|Higher Birth Rates Boost Russian Economy|
|by Tom McGregor||Mon, Jul 9, 2012, 12:14 AM|
Surging birth rates in Russia are boosting the domestic market for children’s products, as disclosed by a business plan from MA Navigator, an online children’s store.According to Moscow Times, “the market has been growing by an average of 15 percent per year since the Russian government managed to reverse the country’s declining demographic trends.”
The State Statistics Service revealed a record number of births in 2010, with 1,788,948 babies born, which reversed the nation’s declining demographic trends.
MA Navigator’s plan said, “the market for children’s goods in the Russian Federation is developing quickly and has a lot of potential for future growth. A saturation of the market is not expected yet.”
As reported by Moscow Times, “state statistics show that there are now more than 26 million people under 17 years of age, and they account for 18 percent of the total population. Experts see great potential in increasing Russian’s spending on children. Family spending is currently over $400 per child per year, half of which is spent on children’s products in North America and Western Europe.”
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