Russia’s gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period and in line with preliminary estimates. That was the weakest growth rate since the last quarter of 2016. GDP Annual Growth Rate in Russia averaged 2.98 percent from 1996 until 2019, reaching an all time high of 12.10 percent in the fourth quarter of 1999 and a record low of -11.20 percent in the second quarter of 2009.

GDP Annual Growth Rate in Russia is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Russia to stand at 1.60 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

Russia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-12 01:00 PM GDP Growth Rate YoY Final 1.5% 1.9% 1.3% 1.3%
2019-04-02 01:00 PM GDP Growth Rate YoY 2.7% 2.2% 2.1%
2019-05-17 01:00 PM GDP Growth Rate YoY Prel 0.5% 2.7% 0.8%
2019-06-18 01:00 PM GDP Growth Rate YoY Final 0.5% 2.7% 0.5% 0.5%
2019-08-09 01:00 PM GDP Growth Rate YoY Prel 0.5% 1.3%
2019-09-09 01:00 PM GDP Growth Rate YoY Final 0.5% 1.3%
2019-11-13 01:00 PM GDP Growth Rate YoY Prel 1.4%



Russia Q1 GDP Growth Confirmed at 2-Year Low

Russia’s gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period and in line with preliminary estimates. That was the weakest growth rate since the last quarter of 2016.

Within the service sector, growth softened for information & communication (1.2 percent vs 2.7 percent in Q4); financial & insurance activities (7.6 percent vs 7.9 percent) and transportation & storage (3.1 percent vs 3.2 percent). In addition, output dropped for real estate activities (-3.5 percent vs 0.3 percent); administrative & support service activities (-2.8 percent vs 2.9 percent); wholesale & retail trade (-3 percent vs 2.2 percent) and public administration & defence (-0.1 percent vs 3.3 percent). By contrast, growth accelerated for leisure and entertainment output (3.7 percent vs 0.6 percent) and professional, scientific and technical activities (0.4 percent vs 0.1 percent).

Within industrial activity, mining output grew the most (4.6 percent vs 7.7 percent), followed by water supply, water disposal, organization of waste collection & disposal, pollution control activities (0.1 percent vs 6.5 percent) while electricity, gas & steam, air conditioning output shrank by 1 percent (vs 1.2 percent in Q4). Meanwhile, manufacturing growth advanced to 0.6 percent from 0.2 percent in Q4. 

Agriculture, forestry & fishing contracted by 1.2 percent in the first quarter o 2019, down from a 2.3 percent gain in the last quarter.


Federal State Statistics Service | Agna Gabriel | agna.gabriel@tradingeconomics.com
6/18/2019 1:58:12 PM



Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.40 0.10 4.10 -5.40 percent [+]
GDP Annual Growth Rate 0.50 2.70 12.10 -11.20 percent [+]
GDP 1657.60 1578.60 2297.10 195.90 USD Billion [+]
GDP Constant Prices 20201.10 24553.50 24553.50 13332.00 RUB Billion [+]
Gross Fixed Capital Formation 3266.10 7593.90 7593.90 1709.70 RUB Billion [+]
GDP per capita 11729.10 11469.70 11729.10 5505.70 USD [+]
GDP per capita PPP 24790.65 24416.60 25551.10 11917.80 USD [+]
GDP From Agriculture 416.00 889.70 1541.90 141.40 RUB Billion [+]
GDP From Construction 728.00 2043.80 2043.80 216.40 RUB Billion [+]
GDP From Manufacturing 2322.50 2927.70 3055.80 1022.90 RUB Billion [+]
GDP From Mining 2001.80 2084.50 2084.50 693.30 RUB Billion [+]
GDP From Public Administration 1620.30 1643.00 1643.00 426.00 RUB Billion [+]
GDP From Transport 1424.70 1460.80 1489.20 584.60 RUB Billion [+]
GDP From Utilities 641.90 630.50 665.80 176.30 RUB Billion [+]


Russia GDP Annual Growth Rate

Russia is one of the world's leading producers of oil and natural gas and is also a top exporter of metals such as steel and primary aluminum. On the production side, services are the biggest sector of the economy and account for 58 percent of GDP. Within services the most important segments are: wholesale and retail trade (17 percent of total GDP); and public administration, health and education (12 percent). Industry constitutes 40 percent to total output and agriculture accounts for the remaining 2 percent. This page provides the latest reported value for - Russia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 2.70 12.10 -11.20 1996 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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