Markets Actual Q2 Q3 Q4 Q1 2021
Currency 69.36 69.38 69.83 70.29 70.76 71.7
Stock Market (points) 2765.30 2777 2724 2672 2621 2519
Government Bond 10Y (%) 5.64 5.6 5.65 5.69 5.73 5.82

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) 0.60 -3.1 -3.5 -2 0.6 1.3
GDP Annual Growth Rate (%) 1.60 -13 -9.8 -4.5 0.5 1.9
Unemployment Rate (%) 5.80 5.5 6.1 7.3 8 7.5
Inflation Rate (%) 3.10 3.3 3.7 4 4 4.3
Inflation Rate Mom (%) 0.80 0.6 0.3 0.6 0.6 0.4
Interest Rate (%) 5.50 5.25 5.25 5.25 5 5
Balance of Trade (USD Million) 9313.00 14400 13700 19900 16800 18600
Current Account (USD Million) 21700.00 11000 7000 19800 19800 18200
Current Account to GDP (%) 7.00 5.1 5.1 5.1 4.5 4.5
Government Debt to GDP (%) 14.60 17.2 17.2 17.2 18.5 18.5
Government Budget (% of GDP) 1.80 -5.2 -5.2 -5.2 -2 -2
Business Confidence (points) -9.00 -23 -18 -16 -9 -7
Services PMI (points) 35.90 41.9 47 48.5 51.7 52.3
Manufacturing PMI (points) 36.20 39.5 43.8 46.2 48.7 50.5
Consumer Confidence (points) -11.00 -39 -37 -30 -18 -15
Retail Sales MoM (%) 10.20 1.3 -0.5 22.8 22.8 21
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) 0.60 -3.1 -3.5 -2 0.6 1.3
GDP Annual Growth Rate (%) 1.60 -13 -9.8 -4.5 0.5 1.9
GDP (USD Billion) 1750.00 1780 1780 1780 1910 1910
GDP Constant Prices (RUB Billion) 25155.00 20890 22728 24023 25281 24479
Gross Fixed Capital Formation (RUB Billion) 7321.30 4404 4833 6992 7358 7125
GDP per capita (USD) 11729.10 12500 12500 12500 12900 12900
GDP per capita PPP (USD) 27147.30 25900 25900 25900 26374 27474
GDP From Agriculture (RUB Billion) 954.30 574 1374 911 959 929
GDP From Construction (RUB Billion) 1913.70 1054 1233 1828 1923 1862
GDP From Manufacturing (RUB Billion) 3078.90 2564 2704 2940 3094 2996
GDP From Mining (RUB Billion) 2062.10 1940 1918 1969 2072 2007
GDP From Public Administration (RUB Billion) 1612.90 1562 1600 1540 1621 1570
GDP From Transport (RUB Billion) 1439.80 1409 1456 1375 1447 1401
GDP From Utilities (RUB Billion) 640.80 481 450 612 644 624

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 5.80 5.5 6.1 7.3 8 7.5
Employed Persons (Million ) 71.40 72.7 72.7 72.9 72.9 73
Unemployed Persons (Million ) 4.30 3.92 3.92 3.96 3.96 3.96
Employment Rate (%) 59.10 60 60 60.4 60.4 60.7
Labor Force Participation Rate (%) 62.00 62.5 62.5 62.7 62.7 63
Productivity (%) 2.80 2 2 2 2 2
Wages (RUB/Month) 50926.00 50582 46862 64106 48675 65709
Wages in Manufacturing (RUB/Month) 43243.00 44651 43832 44540 44540 45654
Wage Growth (%) 5.90 2.5 2.9 3 3 2.5
Minimum Wages (RUB/Month) 12130.00 12130 12130 12130 12900 12900
Population (Million) 146.80 147 147 147 147 147
Retirement Age Women 55.50 56 56 56 56 56.5
Retirement Age Men 60.50 61 61 61 61 61.5
Living Wage Family (RUB/Month) 23700.00 24293 24387 24411 24411 25021
Living Wage Individual (RUB/Month) 14500.00 14863 14921 14935 14935 15308
Wages Low Skilled (RUB/Month) 19900.00 20398 20477 20497 20497 21009
Wages High Skilled (RUB/Month) 48300.00 49508 49701 49749 49749 50993

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 3.10 3.3 3.7 4 4 4.3
Inflation Rate Mom (%) 0.80 0.6 0.3 0.6 0.6 0.4
Consumer Price Index CPI (points) 604.70 608 609 616 624 643
Core Consumer Prices (points) 100.50 100 100 100 100 100
Core Inflation Rate (%) 2.90 3.2 3.5 3.8 3.8 4
GDP Deflator (points) 118.53 124 124 123 123 129
Producer Prices (points) 606.30 713 686 742 670 757
Producer Prices Change (%) -10.40 2.8 2.6 2.5 2.5 2
Food Inflation (%) 2.20 3.8 4.2 4.5 4.5 5.5

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 5.50 5.25 5.25 5.25 5 5
Interbank Rate (%) 6.72 6.35 6.35 6.35 6.1 6.1
Money Supply M2 (RUB Billion) 52951.70 48500 48900 49200 49200 49800
Foreign Exchange Reserves (USD Million) 566012.00 545000 550000 544300 544300 565000
Central Bank Balance Sheet (RUB Million) 50797025.00 46257000 48927000 51441000 54458000 65257000
Loans to Private Sector (RUB Million) 29602154.00 27476884 28383267 28404156 29750165 28943835
Deposit Interest Rate (%) 4.32 4.32 4.32 4.32 4.07 4.07
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (USD Million) 9313.00 14400 13700 19900 16800 18600
Current Account (USD Million) 21700.00 11000 7000 19800 19800 18200
Current Account to GDP (%) 7.00 5.1 5.1 5.1 4.5 4.5
Imports (USD Million) 20299.00 22800 22500 24200 24200 27500
Exports (USD Million) 29612.00 34500 36200 41000 41000 43500
Capital Flows (USD Million) 10370.26 12000 14200 14200 14200 14200
Gold Reserves (Tonnes) 2299.20 2355 2415 2465 2465 2680
Crude Oil Production (BBL/D/1K) 10884.00 10500 11000 11000 11500 11500
Weapons Sales (USD Million) 6409.00 8500 8500 8500 8500 8500
Foreign Direct Investment (USD Million) 5885.00 5000 -1600 9800 9800 9800

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 14.60 17.2 17.2 17.2 18.5 18.5
Government Budget (% of GDP) 1.80 -5.2 -5.2 -5.2 -2 -2
Government Budget Value (RUB Billion) 122.88 920 920 -800 -800 -850
Government Spending (RUB Billion) 4226.90 3868 3914 4037 4248 4113
Government Revenues (RUB Million) 922333969.30 9500000 9500000 34600000 34600000 35800000
Fiscal Expenditure (RUB Million) 8601941.90 8500000 8500000 35400000 35400000 36700000
Military Expenditure (USD Million) 64193.00 70000 70000 70000 70000 70000

Taxes Actual Q2 Q3 Q4 Q1 2021
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 30.00 30 30 30 30 30
Social Security Rate For Companies (%) 30.00 30 30 30 30 30
Social Security Rate For Employees (%) 0.00 0 0 0 0 0

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) -9.00 -23 -18 -16 -9 -7
Services PMI (points) 35.90 41.9 47 48.5 51.7 52.3
Manufacturing PMI (points) 36.20 39.5 43.8 46.2 48.7 50.5
Industrial Production (%) -6.60 -15.8 -9.5 2.5 3.5 8
Industrial Production Mom (%) -9.20 -0.8 1.6 4.2 4.2 3.8
Manufacturing Production (%) -10.00 2.6 2.7 2.9 2.9 3.2
Capacity Utilization (%) 59.00 65 65 66 66 66
Changes in Inventories (RUB Billion) -615.20 190 190 -520 -520 -440
Car Production (Thousand Units) 110.90 145 152 158 158 165
Car Registrations 38922.00 172000 171200 178000 178000 185000
Leading Economic Index (%) -12.00 1.8 1.5 2 2 2.3
Mining Production (%) -3.20 -4 3 4.2 4.2 3.4
Composite Pmi (points) 13.90 42 47.5 49.1 52 53.2
Bankruptcies (Companies) 2538.00 3380 3380 3090 3090 3120
Corporate Profits (RUB Billion) 1569.90 2000 3200 17700 17700 17700

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) -11.00 -39 -37 -30 -18 -15
Retail Sales MoM (%) 10.20 1.3 -0.5 22.8 22.8 21
Retail Sales YoY (%) -23.40 -7.5 -4.8 -1.9 2.5 4.2
Consumer Spending (RUB Billion) 13378.50 11388 12339 12776 13445 13019
Consumer Credit (RUB Million) 17914782.00 15530198 16455642 16777601 18004356 17096376
Bank Lending Rate (%) 7.75 7.48 7.48 7.48 7.23 7.23
Gasoline Prices (USD/Liter) 0.64 0.55 0.52 0.5 0.47 0.45

Housing Actual Q2 Q3 Q4 Q1 2021
Housing Index (%) 8.00 4.2 4.2 4.2 4.2 3.6
Construction Output (%) 2.30 1.4 1.5 1.7 1.7 2.1
Housing Starts (Million Sq Meter) 3.00 6.2 6.2 20.1 20.1 22.4
Home Ownership Rate (%) 89.00 84.4 84.4 84.4 84.4 84


This page has economic forecasts for Russia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Russia economy.