Russia GDP Annual Growth Rate

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.

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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

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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 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

Export Data API

Country	Last		Previous	Highest	Lowest
India	8.20	Jun/18	7.7	11.4	-5.2	%	Quarterly
China	6.50	Sep/18	6.7	15.4	3.8	%	Quarterly
Turkey	5.20	Jun/18	7.3	11.7	-14.4	%	Quarterly
Indonesia	5.17	Sep/18	5.27	7.16	1.56	%	Quarterly
Australia	3.40	Jun/18	3.2	9	-3.4	%	Quarterly
Switzerland	3.40	Jun/18	2.9	5.8	-3.7	%	Quarterly
Netherlands	3.10	Jun/18	2.8	6.1	-4.6	%	Quarterly
United States	3.00	Sep/18	2.9	13.4	-3.9	%	Quarterly
Mexico	2.60	Sep/18	2.6	9	-9.1	%	Quarterly
Singapore	2.60	Sep/18	4.1	19	-8.8	%	Quarterly
Spain	2.50	Sep/18	2.5	5.6	-4.3	%	Quarterly
Germany	2.00	Jun/18	2.1	7.2	-6.8	%	Quarterly
South Korea	2.00	Sep/18	2.8	19.6	-7.4	%	Quarterly
Canada	1.90	Jun/18	2.3	9.3	-4.1	%	Quarterly
Euro Area	1.70	Sep/18	2.2	5	-5.5	%	Quarterly
Saudi Arabia	1.61	Jun/18	1.15	24.2	-20.7	%	Quarterly
France	1.50	Sep/18	1.7	12.6	-3.8	%	Quarterly
United Kingdom	1.50	Sep/18	1.2	9.7	-6.1	%	Quarterly
Russia	1.30	Sep/18	1.9	12.1	-11.2	%	Quarterly
Brazil	1.00	Jun/18	1.2	10.1	-5.6	%	Quarterly
Japan	1.00	Jun/18	1	9.4	-8.8	%	Quarterly
Italy	0.80	Sep/18	1.2	10.3	-7.2	%	Quarterly
South Africa	0.40	Jun/18	0.8	7.1	-2.6	%	Quarterly
Argentina	-4.20	Jun/18	3.9	16.2	-16.3	%	Quarterly