Russia's gross domestic product shrank 0.7 percent year-on-year in the first quarter of 2021, easing from a 1.8 percent contraction in the previous three-month period and compared with a preliminary estimate of a 1.0 percent contraction. The improvement in the GDP figure was down to slight improvements in industrial output and wholesale trade turnover. Looking ahead, the Russian economy is poised to recover in 2021, with the central bank predicting it will rebound to pre-crisis levels by the end of this quarter. source: Federal State Statistics Service
GDP Annual Growth Rate in Russia averaged 2.66 percent from 1996 until 2021, 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. Russia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
GDP Annual Growth Rate in Russia is expected to be 7.50 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 3.10 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022 and 2.80 percent in 2023, according to our econometric models.