Russia GDP Annual Growth Rate

Russia’s annual economic growth was confirmed at 0.9 percent in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period. Industrial activity was mainly supported by utilities output; and financial & insurance activities growth accelerated while real estate activities and public administration & defence rebounded. GDP Annual Growth Rate in Russia averaged 2.95 percent from 1996 until 2019, 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.

GDP Annual Growth Rate in Russia is expected to be 1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Russia to stand at 1.80 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2019-05-17	01:00 PM	GDP Growth Rate YoY Prel Q1	0.5%	2.7%		0.8%
2019-06-18	01:00 PM	GDP Growth Rate YoY Final Q1	0.5%	2.7%	0.5%	0.5%
2019-08-12	01:00 PM	GDP Growth Rate YoY Prel Q2	0.9%	0.5%		0.9%
2019-09-09	01:00 PM	GDP Growth Rate YoY Final Q2	0.9%	0.5%	0.9%	0.9%
2019-11-13	01:00 PM	GDP Growth Rate YoY Prel Q3		0.9%		1.4%
2019-12-12	01:00 PM	GDP Growth Rate YoY Final Q3		0.9%		1.4%

Russia Q2 GDP Growth Confirmed at 0.9%

Russia’s annual economic growth was confirmed at 0.9 percent in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period.

Within the service sector, there was a rebound in real estate activities (1.3 percent vs -3.5 percent) and public administration & defence (0.2 percent vs -0.1 percent), while financial & insurance activities growth accelerated (7.9 percent vs 7.6 percent). Meanwhile, output rose at a softer pace for: transportation & storage (2.9 percent vs 3.1 percent); hotels & catering (0.2 percent vs 4.8 percent); health and human services (1.7 percent vs 2.3 percent); and leisure and entertainment (1.4 percent vs 3.7 percent).

A contraction was seen in wholesale & retail trade (-0.6 percent vs -3.0 percent); information & communication (-2.0 percent vs 1.2 percent); professional, scientific and technical activities (-0.4 percent vs 0.4 percent); administrative & support service activities (-0.5 percent vs -2.8 percent); and education (-0.4 percent vs -0.2 percent).

Within industrial activity, electricity, gas & steam, air conditioning output rebounded firmly (2.3 percent vs -1.0 percent) and water supply, water disposal, organization of waste collection & disposal, pollution control activities advanced faster (2.1 percent vs 0.1 percent). Meanwhile, manufacturing growth was unchanged at 0.6 percent, while mining output increased at a softer rate (3.0 percent vs 4.6 percent).

Construction output was flat for the second consecutive period.

Agriculture, forestry & fishing edged up 0.1 percent, compared to a contraction of 1.2 percent in the last quarter.

Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/9/2019 2:55:51 PM

News

Russian Economy Grows 0.9% in Q2
Russia's gross domestic product expanded by 0.9 percent year-on-year in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period, preliminary data showed. Industrial production was the main driver of growth.
Published on 2019-08-12

Russia Q1 GDP Growth Confirmed at 2-Year Low
Russia’s gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period and in line with preliminary estimates. That was the weakest growth rate since the last quarter of 2016.
Published on 2019-06-18

Russia GDP Growth Slows to Over 2-Year Low in Q1
Russia's gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period, preliminary data showed. That was the weakest growth rate since the last quarter of 2016.
Published on 2019-05-17

Russia GDP Growth Accelerates to 2.7% in Q4
Russia's gross domestic product grew by 2.7 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 2.2 percent expansion reported in the previous three-month period.
Published on 2019-04-02

Russia GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	-0.40	0.10	4.10	-5.40	percent	[+]
GDP Annual Growth Rate	0.90	0.50	12.10	-11.20	percent	[+]
GDP	1657.60	1578.60	2297.10	195.90	USD Billion	[+]
GDP Constant Prices	21835.80	20201.10	24553.50	10234.90	RUB Billion	[+]
Gross Fixed Capital Formation	3266.10	7593.90	7982.80	1709.70	RUB Billion	[+]
GDP per capita	11729.10	11469.70	11729.10	5505.70	USD	[+]
GDP per capita PPP	24790.65	24416.60	25551.10	11917.80	USD	[+]
GDP From Agriculture	599.50	416.00	1454.10	141.40	RUB Billion	[+]
GDP From Construction	1101.50	728.00	2043.80	216.40	RUB Billion	[+]
GDP From Manufacturing	2680.50	2322.50	3061.80	1022.90	RUB Billion	[+]
GDP From Mining	2028.10	2001.80	2084.50	693.30	RUB Billion	[+]
GDP From Public Administration	1632.70	1620.30	1643.00	426.00	RUB Billion	[+]
GDP From Transport	1473.30	1424.70	1506.90	584.60	RUB Billion	[+]
GDP From Utilities	502.80	641.90	665.90	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 September of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.90	0.50	12.10	-11.20	1996 - 2019	percent	Quarterly

Export Data API

Country	Last		Previous	Range
China	6.20	Jun/19	6.4	15.4 : 3.8	%
Indonesia	5.05	Jun/19	5.07	7.16 : 1.56	%
India	5.00	Jun/19	5.8	11.4 : -5.2	%
United States	2.30	Jun/19	2.7	13.4 : -3.9	%
Spain	2.10	Jun/19	2.1	5.4 : -4.3	%
Netherlands	2.00	Jun/19	1.7	6.1 : -4.6	%
South Korea	2.00	Jun/19	1.7	20.8 : -7.3	%
Saudi Arabia	1.70	Mar/19	3.6	24.2 : -20.7	%
Canada	1.60	Jun/19	1.4	9.3 : -4.1	%
Australia	1.40	Jun/19	1.7	9 : -3.4	%
France	1.40	Jun/19	1.3	12.6 : -3.8	%
Euro Area	1.20	Jun/19	1.3	5 : -5.5	%
United Kingdom	1.20	Jun/19	1.8	9.7 : -6.1	%
Brazil	1.00	Jun/19	0.5	10.1 : -5.5	%
Japan	1.00	Jun/19	1	9.4 : -8.8	%
Russia	0.90	Jun/19	0.5	12.1 : -11.2	%
South Africa	0.90	Jun/19	0	7.1 : -2.6	%
Argentina	0.60	Jun/19	-5.8	16.2 : -16.3	%
Germany	0.40	Jun/19	0.9	7.2 : -6.9	%
Switzerland	0.20	Jun/19	1	5.8 : -3.7	%
Singapore	0.10	Jun/19	1.1	18.6 : -7.7	%
Italy	-0.10	Jun/19	-0.1	10.3 : -7.2	%
Mexico	-0.80	Jun/19	1.2	9 : -9.1	%
Turkey	-1.50	Jun/19	-2.4	11.7 : -14.4	%