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. Output growth slowed for accommodation & food service activities; transportation & storage; public administration & defense; and information & communication as the positive contribution from the soccer World Cup eased. In addition, manufacturing expansion also slowed and agriculture contracted, while financial & insurance activities, wholesale & retail trade and construction output advanced faster. GDP Annual Growth Rate in Russia averaged 2.99 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 1.20 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 1.50 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
2018-08-10 01:00 PM GDP Growth Rate YoY Prel 1.8% 1.3% 1.2%
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%
2019-04-01 01:00 PM GDP Growth Rate YoY 1.5% 2.1%
2019-05-17 01:00 PM GDP Growth Rate YoY Prel 1.2%
2019-06-18 01:00 PM GDP Growth Rate YoY Final 1.2%



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.

Within the service sector, growth slowed for: accommodation & food service activities (5.6 percent vs 6.9 percent in Q2); transportation & storage (3.2 percent vs 3.9 percent); public administration & defence, compulsory social security (0.3 percent vs 2.8 percent); and information & communication (2.2 percent vs 3.3 percent). In addition, real estate activities continued to contract (-1 percent vs -1.5 percent) and culture, sports, leisure and entertainment output also fell (-0.5 percent vs 0.5 percent). On the other hand, output growth accelerated for financial & insurance activities (9.7 percent vs 8.6 percent); wholesale & retail trade (2.1 percent vs 1.9 percent); and administrative & support service activities (3.1 percent vs 1.8 percent).

Within industrial activity, manufacturing expansion slowed to 1.2 percent in the third quarter from 2.8 percent in the previous period. Meanwhile, mining & quarrying output growth accelerated (5 percent vs 2.6 percent); while a rebound was seen in both electricity, gas & steam, air conditioning (0.7 percent vs unchanged), and water supply, water disposal, organization of waste collection & disposal, pollution control activities (1.8 percent vs -2.2 percent). Construction output rose 1.6 percent, faster than 0.8 percent in the previous period.

Agriculture, forestry & fishing shrank by 5.7 percent in the three months to September, compared to a 0.3 percent advance in the second quarter.

Considering January to September 2018, the Russian economy grew 1.6 percent, slightly below 1.8 percent in the same period of 2017.


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/12/2018 1:26:33 PM


News

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 Growth Confirmed at 1.3% YoY in Q1
Russia's gross domestic product advanced by 1.3 percent year-on-year in the first quarter of 2018, matching the preliminary estimate and following a 0.9 percent growth in the previous period. The stronger expansion was mainly driven by gains in financial and insurance, real estate activities and public administration. In addition, output rebounded for manufacturing and mining.
Published on 2018-06-18



Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.50 4.10 -5.40 percent [+]
GDP Annual Growth Rate 1.50 1.90 12.10 -11.20 percent [+]
GDP 1577.52 1284.70 2297.10 195.90 USD Billion [+]
GDP Constant Prices 23114.50 21678.60 24093.50 13332.00 RUB Billion [+]
Gross Fixed Capital Formation 4581.70 4257.20 7490.40 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 1453.50 671.80 1541.90 141.40 RUB Billion [+]
GDP From Construction 1383.40 1119.10 1731.00 216.40 RUB Billion [+]
GDP From Manufacturing 2702.40 2606.10 3055.80 1022.90 RUB Billion [+]
GDP From Mining 1892.90 1954.20 1954.20 693.30 RUB Billion [+]
GDP From Public Administration 1594.40 1627.10 1627.10 426.00 RUB Billion [+]
GDP From Transport 1489.20 1444.10 1489.20 584.60 RUB Billion [+]
GDP From Utilities 460.70 498.40 665.80 176.30 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.90 12.10 -11.20 1996 - 2018 percent Quarterly




Country Last Previous
India 6.60 Dec/18
China 6.40 Dec/18
Indonesia 5.18 Dec/18
South Korea 3.10 Dec/18
United States 3.10 Dec/18
Saudi Arabia 2.50 Sep/18
Spain 2.40 Dec/18
Australia 2.30 Dec/18
Netherlands 2.00 Dec/18
Singapore 1.90 Dec/18
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Russia 1.50 Sep/18
Switzerland 1.40 Dec/18
United Kingdom 1.30 Dec/18
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 0.90 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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