Russia’s GDP expanded 1.3 percent in 2019, easing from a 2.5 percent advance in the previous year, preliminary estimates showed. Net foreign trade contributed negatively to growth, as exports slumped 2.1 percent (vs 5.5 percent in 2018) while imports rose 2.2 percent (vs 2.6 percent). Also, household consumption slowed (2.3 percent vs 3.3 percent) while government expenditure (2.8 percent vs 1.3 percent) and gross fixed capital formation (1.4 percent vs 0.1 percent) rose faster. Data from last December showed the economy expanded 1.7 percent in the third quarter, accelerating from a 0.9 percent gain in the previous three-month period.
GDP Annual Growth Rate in Russia averaged 2.94 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. 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. source: Federal State Statistics Service
GDP Annual Growth Rate in Russia is expected to be 1.60 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 2.00 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.20 percent in 2021 and 2.30 percent in 2022, according to our econometric models.