Russia GDP Annual Growth Rate  1996-2017 | Data | Chart | Calendar

The Russian economy advanced 0.5 percent year-on-year in the first three months of 2017, in line with preliminary estimates and following a 0.3 percent expansion in the previous quarter. A rebound in mining, manufacturing and trade and a jump in transportation boosted growth, final figures showed. The economy returned to growth after a two-year recession that was mainly caused by low oil prices and sanctions imposed on Russian individuals and businesses in response to the annexation of Crimea. GDP Annual Growth Rate in Russia averaged 3.03 percent from 1996 until 2017, 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.

Russia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-03-31 01:00 PM Q4 0.3% -0.4% -0.6% -0.3%
2017-05-17 01:00 PM Q1 0.5% 0.3% 0.4% 0.4%
2017-06-16 01:00 PM Q1 0.5% 0.3% 0.5% 0.5%
2017-08-11 01:00 PM Q2 0.5% 0.9%
2017-09-11 01:00 PM Q2 0.5%
2017-11-13 01:00 PM Q3 1.3%




Russia GDP Growth Confirmed At 0.5% In Q1


The Russian economy advanced 0.5 percent year-on-year in the first three months of 2017, in line with preliminary estimates and following a 0.3 percent expansion in the previous quarter. A rebound in mining, manufacturing and trade and a jump in transportation boosted growth, final figures showed. The economy returned to growth after a two-year recession that was mainly caused by low oil prices and sanctions imposed on Russian individuals and businesses in response to the annexation of Crimea.

Recoveries were seen in mining (3.5 percent from -0.1 percent in Q4 2016), manufacturing (1 percent from -0.6 percent) and wholesale and retail trade (0.2 percent from -0.6 percent). The output for transportation and storage (3.3 percent from 1.2 percent) expanded faster. In contrast, a slowdown was seen for utilities (0.9 percent from 5.5 percent) and financial activities (0.1 percent from 1.7 percent).  

On the other hand, main declines were seen in contruction (-4.5 percent from -1.9 percent); health and social services (-1.9 percent from -1.7 percent); agriculture (-0.9 percent from +3.2 percent) and real estate (-0.9 percent from +1.2 percent).

The central bank recently increased its GDP growth forecasts for 2017 to 1.3-1.8 percent from 1-1.5 percent. 

Joana Taborda | joana.taborda@tradingeconomics.com
6/16/2017 1:40:18 PM


Recent Releases

Russian Economy Continues To Recover In Q1
The Russian GDP advanced 0.5 percent year-on-year in the first quarter of 2017, following 0.3 percent growth in the previous period and above market expectations of 0.4 percent, according to preliminary estimates. The economy returned to growth after a two-year recession that was mainly caused by low oil prices and sanctions imposed on Russian individuals and businesses in response to the annexation of Crimea.
Published on 2017-05-18

Russia GDP Expands 1st Time In 2 Years In Q4
The Russian economy advanced 0.3 percent in the fourth quarter of 2016, following 0.4 percent contraction in the previous period. It was the first expansion since the fourth quarter of 2014. Net external demand contributed positively, as exports rose by 3.7 percent (4.2 percent in Q3) and imports edged up 0.3 percent (-3.5 percent in Q3). Also, household spending (-3.2 percent from -4.8 percent in Q3) and investments (-0.3 percent from -0.8 percent) contracted at a slower pace. Meanwhile, government consumption fell 0.5 percent, at the same pace as in the previous period. In 2016, the GDP shrank 0.2 percent.
Published on 2017-05-18

Russia's GDP Contraction Confirmed At 0.4% YoY In Q3
Russian economy shrank 0.4 percent year-on-year in the third quarter of 2016, following 0.6 percent fall in the previous period, and in line with preliminary estimates. It was the smallest contraction in seven quarters, driven by lower drop in construction, public administration, transport and accelerated growth for mining and quarrying and agriculture. Russia remained stuck in recession, led by low oil prices, and sanctions over Ukraine that closed access to capital markets.
Published on 2016-12-13

Russia GDP Contracts 0.6% YoY in Q2
Russian economy shrank 0.6 percent year-on-year in the second quarter of 2016, following 1.2 percent fall in the previous period and in a line with preliminary estimates. It was the smallest contraction in six quarters, as manufacturing production returned to growth and wholesale and retail trade declined at a slower pace.
Published on 2016-09-09



Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.57 -1.31 4.10 -5.40 percent [+]
GDP Annual Growth Rate 0.50 0.30 12.10 -11.20 percent [+]
GDP 1331.20 2052.80 2231.80 195.90 USD Billion [+]
GDP Constant Prices 19555.20 16668.00 19555.20 6567.40 RUB Billion [+]
Gross Fixed Capital Formation 4223.10 2726.50 4746.40 1709.70 RUB Billion [+]
GDP per capita 11038.82 11490.87 11615.71 5505.63 USD [+]
GDP per capita PPP 23895.34 24873.89 25144.10 11917.85 USD [+]
Gross National Product 65166840.30 59321789.00 65166840.30 2251977.50 RUB Million [+]
GDP From Agriculture 617.30 1023.00 1023.00 141.40 RUB Billion [+]
GDP From Construction 1283.90 1053.60 1356.00 216.40 RUB Billion [+]
GDP From Manufacturing 1997.80 1848.50 2109.30 1022.90 RUB Billion [+]
GDP From Mining 1263.10 1231.90 1268.80 693.30 RUB Billion [+]
GDP From Public Administration 874.30 879.70 894.00 426.00 RUB Billion [+]
GDP From Transport 1126.80 1110.70 1131.80 584.60 RUB Billion [+]
GDP From Utilities 507.40 377.00 511.10 176.30 RUB Billion [+]


Russia GDP Annual Growth Rate Notes

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 June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.30 12.10 -11.20 1996 - 2017 percent Quarterly



gdp annual growth rate by Country

Last
China 6.90 Mar/17
India 6.10 Mar/17
Indonesia 5.01 Mar/17
Turkey 5.00 Mar/17
Netherlands 3.20 Mar/17
Spain 3.00 Mar/17
South Korea 2.90 Mar/17
Mexico 2.80 Mar/17
Canada 2.30 Mar/17
United Kingdom 2.00 Mar/17
United States 2.00 Mar/17
Euro Area 1.90 Mar/17
Australia 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.30 Mar/17
Italy 1.20 Mar/17
France 1.10 Mar/17
Switzerland 1.10 Mar/17
Russia 0.50 Mar/17
Brazil -0.40 Mar/17