Russia’s gross domestic product expanded by 5.5% from the previous year in the third quarter of 2023, matching preliminary estimates and accelerating from the 4.9% growth in the previous three-month period, final reading showed. It was the fastest growth rate since the second quarter of 2021, aided by higher benchmark prices for key Russian commodities, the restoration of supply chains following the West’s exclusion of the country from major financial markets, a low base year due to the war, and the evasion of Western oil price cap. source: Federal State Statistics Service
The Gross Domestic Product (GDP) in Russia expanded 5.50 percent in the third quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 2.62 percent from 1996 until 2023, 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 December of 2023.
The Gross Domestic Product (GDP) in Russia expanded 5.50 percent in the third quarter of 2023 over the same quarter of the previous year. 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. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 0.50 percent in 2024 and 1.20 percent in 2025, according to our econometric models.