Russia's gross domestic product grew by 1.3 percent year-on-year in the third quarter of 2018, following a 1.9 percent expansion reported in the previous period, a preliminary estimate showed. Retail trade, cargo turnover and industrial production grew at a slower pace while agriculture and construction output contracted. GDP Annual Growth Rate in Russia averaged 2.99 percent from 1996 until 2018, 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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Russia GDP Growth Slows to 1.3% in Q3


Russia's gross domestic product grew by 1.3 percent year-on-year in the third quarter of 2018, following a 1.9 percent expansion reported in the previous period, a preliminary estimate showed. Retail trade, cargo turnover and industrial production grew at a slower pace while agriculture and construction output contracted.

According to preliminary data from the Ministry of Economic Development, retail trade growth eased to 2.6 percent in Q3 from 2.9 percent in the previous period and freight turnover of transport expanded at a softer 2.9 percent, compared to 3.4 percent. In addition, industrial production increased by 2.9 percent, also slower than a 3.2 percent advance recorded in the previous quarter due to a slowdown in manufacturing (2.2 percent vs 4.3 percent). Utilities continued to grow at the same pace (0.5 percent) while an acceleration was seen in both mining (4.9 percent vs 2.2 percent) and water supply (4.1 percent vs -1.9 percent).

On the other hand, agriculture contracted 6.1 percent in the third quarter (vs 1.9 percent in Q2) and construction shrank 0.4 percent (vs 0.9 percent in Q2).


Ministry of Economic Development | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/13/2018 1:39:59 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-10 01:00 PM GDP Growth Rate YoY Prel 1.8% 1.3% 1.2%
2018-09-10 01:00 PM GDP Growth Rate YoY Final 1.9% 1.3% 1.8% 1.8%
2018-11-13 01:00 PM GDP Growth Rate YoY Prel 1.3% 1.9% 1.5%
2018-12-12 01:00 PM GDP Growth Rate YoY Final 1.9% 1.3% 1.3%


Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.40 4.10 -5.40 percent [+]
GDP Annual Growth Rate 1.30 1.90 12.10 -11.20 percent [+]
GDP 1577.52 1284.70 2297.10 195.90 USD Billion [+]
GDP Constant Prices 21678.60 19992.50 24093.50 13332.00 RUB Billion [+]
Gross Fixed Capital Formation 4257.20 3079.10 7490.40 1709.70 RUB Billion [+]
GDP per capita 11441.00 11279.60 11803.70 5505.60 USD [+]
GDP per capita PPP 24765.95 24416.60 25551.10 11917.80 USD [+]
GDP From Agriculture 671.80 447.20 1541.90 141.40 RUB Billion [+]
GDP From Construction 1119.10 712.80 1731.00 216.40 RUB Billion [+]
GDP From Manufacturing 2606.10 2188.80 3055.80 1022.90 RUB Billion [+]
GDP From Mining 1954.20 1878.60 1954.20 693.30 RUB Billion [+]
GDP From Public Administration 1627.10 1612.80 1627.10 426.00 RUB Billion [+]
GDP From Transport 1444.10 1347.30 1444.10 584.60 RUB Billion [+]
GDP From Utilities 498.40 656.70 665.80 176.30 RUB Billion [+]


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. 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.30 1.90 12.10 -11.20 1996 - 2018 percent Quarterly




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India 8.20 Jun/18
China 6.50 Sep/18
Turkey 5.20 Jun/18
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Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
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Canada 1.90 Jun/18
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Russia 1.30 Sep/18
Brazil 1.00 Jun/18
Japan 1.00 Jun/18
Italy 0.80 Sep/18
South Africa 0.40 Jun/18
Argentina -4.20 Jun/18


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