In February 2025, growth was observed in the Russian engineering industry for the twenty-fourth month in a row. Total production in the five machine-building industries was 10.0% higher than in February 2024. Compared to the autumn and winter months of 2024, the growth rate of production has noticeably slowed down. In the two months of 2025, the total turnover of enterprises in all sectors of mechanical engineering increased by 4.5% compared to the same period in 2024. And the PMI index of manufacturing industries in Russia in March showed a decrease to around 48.2 points, which may be a predictor of impending stagnation.
This is stated in issue No. 1620 of the monthly bulletin "Branches of the Russian Economy: manufacturing, finance, securities. Mechanical engineering" dated April 30, 2025.
In the United States, the industrial production index exceeded the forecast value in March, reaching 50.7 against 49 in February 2025. The region's PMI was above the critical 50-point mark from December 2024 to January 2025, with a drop recorded from the end of July to November 2024.
In the eurozone, the industrial production index rose to 48.7 in March from 48.6 in February, exceeding the forecast value. The eurozone PMI has been noticeably below the critical 50-point mark since July 2022, indicating expectations for a continued decline in industrial production. The growth is provided by the militarization of the EU economy, which stimulates the growth of industrial production in the sector.
A national shipbuilding research center will be established in Russia. The center will be established on the basis of the Krylov State Scientific Center. The formation of the Krylov Research and Development Center will ensure the integration of research, design, technological and human resources into a single research structure, as well as enhance the coordination and effectiveness of scientific research management in the field of shipbuilding and civil shipbuilding.
In 2024, the share of foreign machines purchased in Russia for production was 98.3%. Last year, enterprises purchased 693,000 machines, which is almost a third less than the peak of 1 million in 2023. At the same time, the country's own production of machine tools has more than doubled in five years (from 2020 to 2024) — from 5,300 to 11,360 units. In 2024, China accounted for 71% of the volume of imported machines in monetary terms, or $1.61 billion. Direct exports of Japanese machine tools to Russia have decreased tenfold and are only partially offset by shipments through third countries. The share of imports of Indian machine tools in 2024 increased by 27.5 times to $55 million compared to 2020. In general, domestic machine tool manufacturers are under pressure from suppliers from countries where the machine tool industry has received government support in recent years: China, India and Turkey.
For a more detailed analysis, see Issue No. 1620 of the monthly bulletin "Branches of the Russian Economy: Manufacturing, Finance, Securities. Mechanical engineering" dated April 30, 2025.
