Russia's gross domestic product shrank 1.0 percent year-on-year in the first quarter of 2021, following a 1.8 percent contraction in the previous period and compared to market expectations of a 2.2 percent slump, preliminary estimates showed. Water supply and waste disposal saw the sharpest improvement, growing 11.9 percent from a year earlier, with the supply of electricity, gas and steam rising 9.5 percent. On the other hand, transport was the worst affected sector, contracting 34 percent. Looking ahead, the Russian economy is poised to recover in 2021, with the central bank predicting it will rebound to pre-crisis levels by the end of the year to reach overall growth of 3-4 percent. source: Federal State Statistics Service
GDP Annual Growth Rate in Russia averaged 2.66 percent from 1996 until 2021, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
GDP Annual Growth Rate in Russia is expected to be 7.50 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 3.10 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022 and 2.80 percent in 2023, according to our econometric models.