Russia’s economy contracted by 0.2% year-on-year in the first quarter of 2026, marking its first annual decline in three years and reversing from a 1% expansion in the previous quarter. The data came just days after the Russian government downgraded its full-year GDP growth forecast to 0.4% from an earlier estimate of 1.3%. The downturn occurred despite a sharp rise in the prices of key Russian exports, including oil, natural gas, coal, industrial metals, and grains, following disruptions to Middle Eastern shipping routes caused by the war. Economic activity also weakened even as the Duma ramped up deficit spending in an effort to support an economy still constrained by Western sanctions, which continue to isolate Russian producers and financial institutions from international markets. Meanwhile, Russia’s energy revenues fell by 40% year-on-year in the 12 months through April, while interest rates set by the Bank of Russia are expected to remain elevated. source: Federal State Statistics Service

The Gross Domestic Product (GDP) in Russia contracted 0.20 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 2.78 percent from 1996 until 2026, 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 May of 2026.

The Gross Domestic Product (GDP) in Russia contracted 0.20 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Russia is expected to be 0.20 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 1.50 percent in 2027 and 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-10 04:00 PM
YoY
Q4 1.0% 0.8% 0.7%
2026-05-15 04:00 PM
YoY Prel
Q1 -0.2% 1% -0.5%
2026-06-17 04:00 PM
YoY Final
Q1


Related Last Previous Unit Reference
Full Year GDP Growth 1.00 4.10 percent Dec 2025
GDP Growth Rate YoY -0.20 1.00 percent Mar 2026
GDP Constant Prices 37575.62 33924.48 RUB Billion Dec 2025
GDP from Agriculture 1415.50 2153.60 RUB Billion Dec 2025
GDP from Construction 2723.90 1687.70 RUB Billion Dec 2025
GDP from Manufacturing 6137.80 5293.50 RUB Billion Dec 2025
GDP from Mining 4143.10 3849.70 RUB Billion Dec 2025
GDP from Public Administration 2626.20 2689.10 RUB Billion Dec 2025
GDP from Transport 2203.50 2067.80 RUB Billion Dec 2025
GDP from Utilities 797.60 578.20 RUB Billion Dec 2025
Gross Fixed Capital Formation 11827.20 8132.20 RUB Billion Dec 2025


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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 1.00 12.10 -11.20 1996 - 2026 percent Quarterly

News Stream
Russia GDP Contracts in Q1
Russia’s economy contracted by 0.2% year-on-year in the first quarter of 2026, marking its first annual decline in three years and reversing from a 1% expansion in the previous quarter. The data came just days after the Russian government downgraded its full-year GDP growth forecast to 0.4% from an earlier estimate of 1.3%. The downturn occurred despite a sharp rise in the prices of key Russian exports, including oil, natural gas, coal, industrial metals, and grains, following disruptions to Middle Eastern shipping routes caused by the war. Economic activity also weakened even as the Duma ramped up deficit spending in an effort to support an economy still constrained by Western sanctions, which continue to isolate Russian producers and financial institutions from international markets. Meanwhile, Russia’s energy revenues fell by 40% year-on-year in the 12 months through April, while interest rates set by the Bank of Russia are expected to remain elevated.
2026-05-15
Russian GDP Expands 1% Annually in Q4
The Russian GDP expanded by 1% in real terms from the previous year in the fourth quarter of 2025, picking up from the 0.8% expansion in the previous quarter, which was the slowest growth rate since 2023. The figure confirmed that Russia's economy significantly underperformed other emerging markets as the Kremlin's prolonged invasion of Ukraine allocated government spending in the military instead of investments that stimulate the economy. Low crude oil prices, softening natural gas exports due to European sanctions, muted trade with China due to their anti-involution campaign, and a strong ruble amid soaring interest rates by the Bank of Russia also pressured the Russian economy.
2026-04-10
Russian GDP Growth Confirmed at 0.6%
Russia’s GDP grew 0.6% YoY in Q3 2025, the weakest pace since 2023, slowing from 1.1% in Q2, in line with preliminary estimates. The slowdown reflects the Kremlin’s focus on military spending amid the Ukraine war, rather than investments to stimulate the economy, combined with low oil prices, weaker natural gas exports due to European sanctions, muted trade with China, and a strong ruble supported by high Bank of Russia interest rates. Manufacturing growth eased to 1.4% from 3.8%, construction to 1.4% from 2.7%, and hotels & catering to 8.6% from 9.2%. Mining contracted -0.7% (vs -1.2%), water & waste activities -3.6% (vs -3.9%), wholesale & retail -1.1% (vs -2%), transportation -1.7% (vs 0.8%), and real estate -0.7% (vs -0.4%). Agriculture, forestry, hunting, fishing, and fish farming outperformed at 3% (vs 0.8%).
2025-12-12