Russian Economic Growth Slows

Russia's gross domestic product (GDP) has grown 4.1 percent year-on-year in the first quarter of 2011, the Federal Statistics Service (Rosstat) said on May 16.
TradingEconomics.com, Bloomberg 5/16/2011 3:42:53 PM

Russia’s economic growth slowed in the first quarter as corporate investment stagnated and the biggest quarterly gain in oil prices for two years failed to offset $21.3 billion of capital outflows.

Gross domestic product rose 4.1 percent from a year earlier after increasing 4.5 percent in the previous three months.

Net capital outflows totaled $21.3 billion in the first quarter and $38.3 billion in 2010, more than the central bank’s forecast of $22 billion. That compared with $56.9 billion a year earlier, central bank data show. The country last had a net inflow in 2007, when it reached $81.7 billion.


Russian Economic Growth Slows