Business news

11 Apr 2023

Belarusian Mogotex exports to over 10 countries

Mogotex. An archive photo

MOGILEV, 11 April (BelTA) – Mogilev-based textile producer Mogotex exports its products to more than ten countries, representatives of the company told the Economy of Belarus magazine, BelTA has learned.

Russia accounts for 89% of the Belarusian company’s total exports. The second largest market for the company's products is formed in Central Asia and the Caucasus - Kazakhstan, Azerbaijan, Armenia, Georgia, Tajikistan and Uzbekistan. They account for 9.8% of the company's supplies abroad. Another 1% in the company’s sales abroad are supplies to Serbia, Hungary, Latvia, Lithuania, Poland and Spain. In 2022, Mogotex's exports soared more than 50% compared to the level of 2021.

According to the company, the products are sold through an extensive distribution network, which is not limited to the domestic market. Sales abroad are carried out through a wide dealer network of 15 entities, 10 of which are located in Russia. Online trade has also received rapid development in modern conditions. A number of large Internet sites sells home textiles produced by Mogotex. The main partners of the brand are Wildberries, Ozon, 21vek.by, E-dostavka, Yandex. Market. About 20% of the company’s total output is sold here.

In 2022, the company’s revenues from sales amounted to Br174 million, or more than 161% compared to the previous year. Profit from the sale of products reached Br27 million, and the profitability of sales made up 14.7%. According to the company, continuous modernization, capacity and product line expansion contribute to the achievement of the main production targets.

For example, in 2017-2020, Mogotex acquired high-performance equipment that enables the Belarusian company to stay competitive in today's market even under difficult conditions of sanctions pressure.