Russia GDP Annual Growth Rate  1996-2018 | Data | Chart | Calendar

Russia's gross domestic product grew by 1.9 percent year-on-year in the second quarter of 2018, up from a preliminary estimate of 1.8 percent and following a 1.3 percent expansion reported in the previous three-month period. The stronger growth rate was mainly driven by gains in hotel, transport and restaurant sectors as the soccer World Cup had a positive impact on the economy. In addition, manufacturing and mining output increased at a faster pace. GDP Annual Growth Rate in Russia averaged 3.01 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 Q2 GDP Growth Revised Higher to 1.9%


Russia's gross domestic product grew by 1.9 percent year-on-year in the second quarter of 2018, up from a preliminary estimate of 1.8 percent and following a 1.3 percent expansion reported in the previous three-month period. The stronger growth rate was mainly driven by gains in hotel, transport and restaurant sectors as the soccer World Cup had a positive impact on the economy. In addition, manufacturing and mining output increased at a faster pace.

The services sector contributed significantly to growth, as sharper rises were reported for: accommodation & food service activities (6.9 percent vs 3.4 percent in Q1); transportation & storage (3.9 percent vs 0.9 percent); financial & insurance activities (8.6 percent vs 5.9 percent); public administration & defence, compulsory social security (2.8 percent vs 2.3 percent); wholesale & retail trade (1.9 percent vs no growth); information & communication (3.3 percent vs 0.3 percent); and administrative & support service activities (1.8 percent from 0.6 percent). Meanwhile, there was a contraction in real estate activities (-1.5 percent vs 3.9 percent).

Within industrial activity, production grew further for both manufacturing (2.8 percent vs 1.9 percent) and mining & quarrying (2.6 percent from 0.7 percent); while electricity, gas & steam, air conditioning output was was unchanged (vs 2.1 percent in Q1), and water supply, water disposal, organization of waste collection & disposal, pollution control activities dropped 2.2 percent (vs 0.2 percent in Q1). In contrast, construction output rebounded firmly (0.8 percent vs -5.1 percent).

In addition, agriculture, forestry & fishing advanced by 0.3 percent, compared to a 0.1 percent fall in the first quarter.

Considering the first half of 2018, the Russian economy grew 1.7 percent, slightly above 1.6 percent in the same period of 2017.

The Bank of Russia predicts that GDP growth will be 1.5-2.0 percent in both the third and the fourth quarters.


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/10/2018 1:31:09 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-06-18 01:00 PM GDP Growth Rate YoY Final 1.3% 0.9% 1.3% 1.3%
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 1.5%
2018-12-12 01:00 PM GDP Growth Rate YoY Final


Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.85 -0.33 4.10 -5.40 percent [+]
GDP Annual Growth Rate 1.90 1.30 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 3079.10 7490.40 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 [+]
Gross National Product 65166840.30 59321789.00 65166840.30 2251977.50 RUB Million [+]
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 September of 2018.

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




GDP annual growth rate by Country
Country Last
India 8.20 Jun/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Turkey 5.20 Jun/18
Singapore 3.90 Jun/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
Netherlands 3.10 Jun/18
United States 2.90 Jun/18
South Korea 2.80 Jun/18
Spain 2.70 Jun/18
Mexico 2.60 Jun/18
Euro Area 2.10 Jun/18
Germany 2.00 Jun/18
Canada 1.90 Jun/18
Russia 1.90 Jun/18
France 1.70 Jun/18
United Kingdom 1.30 Jun/18
Italy 1.20 Jun/18
Saudi Arabia 1.15 Mar/18
Brazil 1.00 Jun/18
Japan 1.00 Jun/18
South Africa 0.40 Jun/18
Argentina -4.20 Jun/18


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