Markets Actual Q3 Q4 Q1 Q2 2022
Currency 73.17 73.77 74.47 75.18 75.89 77.34
Stock Market (points) 3771.58 3676 3583 3492 3404 3234
Government Bond 10Y (%) 6.89 6.96 7.04 7.11 7.19 7.34

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -0.20 2.5 0.7 0.5 0.3 0.5
GDP Annual Growth Rate (%) -0.70 3.6 3 3.1 2.2 2.5
Unemployment Rate (%) 4.80 5.5 5.4 5 4.9 4.6
Inflation Rate (%) 6.50 5 3.8 3.7 3 4
Inflation Rate Mom (%) 0.69 0.3 0.4 0.3 0.4 0.3
Interest Rate (%) 6.50 7 7.5 7.5 7.5 7
Balance of Trade (USD Million) 10206.00 12500 11100 8900 6000 8900
Current Account (USD Million) 19900.00 6000 13500 23500 4600 12700
Current Account to GDP (% of GDP) 3.90 3.8 3.8 3.1 3.1 3.1
Government Debt to GDP (% of GDP) 17.80 18.5 18.5 17.9 17.9 17.9
Government Budget (% of GDP) -3.80 -1.2 -1.2 -0.5 -0.5 -0.5
Business Confidence (points) 0.70 0.8 -5 -2 -2 -1
Services PMI (points) 56.50 53 52.3 52 52.5 51.7
Manufacturing PMI (points) 47.50 52.7 52.9 52.5 51 50.7
Consumer Confidence (points) -18.00 -13 -11 -9 -8 -8
Retail Sales MoM (%) 0.60 -0.2 18 8.3 8 17.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -0.20 2.5 0.7 0.5 0.3 0.5
GDP Annual Growth Rate (%) -0.70 3.6 3 3.1 2.2 2.5
GDP (USD Billion) 1483.50 1710 1710 1778 1778 1778
GDP Constant Prices (RUB Billion) 20514.80 21582 24481 25745 25770 26389
Gross Fixed Capital Formation (RUB Billion) 3193.20 4409 4853 7442 7449 7628
GDP per capita (USD) 11786.60 11000 11000 11900 11900 11900
GDP per capita PPP (USD) 26456.40 26200 26200 26800 26800 26800
GDP From Agriculture (RUB Billion) 439.50 647 1539 981 982 1005
GDP From Construction (RUB Billion) 712.00 1124 1465 1970 1972 2019
GDP From Manufacturing (RUB Billion) 2478.40 2638 2862 3374 3377 3459
GDP From Mining (RUB Billion) 1798.20 1828 2005 1891 1893 1939
GDP From Public Administration (RUB Billion) 1641.70 1791 1689 1711 1713 1754
GDP From Transport (RUB Billion) 1308.70 1270 1577 1379 1381 1414
GDP From Utilities (RUB Billion) 679.90 515 488 652 653 668

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 4.80 5.5 5.4 5 4.9 4.6
Employed Persons (Million ) 71.70 71.4 71.6 71.9 71.9 72.2
Unemployed Persons (Million ) 3.60 4.8 4.7 4.5 4.5 4.4
Employment Rate (%) 59.40 58.9 60 60.3 60.3 60.5
Labor Force Participation Rate (%) 62.20 62.5 62.7 62.9 62.9 63.1
Productivity (%) 2.60 1.7 1.7 2 2 2
Wages (RUB/Month) 56171.00 50096 70594 56257 57238 72006
Wages in Manufacturing (RUB/Month) 51466.00 46198 57083 52444 52444 58225
Wage Growth (%) 3.30 1.7 1.9 1.9 1.9 2
Minimum Wages (RUB/Month) 12792.00 12792 12792 12900 12900 12900
Population (Million) 146.20 146 146 145 145 145
Retirement Age Women 55.50 56 56.5 56.5 56.5 56.5
Retirement Age Men 60.50 61 61.5 61.5 61.5 61.5

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 6.50 5 3.8 3.7 3 4
Inflation Rate Mom (%) 0.69 0.3 0.4 0.3 0.4 0.3
Consumer Price Index CPI (points) 647.40 640 645 658 667 671
Core Inflation Rate (%) 6.55 6.5 3.2 3.3 3.5 3.5
GDP Deflator (points) 130.50 126 129 135 134 134
Producer Prices (points) 239.20 227 220 229 248 229
Producer Prices Change (%) 31.10 17 10 3.5 3.8 4.5
Food Inflation (%) 7.90 6.8 4 3.8 3.5 3.3

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 6.50 7 7.5 7.5 7.5 7
Interbank Rate (%) 6.84 7.34 7.84 7.84 7.84 7.34
Money Supply M2 (RUB Billion) 59228.50 65000 67000 62500 64500 68000
Foreign Exchange Reserves (USD Million) 591529.00 610500 615500 619500 620500 621000
Central Bank Balance Sheet (RUB Million) 50453617.00 52223000 52257000 53580000 53580000 55658000
Loans to Private Sector (RUB Million) 35632246.00 33879865 34130653 35928584 36416155 34983919
Deposit Interest Rate (%) 3.33 3.83 4.33 4.33 4.33 3.83
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) 10206.00 12500 11100 8900 6000 8900
Current Account (USD Million) 19900.00 6000 13500 23500 4600 12700
Current Account to GDP (% of GDP) 3.90 3.8 3.8 3.1 3.1 3.1
Imports (USD Million) 24610.00 29500 32900 30100 30000 32100
Exports (USD Million) 34816.00 42000 44000 39000 36000 41000
Gold Reserves (Tonnes) 2295.42 2302 2305 2307 2315 2400
Crude Oil Production (BBL/D/1K) 10072.00 10900 10900 11500 11500 11500
Foreign Direct Investment (USD Million) 3886.00 6000 7000 3000 3000 9000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 17.80 18.5 18.5 17.9 17.9 17.9
Government Budget (% of GDP) -3.80 -1.2 -1.2 -0.5 -0.5 -0.5
Government Spending (RUB Billion) 4344.10 4694 4163 4541 4546 4655
Fiscal Expenditure (RUB Million) 16756845.80 25000000 37700000 37700000 37700000 37700000

Taxes Actual Q3 Q4 Q1 Q2 2022
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 Q3 Q4 Q1 Q2 2022
Business Confidence (points) 0.70 0.8 -5 -2 -2 -1
Services PMI (points) 56.50 53 52.3 52 52.5 51.7
Manufacturing PMI (points) 47.50 52.7 52.9 52.5 51 50.7
Industrial Production (%) 10.40 2.5 2.3 2.8 3.2 3.4
Industrial Production Mom (%) 1.30 0.5 3.8 10 11.5 3
Manufacturing Production (%) 14.20 3.8 4 3.3 3.2 3
Capacity Utilization (%) 60.00 63 63 64 64 65
Car Production (Thousand Units) 136.20 125 130 135 137 140
Leading Economic Index (%) 8.50 5.5 3.8 2.8 2.5 3
Mining Production (%) -1.80 1.5 1.7 4 2.5 5
Composite PMI (points) 55.00 53.8 53.2 52.4 52.6 52.1
Bankruptcies (Companies) 2321.00 3090 3120 3120 3120 3120
Corporate Profits (RUB Billion) 9466.20 10350 14000 3300 7200 15000

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -18.00 -13 -11 -9 -8 -8
Retail Sales MoM (%) 0.60 -0.2 18 8.3 8 17.5
Retail Sales YoY (%) 10.90 4.5 4.2 3.7 3.5 2.7
Consumer Spending (RUB Billion) 11696.90 10305 12967 13104 13117 13432
Consumer Credit (RUB Million) 21642373.00 19995627 20548060 21824423 22118505 21061762
Bank Lending Rate (%) 6.42 6.92 7.42 7.42 7.42 6.92
Gasoline Prices (USD/Liter) 0.67 0.64 0.61 0.57 0.55 0.52

Housing Actual Q3 Q4 Q1 Q2 2022
Housing Index (%) 13.55 9 7 6 5 4
Construction Output (%) 7.70 2.8 3.5 3.8 4 4.2
Housing Starts (Millions Square Metre) 7.70 4.2 4 3.5 3.8 3.8
Home Ownership Rate (%) 89.00 85.5 85.5 85 85 85


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.