Russia's funeral business is catching up with gold mining - intelligence
Kyiv • UNN
In 2025, the ritual services market in the RF grew by 18% to 128.3 billion rubles, almost like the annual revenue of Polyus PJSC. In the first months of 2026, growth amounted to 16% in cash and 37.5% in new companies.
In 2025, the volume of the ritual services market reached 128.3 billion rubles – 18% more than the previous year. The annual revenue of PJSC "Polyus" – Russia's largest gold producer and one of the world's top five industry leaders – only slightly exceeds this figure. Thus, Russia earns almost as much from burying its citizens as from gold mining. This was reported by Ukraine's Foreign Intelligence Service, writes UNN.
Details
"Russia has found a stable source of growth amid economic chaos – and it's literally the business of death. In the first months of 2026, the volume of ritual services in monetary terms grew by 16%, the number of orders – by 6.9%. In the first quarter, the number of new companies in this segment increased by 37.5%. However, official Moscow prefers not to comment on why the funeral industry remains one of the most dynamic sectors of the domestic economy", - the message states.
It is noted that in 2025, the volume of the ritual services market reached 128.3 billion rubles – 18% more than the previous year (108.3 billion). Taking into account the shadow sector, the real figure exceeds 250 billion. For comparison: the annual revenue of PJSC "Polyus" – Russia's largest gold producer and one of the five world leaders in the industry – only slightly exceeds this indicator.
"Thus, Russia earns almost as much from burying its citizens as from gold mining. This proportion inspires two categories of Russians at once. Officials saw in the funeral business a way to plug budget holes. From 2026, the Kremlin lowered the revenue threshold exempt from VAT from 60 to 20 million rubles – this is a direct blow to small business, including owners of funeral agencies. In response, they are fragmenting companies to stay below the new threshold and not feed the budget amid general price increases. The price of a coffin, by the way, has already risen by 10%", - intelligence adds.
The SZRU added that entrepreneurs are registering new entities not only for fragmentation – some of them are sincerely investing in the sector, which, unlike most others, demonstrates stable growth regardless of sanctions, the ruble exchange rate, and market conditions. Demand for ritual services in Russia is the only indicator that does not need state subsidies.
Recall
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