment—119.3 billion rubles (63.2% of the total value); 52.7 billion rubles (27.9%) was spent on infrastructure facilities; 14.9 billion rubles (7.9%), on upgrading vehicle fleets; and 1.9 billion rubles (1%), on purchasing intellectual property assets.

The leaders among Russian regions by the investment value that year were the Irkutsk Region (60.6 billion rubles), the Kaluga Region (16.3 billion rubles), and the Moscow Region (14.1 billion rubles).