The economy of Russia grew 10.3 percent year-on-year in the second quarter of 2021, following a 0.7 percent contraction in the previous period, a preliminary reading showed. It was the strongest growth since the third quarter of 2000, with the economy recovering to levels not seen since late 2019 and on track to grow by 4.0-4.5% in 2021, despite a sharp monetary tightening meant to curb inflation. source: Federal State Statistics Service

GDP Annual Growth Rate in Russia averaged 2.74 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 September of 2021.

GDP Annual Growth Rate in Russia is expected to be 3.60 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 2.50 percent in 2022 and 2.80 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Russia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.30 -0.70 12.10 -11.20 1996 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-01 04:00 PM YoY Q4 -1.8% -3.5% -2.9% -2%
2021-05-17 04:00 PM YoY Prel Q1 -1% -1.8% -2.2% -1.4%
2021-06-15 04:00 PM YoY Final Q1 -0.7% -1.8% -1% -1%
2021-08-13 04:00 PM YoY Prel Q2 10.3% -0.7% 7.5%
2021-09-10 04:00 PM YoY Final Q2 -0.7% 10.3% 10.3%
2021-11-12 04:00 PM YoY Prel Q3 3.6%
2021-12-10 04:00 PM YoY Final Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Russia GDP Grows Most Since 2000
The economy of Russia grew 10.3 percent year-on-year in the second quarter of 2021, following a 0.7 percent contraction in the previous period, a preliminary reading showed. It was the strongest growth since the third quarter of 2000, with the economy recovering to levels not seen since late 2019 and on track to grow by 4.0-4.5% in 2021, despite a sharp monetary tightening meant to curb inflation.
2021-08-13
Russia GDP Contracts Less than Expected in First Quarter
Russia's gross domestic product shrank 0.7 percent year-on-year in the first quarter of 2021, easing from a 1.8 percent contraction in the previous three-month period and compared with a preliminary estimate of a 1.0 percent contraction. The improvement in the GDP figure was down to slight improvements in industrial output and wholesale trade turnover. 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 this quarter.
2021-06-15
Russia Economy Contracts Less Than Expected
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.
2021-05-17
Russian Economy Contracts 1.8% in Q4
Russia's gross domestic product shrank 1.8 percent year-on-year in the fourth quarter of 2020, easing from a revised 3.5 percent contraction in the previous three-month period and a 7.8 percent slump in April-June. The Russian economy slid into recession last year as the coronavirus crisis hit activity and demand. The hotels & restaurants sector continued to be the biggest driver of the contraction, falling 20.7 percent from a year earlier. In addition, output dropped for wholesale & retail trade; transportation & storage; recreation and culture activities; administrative activities and related additional services; and education. Mining & quarrying was down 10.4 percent and utilities output fell 3.0 percent, while manufacturing production grew 2.0 percent. Considering 2020 as a whole, the economy shrank 3.0 percent, compared with a 2.0 percent expansion in 2019.
2021-04-01

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.