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.


Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Russia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 0.90 12.10 -11.20 1996 - 2019 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-09-09 01:00 PM YoY Final Q2 0.9% 0.5% 0.9% 0.9%
2019-11-13 01:00 PM YoY Prel Q3 1.7% 0.9% 1.6% 1.4%
2019-12-12 01:00 PM YoY Final Q3 1.7% 1.7% 1.7% 1.7%
2020-02-03 01:10 PM Full Year GDP Growth 2019 1.3% 2.5%
2020-04-01 01:00 PM YoY Q4 1.7% 2.3%
2020-05-19 01:00 PM YoY Prel Q1 1.6%
2020-06-17 01:00 PM YoY Final Q1 1.6%
2020-08-12 01:00 PM YoY Prel Q2 1.8%


News Stream
Russia GDP Growth Slows to 1.3% in 2019
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.
2020-02-03
Russia Q3 GDP Growth Confirmed at 1.7%
Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed. Growth was mainly supported by agriculture, industry, and wholesale trade.
2019-12-12
Russia Q3 GDP Growth Beats Forecasts
Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed. Growth was mainly supported by agriculture, industry, and wholesale trade.
2019-11-13
Russia Q2 GDP Growth Confirmed at 0.9%
Russia’s annual economic growth was confirmed at 0.9 percent in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period. Industrial activity was mainly supported by utilities output; and financial & insurance activities growth accelerated while real estate activities and public administration & defence rebounded.
2019-09-09

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.