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Regional Gross Product
2023: 2nd among all cities in the world in terms of purchasing power parity
The mayor Moscow Sergei Sobyanin at the beginning of May 2025 at a working meeting with the president Russia Vladimir Putin said that the Russian capital took second place among all megacities of the world in terms of the volume of domestic regional product (GRP). At the end of 2023, this figure for Moscow amounted to $1.39 trillion in purchasing power parity, which allowed the city to overtake such large economic centers as, and Shanghai. Tokyo Beijing
According to Kommersant, the first place in this ranking is occupied by New York with a volume of GRP $1.54 trillion. Shanghai with $1.29 trillion ranks third, followed by Tokyo ($1.28 trillion) and Beijing ($1.2 trillion). Back in 2020, Moscow was only in fifth place on this list.
At the end of 2024, the GRP of Moscow increased by 26.9% compared to 2018, and the share of the capital in the all-Russian economy reached 21%. Such growth was provided, among other things, by significant investments in fixed assets, which for the period 2019-2024 amounted to ₽8,1 trillion, having almost doubled. At the end of 2024, the volume of investments increased by 4.4% compared to 2023.
Of the total investment, the Moscow government invested ₽0,8 trillion, which were directed to the construction of housing, metro lines, schools, hospitals, sports complexes and other social infrastructure facilities.
One of the key drivers of urban economic growth has become the IT industry. From 2019 to 2024, the turnover of this sector increased by 316%. Also, a significant increase - 221% - was shown by the high-tech production segment, which includes the production of computers, electronics and optics.
The IT sector also provides significant revenues to the city budget. At the end of 2024, industry companies paid ₽363 billion to the capital's treasury, which is 35% more than in 2023. The IT industry entered the top three in terms of payments to the Moscow budget, losing only to the credit and financial sector (₽836,9 billion) and retail (₽689,2 billion).[1]
2020
The international rating agency Moody's Investors Service estimated the decline in the Moscow economy amid the COVID-19 pandemic at 4% at the end of 2020.
Wealthy residents
2024: Moscow in 2nd place in the world in terms of the number of billionaires
As of the beginning of May 2024, there are a record number of billionaires in the world - 2,781 people. This is 141 more than in 2022, and 26 more compared to the previous record set in 2021. Almost a quarter of all billionaires live in 10 cities located in six countries. Such data are given in the Forbes rating, published on May 7, 2024. Read more here.
2023: 35,200 people live in Moscow with a fortune of $1 million or more
The number of dollar millionaires living in Moscow has decreased by 44% over ten years, follows from the data of Henley & Partners. As always, for comparison, the most successful year in the economic history of the new Russia is chosen to demonstrate the most negative dynamics. The first place on the list by the number of millionaires is New York. In Moscow, according to Henley & Partners, 35,200 people live with a fortune of $1 million or more, in New York - 340,000 millionaires.
National debt
2025: State debt - 183 billion rubles
Moscow's public debt is 183 billion rubles, the budget provides for its systematic repayment. This was announced in November 2025 by the head of the finance department of the capital, Elena Zyabbarova. According to her, the level of debt burden is at a minimum value. The level of debt burden is the ratio of the volume of public debt to the volume of income - 3.3% at the end of 2025, such an increase is expected. She assured that when the borrowing planned in the capital's budget for 2026-2028 is fully implemented, the level of debt burden will not exceed 10%, it will remain at a safe level.[2]
2024: RUB 170.4 billion
According to experts from the RIA Rating Center for Economic Research for January-October 2024, the volume of Moscow's public debt amounted to 170.4 billion rubles. Read more here.
Banks
2024: 1st place in terms of IT mortgage issuance - 119.87 billion rubles
Investments
Main article: Investments in Moscow
Digitalization
Main article: Digitalization of Moscow
Video surveillance
Main article: Video surveillance in Moscow
DPCs
Main article: Moscow data centers
Moscow Fund for Industry and Entrepreneurship Support (IPPF)
Main article: Moscow Industry and Entrepreneurship Support Fund (IPPF)
Industry
2024
Production of high-tech equipment doubled over the year and reached ₽880 billion
Capital enterprises in 2024 more than doubled the production of high-tech products and shipped products worth over ₽880 billion. This was announced on February 21, 2025 by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.
According to Interfax, about 370 companies with a total number of employees of more than 30 thousand people are engaged in the production of computers, optics and electronics in Moscow. The industry's industrial production index rose 114% in 2024.
The structure of deliveries of high-tech products in 2024:
- Control, measuring and navigation instruments - ₽353 billion
- Computers and peripheral equipment - ₽257 billion
- Communication equipment - ₽131,5 billion
- Printed circuits - ₽80 billion.
The index of industrial production of manufacturing industries in Moscow increased by 17.8% compared to 2023. Small enterprises made a significant contribution to this growth, whose turnover grew by 49% and exceeded ₽2 trillion.
In the structure of Moscow's manufacturing industry, small enterprises occupy 26% of turnover, increasing their share by five percentage points per year. Large and medium-sized enterprises account for ₽5,9 trillion or more than 74% of turnover.
Maxim Liksutov emphasized the role of active support for the industrial sector from the city authorities on behalf of Moscow Mayor Sergei Sobyanin, which allows companies to regularly increase production volumes and strengthen market positions.
The growth in the production of high-tech products in Moscow demonstrates the success of import substitution programs and the development of domestic electronics production. The increase in the share of small enterprises indicates an increase in the competitiveness of small production companies in the high-tech sector.[3]
New personnel, digitalization and robotization: how the national project "Labor Productivity" affects the economic development of Moscow
As of the beginning of May 2024, more than 300 Moscow companies are participating in the national project "Labor Productivity." Of these, approximately 200 belong to the manufacturing industry - this is almost a quarter of large and medium-sized industrial enterprises in the Russian capital. Such data on May 8, 2024 was published by the Official Portal of the Mayor and the Government of Moscow.
It is noted that the tools of the national project allowed production companies to increase labor productivity by an average of 40%. The capital is characterized by the rapid growth of high-tech industries, a high share of qualified and highly qualified personnel, as well as a low unemployment rate. At the same time, labor productivity indicators in Moscow are about twice as high as the average in Russia. Moreover, almost all key sectors of the capital have significant reserves to improve values.
 | If the rest of the regions are at least half as close by 2030 to the level of labor productivity that the capital has achieved today, then we will solve the problem of labor productivity in the country as a whole, "says Maria Bagreeva, Deputy Mayor of Moscow, head of the Moscow Department of Economic Policy and Development. |  |
The national project "Labor Productivity" is based on lean production technologies. Resources that are freed up by optimizing workflows are directed to digitalization, automation and robotization. As a result, an additional increase in the efficiency of the enterprise is achieved. The next step is called training, retraining and advanced training of personnel
By 2030, as expected, the national project will cover about 80% of large and medium-sized companies in the industrial sector. In addition, it is planned to extend the program to other industries: among them are construction, transport, tourism, scientific research and development, housing and communal services and health care.[4]
Chemical industry
2024: Production of chemical products for the year increased by 14.7% and reached ₽289 billion
The turnover of Moscow manufacturers of chemical products in 2024 amounted to ₽289 billion, which is 14.7% more than in 2023 in comparable prices. Such data on March 17, 2025 was presented by the Department of Economic Policy and Development of the city of Moscow.
According to Finmarket, the capital's chemical production accounts for almost 4% of the turnover of Moscow's manufacturing industry, excluding the oil and gas sector, and an approximately similar share of the total turnover of the industry in Russia.
Maria Bagreeva, Deputy Mayor of Moscow, Head of the Department of Economic Policy and Development of the City, emphasized the importance of the chemical industry for the economy: "The products of Moscow chemical enterprises are involved in various spheres of the economy: from the production of packaging and household appliances to pharmaceuticals and the automotive industry and are in demand in Moscow and other regions of the country."
More than 43% of industry turnover, or almost ₽124,5 billion, was provided by manufacturers of chemicals for industrial and medical devices, dyes, plastics and synthetic rubber. Companies producing household chemicals, as well as perfumes and cosmetics, earned about ₽112,9 billion, which is 39% of the total turnover. Manufacturers of paints and varnishes accounted for more than ₽12,6 billion or 4.4% of the total.
The growth leaders in the chemical sector were manufacturers of plant protection products. Over the year, their revenue increased 3.2 times and reached ₽8,8 billion. Almost 2.2 times - up to ₽1,7 billion - the turnover of manufacturers of chemical fibers used to make fabrics, tires, artificial leather and other materials has increased. A 19% increase in the revenue of enterprises producing chemicals for industrial and medical devices, dyes, plastics and synthetic rubber.[5]
Electronics manufacturing
Main article: Electronics production in Moscow
Cosmetics and perfumery production
Main article: Production of cosmetics and perfumes in Moscow
Food industry
2024: Food industry turnover growth by 10.3% to ₽807,1 billion
The turnover of the food industry in Moscow in 2024 increased by 10.3% and reached ₽807,1 billion, which was a record figure for the industry. This was announced in early March 2025 by the Deputy Mayor of Moscow, head of the Moscow Department of Economic Policy and Development Maria Bagreeva, noting the positive dynamics in comparison with 2023.
According to the portal of the mayor of Moscow, almost 22% of the total turnover, or ₽175,6 billion, was provided by enterprises in the meat industry. About 15%, or ₽117,1 billion, earned factories producing bakery and flour confectionery, more than 12%, or ₽97,7 billion - dairy producers.
Food production is one of the leading areas of the capital industry. The share of this industry in the total turnover of Moscow manufacturing industries excluding the oil and gas sector in 2024 amounted to 10.2%. The capital provides 6% of the turnover of the food industry in Russia.
By the end of 2024, the leaders in growth in the Moscow food industry were enterprises specializing in the production of fat and fat products, flour mills and beverage manufacturers. The turnover of the first segment almost tripled, reaching ₽2,1 billion. Milling companies increased revenue by 56% to ₽15,6 billion. Beverage manufacturers increased their turnover by 32% over the year, bringing the figure to ₽85 billion.
Large and medium-sized enterprises accounted for more than 80% of the turnover of the food industry, or ₽648,7 billion. Over the year, their revenue grew by 10%. Small enterprises of the industry earned ₽158,4 billion in 2024, which amounted to almost 20% of industry turnover. Their revenue increased by 11%.
In 2024, the metropolitan food industry represents about 320 enterprises. They produce bakery, confectionery, meat, dairy and other products that are in demand both in the domestic market of the country and abroad.[6]
1967
Light industry
2024: The turnover of light industry in Moscow for the year increased by 42% and reached 226.1 billion rubles
The turnover of light industry in Moscow in 2024 increased by 42% and reached ₽226,1 billion. According to the Department of Economic Policy and Development of the capital, published in March 2025, the share of Moscow manufacturers of textiles and clothing amounted to almost 3% of the total turnover of the city's manufacturing industry, excluding the oil and gas sector, and about 18% of the all-Russian indicator. The head of the department, Maria Bagreeva, stressed that the rapid growth of the industry is associated with an increase in local production and an expansion of the range of products.
According to Vedomosti, Moscow manufacturers of clothing and textiles are actively developing market niches that have been vacated after the departure of foreign brands. Local companies not only provide the capital market with high-quality goods, but also successfully supply products to the regions of Russia.
The most impressive growth was shown by enterprises specializing in the production of textiles - their turnover in 2024 increased by almost 74%. Small enterprises play a special role in the development of the industry, which showed an increase in turnover by 81% per year. The share of small businesses in the total turnover of light industry in Moscow increased by 11% and reached 51%. Large and medium-sized enterprises also showed stable growth - by 17% compared to 2023.
The Minister of the Government of Moscow, the head of the Department of Investment and Industrial Policy Anatoly Garbuzov stressed that in 2024 the capital industrialists increased the production of clothing, shoes and accessories by 22.5%. According to him, a favorable investment climate, urban support measures and increased consumer demand make it possible to regularly increase production, and Moscow brands confidently respond to consumer demands for high-quality fashionable clothing.
There are many manufacturers of clothing and footwear in Moscow. Thus, the Pink Bus brand in Moscow is engaged in the production of textile products with author's prints. The capital company "Ortomoda" produces orthopedic shoes and adaptive clothing.[7]
2023: Clothing production in Moscow has grown 62.4 times in 5 years
Over the past five years, the volume of clothing production in Moscow has increased 62.4 times. Moscow Mayor Sergei Sobyanin announced this on May 28, 2024 in his Telegram channel, noting that the departure of foreign brands created new opportunities for metropolitan manufacturers and contributed to the rapid growth of the industry.
In 2023, Moscow enterprises shipped clothes worth more than 70 billion rubles and produced over 2.8 million pairs of shoes. According to the head of the Moscow Department of Investment and Industrial Policy Vladislav Ovchinsky, 135 industrial enterprises now work in Moscow, which employ about 4,000 people. These enterprises produce a wide range of products - from the mass market to designer clothes, including suits, jackets, dresses and T-shirts.
The growth in clothing production in Moscow is also explained by active support measures from regional authorities. As Marina Malakhatko, Senior Director of CORE.XP, explained, the subsidies and benefits provided to entrepreneurs contributed to the formation of a modern and technological base for small-scale production in industrial clusters and economic zones.
One of the main advantages of production in Moscow is logistics convenience and delivery speed, which is especially important for new brands that produce small batches of products. Inna Gureeva, operating director of the Fashion Factory School of Business Education, noted that high rental and wage costs remain a significant obstacle for manufacturers. Salaries of employees in Moscow are above the average in Russia, which causes additional costs for companies.
Co-founder of the Moscow clothing brand BASK Sergey Bogdanov added that the company produces 15% of its products in Moscow, concentrating on a high price segment, while more budgetary positions are issued in other regions. In 2023, the salaries of specialists had to be increased by an average of 15% due to a lack of qualified personnel.
Anna Lebsak-Kleimans, CEO of Fashion Consulting Group, noted that the difficulty of finding contract industries capable of making turnkey products is also a significant obstacle. Often customers are forced to provide their own production with raw materials and equipment, which complicates the process.
The demand for local brands in Russia has grown significantly after the departure of foreign mass markets of brands, which has become a catalyst for the development of domestic companies. Co-founder of the Moscow brand Pink Bus Maria Batyukhnova noted that sales of their products in recent years have increased by 80-100%.
The Moscow government actively supports local manufacturers by providing subsidies and preferential terms on loans. For example, the BASK brand receives subsidies for the purchase of equipment, and the credit rate for the company is below the accounting rate and is 13.5%.[8]
Creative industries
2025: The volume of Moscow's creative economy grew to ₽5,8 trillion over the year
The revenue of the creative industries of Moscow in 2023 increased by 47% compared to 2021 and reached ₽5,8 trillion. The creative industries include companies in the film industry, publishing, fashion, music and video games. This was announced by the Director General of the Agency for Creative Industries Gulnara Agamova in June 2025. Read more here.
Production of drugs and medical devices
Main article: Production of drugs and medical devices in Moscow
Small and medium-sized businesses in Moscow
Main article: Small and medium-sized businesses in Moscow
Construction in Moscow
Main article: Construction in Moscow
Real estate in Moscow
Main article: Real estate in Moscow
Oil products
2025: Cost of gasoline - $0.77 per liter
Export
2024: 1st place in terms of exports of agricultural products among the regions of Russia - $8.89 billion
According to Agroexport, published in April 2025, the volume of exports of agricultural products in Russia in 2024 increased by 5.3% compared to 2023, reaching 109.03 million tons.
2021: Moscow accounts for 44% of all Russian exports and 44.8% of imports
Enterprises and organizations registered in Moscow account for approximately 44% of all Russian exports. In addition, the Russian capital provides 44.8% of the total volume of imports in monetary terms. Such data are given in the material published at the end of October 2025.
According to the Sheets newspaper "," referring to statistics, FCS Russia imports in 2012-2021 in Moscow grew at a higher rate compared to exports - by 26.5% against 21.6%. IT Solutions, food products, high-tech products and building materials are exported from the capital, and machinery and equipment, chemical products and food are imported.
At the end of 2024, Moscow took first place among the regions of Russia in terms of non-resource non-energy exports (NE) with an indicator of almost 19%. Deliveries from the capital increased by 11% compared to 2023 and covered 157 countries of the world. Particular attention is paid to increasing the volume of AEs to friendly countries: in 2024, their share was more than 93% in the structure of capital exports, which is 10% more than a year earlier.
The main volume of supplies fell on the products of industrial industries. It increased by 7% compared to 2023 and amounted to almost 65% of the total volume of NNE of Moscow to friendly countries. In particular, food industry products such as baby food, chocolate, sausages and pasta are in demand among foreign customers. The main buyers of such products are Belarus, Kazakhstan, China, Turkey, India and Uzbekistan.
In addition, there is an increase in the export of goods from the power engineering industry - low-voltage electrical switchgears, pumps, special electrical devices, heat exchange equipment, hydraulic engines, power plants and statistical converters.[9]
Services
2024: Service turnover growth by 4.7% to RUB 4 trillion
The turnover of the service sector in Moscow at the end of 2024 reached ₽4 trillion, an increase of 4.7% compared to the previous 2023 in comparable prices. This was announced on March 3, 2025 by the deputy mayor of the capital, head of the department of economic policy and development of the city Maria Bagreeva.
According to RIA Novosti, the greatest contribution to the growth of the service sector in Moscow was made by electronic services, household and transport services. Maria Bagreeva stressed that the service sector in the capital continues to actively develop.
In the transport sector, revenue in 2024 reached ₽1,4 trillion, an increase of 3.6%. This segment accounts for more than a third of the total turnover of services in Moscow. This growth is due to the continued restoration of air and rail transportation due to the development of domestic tourism, as well as the expansion of the Moscow transport system. In 2024, 8 new metro stations were opened in the city on the Sokolnicheskaya and Troitskaya lines.
The turnover of electronic services, including online cinemas, subscriptions and music sites, increased to ₽350,5 billion, which is 25% more compared to 2023. This dynamics is explained by the growing demand for online content among residents of the capital.
In the field of consumer services, the turnover in Moscow at the end of 2024 increased to ₽257,2 billion, which is an increase of about 9%. About a quarter of this amount - ₽61,2 billion - was provided by car sharing, the revenue of which increased by 20%. The popularity of car sharing among Muscovites is explained by savings in parking and the lack of need to maintain a personal car. This type of transport is also in demand among tourists visiting the metropolis.
Also in Moscow, the demand for construction and repair services is growing. This is due to the fact that developers began to offer housing without decoration for purchase more often, which stimulated an increase in demand for this type of service. In 2024, the turnover of this sphere reached ₽21,4 billion, exceeding the indicators of 2023 by 19[10]
Trade
The main articles are:
Tourism
Main article: Tourism in Moscow
Cafes and restaurants
Main article: Moscow Restaurant Market
Labour market
Main article: Labor market in Moscow
History
2024: Sobyanin: Moscow annually transfers 4 trillion rubles to the budget of the Russian Federation
Moscow annually transfers 4 trillion rubles in. This was Budget of the Russian Federation announced on August 13, 2024 by the mayor of the capital. Sergei Sobyanin More. here
Notes
- ↑ The capital is provided by the IT industry
- ↑ Moscow state debt exceeded 180 billion rubles
- ↑ Production of high-tech products in Moscow in 2024 more than doubled
- ↑ New personnel, digitalization and robotization: how the national project "Labor Productivity" affects the economic development of Moscow
- ↑ In 2024, the turnover of Moscow manufacturers of chemical products increased by 14.7%
- ↑ The turnover of the food industry in Moscow last year increased by 10.3 percent
- ↑ The turnover of light industry enterprises in Moscow in 2024 increased by 42%
- ↑ The volume of clothing production in Moscow increased 62 times
- ↑ Vedomosti calculations: how Moscow changed under Sergei Sobyanin against the background of the country
- ↑ %. Bagreeva: in Moscow, the turnover of the service sector increased by 4.7 percent in 2024
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