Markets Actual Q3 Q4 Q1 Q2 2021
Currency 73.27 74.9 75.39 75.89 76.4 77.41
Stock Market (points) 2929.97 2864 2809 2756 2703 2598
Government Bond 10Y (%) 5.88 5.98 6.02 6.07 6.12 6.21

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) 0.30 3.5 1 0.3 0.5 0.7
GDP Annual Growth Rate (%) 1.60 -11 -7.4 1.1 8 6.3
Unemployment Rate (%) 6.20 6.5 7.3 8 7.7 7.5
Inflation Rate (%) 3.20 3.6 3.9 3.6 3.3 3.5
Inflation Rate Mom (%) 0.20 0.1 0.3 0.4 0.3 0.4
Interest Rate (%) 4.25 4 4 4 4 4.5
Balance of Trade (USD Million) 3673.00 7400 6900 10100 12700 13100
Current Account (USD Million) 600.00 9000 8900 22300 14500 13500
Current Account to GDP (%) 3.90 -2.3 -2.3 -1.5 -1.5 -1.5
Government Debt to GDP (%) 12.20 17.2 17.2 18.5 18.5 18.5
Government Budget (% of GDP) 1.80 -5.2 -5.2 -3.7 -3.7 -3.7
Business Confidence (points) -5.00 -4 -7 -3 -2 -5
Services PMI (points) 47.80 47 48.5 51.7 52 52.3
Manufacturing PMI (points) 48.40 43.8 46.2 48.7 49.2 50.5
Consumer Confidence (points) -30.00 -15 -14 -9 -10 -9
Retail Sales MoM (%) 6.70 -0.5 15.5 7 1.8 18
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 2021
GDP Growth Rate (%) 0.30 3.5 1 0.3 0.5 0.7
GDP Annual Growth Rate (%) 1.60 -11 -7.4 1.1 8 6.3
GDP (USD Billion) 1699.90 1250 1250 1580 1580 1580
GDP Constant Prices (RUB Billion) 20458.70 22634 23294 20684 22095 24761
Gross Fixed Capital Formation (RUB Billion) 3263.20 4811 6780 3299 3524 7207
GDP per capita (USD) 12011.50 10500 10500 11000 11000 11000
GDP per capita PPP (USD) 27043.90 25900 25900 25900 26800 26800
GDP From Agriculture (RUB Billion) 424.50 1368 884 429 458 939
GDP From Construction (RUB Billion) 708.60 1228 1772 716 765 1884
GDP From Manufacturing (RUB Billion) 2332.90 2693 2851 2359 2520 3031
GDP From Mining (RUB Billion) 1907.50 1910 1910 1928 2060 2030
GDP From Public Administration (RUB Billion) 1650.30 1594 1494 1668 1782 1588
GDP From Transport (RUB Billion) 1357.30 1450 1333 1372 1466 1417
GDP From Utilities (RUB Billion) 624.40 448 593 631 674 631

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 6.20 6.5 7.3 8 7.7 7.5
Employed Persons (Million ) 70.10 72.7 72.9 72.9 72.9 73
Unemployed Persons (Million ) 4.61 3.92 3.96 3.96 3.96 3.96
Employment Rate (%) 58.00 60 60.4 60.4 60.4 60.7
Labor Force Participation Rate (%) 61.70 61.3 61.5 61.8 62.1 62.7
Productivity (%) 2.80 -4.5 -4.5 1.7 1.7 1.7
Wages (RUB/Month) 50747.00 43173 61617 51181 50933 64821
Wages in Manufacturing (RUB/Month) 44320.00 40382 50238 46725 46068 52850
Wage Growth (%) 1.00 -5.2 -1 0.5 3.3 5.2
Minimum Wages (RUB/Month) 12130.00 12130 12130 12900 12900 12900
Population (Million) 146.80 147 147 147 147 147
Retirement Age Women 55.50 56 56 56 56 56.5
Retirement Age Men 60.50 61 61 61 61 61.5

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 3.20 3.6 3.9 3.6 3.3 3.5
Inflation Rate Mom (%) 0.20 0.1 0.3 0.4 0.3 0.4
Consumer Price Index CPI (points) 607.70 609 616 622 628 637
Core Consumer Prices (points) 100.30 100 100 100 100 100
Core Inflation Rate (%) 2.90 3.5 3.8 3.8 3.8 4
GDP Deflator (points) 123.75 123 123 128 128 127
Producer Prices (points) 625.20 616 647 673 601 666
Producer Prices Change (%) -8.30 -8 -2 3 2 3
Food Inflation (%) 3.60 4.2 4.5 4.5 4.5 5.5

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 4.25 4 4 4 4 4.5
Interbank Rate (%) 4.46 4.46 4.46 4.46 4.46 4.71
Money Supply M2 (RUB Billion) 54392.60 48900 49200 49200 49200 49800
Foreign Exchange Reserves (USD Million) 568872.00 550000 544300 544300 544300 565000
Central Bank Balance Sheet (RUB Million) 45914845.00 48927000 51441000 51958000 52123000 52257000
Loans to Private Sector (RUB Million) 31471767.00 28265900 27541622 31182184 33989508 29276744
Deposit Interest Rate (%) 4.11 4.11 4.11 4.11 4.11 4.36
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Million) 3673.00 7400 6900 10100 12700 13100
Current Account (USD Million) 600.00 9000 8900 22300 14500 13500
Current Account to GDP (%) 3.90 -2.3 -2.3 -1.5 -1.5 -1.5
Imports (USD Million) 17225.00 19700 23100 20900 19300 23900
Exports (USD Million) 20898.00 27100 30000 31000 32000 37000
Capital Flows (USD Million) 21541.28 14200 14200 14200 14200 14200
Gold Reserves (Tonnes) 2299.20 2415 2465 2465 2465 2680
Crude Oil Production (BBL/D/1K) 10945.00 11000 11000 11500 11500 11500
Weapons Sales (USD Million) 4718.00 8500 8500 8500 8500 8500
Foreign Direct Investment (USD Million) -1611.00 -2500 -1600 2000 5000 7000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 12.20 17.2 17.2 18.5 18.5 18.5
Government Budget (% of GDP) 1.80 -5.2 -5.2 -3.7 -3.7 -3.7
Government Budget Value (RUB Billion) -955.88 920 -800 -800 -800 -850
Government Spending (RUB Billion) 4227.40 4034 3914 4274 4566 4161
Government Revenues (RUB Million) 15373974.40 9500000 34600000 34600000 34600000 35800000
Fiscal Expenditure (RUB Million) 14986506.20 27000000 38400000 8300000 16000000 37700000
Military Expenditure (USD Million) 64193.00 70000 70000 70000 70000 70000

Taxes Actual Q3 Q4 Q1 Q2 2021
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 2021
Business Confidence (points) -5.00 -4 -7 -3 -2 -5
Services PMI (points) 47.80 47 48.5 51.7 52 52.3
Manufacturing PMI (points) 48.40 43.8 46.2 48.7 49.2 50.5
Industrial Production (%) -9.40 -3.2 -2 3.5 10.5 8
Industrial Production Mom (%) 2.40 1.6 4.2 4.2 4.2 3.8
Manufacturing Production (%) -6.40 2.7 2.9 2.9 2.9 3.2
Capacity Utilization (%) 59.00 55 58 60 61 63
Changes in Inventories (RUB Billion) 436.20 190 -520 -520 -520 -440
Car Production (Thousand Units) 30.60 100 105 120 135 130
Car Registrations 122622.00 171200 178000 178000 178000 185000
Leading Economic Index (%) -6.40 1.5 2 2 2 2.3
Mining Production (%) -14.20 -4 4.2 4.2 4.2 3.4
Composite Pmi (points) 48.90 47.5 49.1 52 52 53.2
Bankruptcies (Companies) 2538.00 3380 3090 3090 3090 3120
Corporate Profits (RUB Billion) 3246.00 6125 7900 2600 5800 14000

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -30.00 -15 -14 -9 -10 -9
Retail Sales MoM (%) 6.70 -0.5 15.5 7 1.8 18
Retail Sales YoY (%) -7.70 -4.8 -1.9 2.5 5.8 4.2
Consumer Spending (RUB Billion) 11859.00 12297 12388 11989 12808 13169
Consumer Credit (RUB Million) 18072093.00 16387597 16268124 18404371 19517860 17293016
Bank Lending Rate (%) 7.24 7.24 7.24 7.24 7.24 7.49
Gasoline Prices (USD/Liter) 0.65 0.64 0.61 0.57 0.55 0.52

Housing Actual Q3 Q4 Q1 Q2 2021
Housing Index (%) 8.00 4.2 4.2 4.2 4.2 3.6
Construction Output (%) -3.10 -5.5 -3.8 -1 1.7 3.5
Housing Starts (Million Sq Meter) 5.50 6.2 20.1 20.1 20.1 22.4
Home Ownership Rate (%) 89.00 86 86 85.5 85.5 85.5


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.