Russia's gross domestic product grew by 2.7 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 2.2 percent expansion reported in the previous three-month period, driven mainly by information & communication, financial & insurance activities and real estate activities, alongside mining and utilities output. A rebound in agriculture also supported the GDP growth. GDP Annual Growth Rate in Russia averaged 3 percent from 1996 until 2018, 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.

GDP Annual Growth Rate in Russia is expected to be 1.50 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 1.60 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

Russia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-10 01:00 PM GDP Growth Rate YoY Final 1.9% 1.3% 1.8% 1.8%
2018-11-13 01:00 PM GDP Growth Rate YoY Prel 1.3% 1.9% 1.5%
2018-12-12 01:00 PM GDP Growth Rate YoY Final 1.5% 1.9% 1.3% 1.3%
2019-04-02 01:00 PM GDP Growth Rate YoY 2.7% 2.2% 2.1%
2019-05-17 01:00 PM GDP Growth Rate YoY Prel 2.7% 0.8%
2019-06-18 01:00 PM GDP Growth Rate YoY Final 2.7% 0.8%
2019-08-09 01:00 PM GDP Growth Rate YoY Prel 1.5%



Russia GDP Growth Accelerates to 2.7% in Q4

Russia's gross domestic product grew by 2.7 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 2.2 percent expansion reported in the previous three-month period.

Within the service sector, growth accelerated for: information & communication (2.7 percent vs 1.3 percent in Q3); financial & insurance activities (7.9 percent vs 7 percent); real estate activities (0.3 percent vs 0.2 percent); and administrative & support service activities (2.9 percent vs 2.4 percent). Meanwhile, the rate of expansion was unchanged for wholesale & retail trade (at 2.2 percent), transportation & storage (at 3.2 percent) and public administration & defense (at 3.3 percent); while it slowed for accommodation & food service activities (4.4 percent vs 8.1 percent), culture, sports, leisure and entertainment output (0.6 percent vs 0.8 percent), and professional, scientific and technical activities (0.1 percent vs 1.6 percent).

Within industrial activity, mining output grew the most (7.7 percent vs 4.7 percent), followed by water supply, water disposal, organization of waste collection & disposal, pollution control activities (6.5 percent vs 4.3 percent) and electricity, gas & steam, air conditioning (1.2 percent vs 1 percent). Meanwhile, manufacturing growth slowed sharply to 0.2 percent from 1.3 percent in Q3, and construction output rose at a slower 4.9 percent, compared to 6.6 percent in the previous period.

Agriculture, forestry & fishing surged 2.3 percent in the three months to December, recovering from a 4.8 percent contraction in the third quarter.

Considering 2018 full year, the Russian economy grew 2.3 percent, the strongest pace of expansion in six years.


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/2/2019 1:26:43 PM


News

Russia Q3 GDP Growth Revised Higher to 1.5%
Russia's gross domestic product grew by 1.5 percent year-on-year in the third quarter of 2018, up from a preliminary estimate of 1.3 percent and following a 1.9 percent expansion reported in the previous three-month period.
Published on 2018-12-12

Russia GDP Growth Slows to 1.3% in Q3
Russia's gross domestic product grew by 1.3 percent year-on-year in the third quarter of 2018, following a 1.9 percent expansion reported in the previous period, a preliminary estimate showed. Retail trade, cargo turnover and industrial production grew at a slower pace while agriculture and construction output contracted.
Published on 2018-11-13

Russia Q2 GDP Growth Revised Higher to 1.9%
Russia's gross domestic product grew by 1.9 percent year-on-year in the second quarter of 2018, up from a preliminary estimate of 1.8 percent and following a 1.3 percent expansion reported in the previous three-month period. The stronger growth rate was mainly driven by gains in hotel, transport and restaurant sectors as the soccer World Cup had a positive impact on the economy. In addition, manufacturing and mining output increased at a faster pace.
Published on 2018-09-10

Russian Economy Grows 1.8% in Q2
Russia's gross domestic product grew by 1.8 percent year-on-year in the second quarter of 2018, following a 1.3 percent expansion reported in the previous period, a preliminary estimate showed.
Published on 2018-08-10



Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.70 4.10 -5.40 percent [+]
GDP Annual Growth Rate 2.70 2.20 12.10 -11.20 percent [+]
GDP 1577.52 1284.70 2297.10 195.90 USD Billion [+]
GDP Constant Prices 24553.50 23114.50 24553.50 13332.00 RUB Billion [+]
Gross Fixed Capital Formation 7593.90 4581.70 7593.90 1709.70 RUB Billion [+]
GDP per capita 11441.00 11279.60 11803.70 5505.60 USD [+]
GDP per capita PPP 24765.95 24416.60 25551.10 11917.80 USD [+]
GDP From Agriculture 889.70 1453.50 1541.90 141.40 RUB Billion [+]
GDP From Construction 2043.80 1383.40 2043.80 216.40 RUB Billion [+]
GDP From Manufacturing 2927.70 2702.40 3055.80 1022.90 RUB Billion [+]
GDP From Mining 2084.50 1892.90 2084.50 693.30 RUB Billion [+]
GDP From Public Administration 1643.00 1594.40 1643.00 426.00 RUB Billion [+]
GDP From Transport 1460.80 1489.20 1489.20 584.60 RUB Billion [+]
GDP From Utilities 630.50 460.70 665.80 176.30 RUB Billion [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.20 12.10 -11.20 1996 - 2018 percent Quarterly




Country Last Previous
India 6.60 Dec/18
China 6.40 Mar/19
Indonesia 5.18 Dec/18
Saudi Arabia 3.60 Dec/18
South Korea 3.10 Dec/18
United States 3.00 Dec/18
Russia 2.70 Dec/18
Australia 2.30 Dec/18
Spain 2.30 Dec/18
Netherlands 2.20 Dec/18
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Switzerland 1.40 Dec/18
United Kingdom 1.40 Dec/18
Singapore 1.30 Mar/19
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 1.00 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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