Russian GDP Expands 4.5% in Q4

2025-04-15 04:38 By Kyrie Dichosa 1 min. read

Russia’s GDP grew by 4.5% year-on-year in the fourth quarter of 2024, accelerating from an upwardly revised 3.3% in the previous period.

This marks the fastest expansion in three quarters, fueled by wartime spending on the conflict in Ukraine, which has contributed to an overheated economy and pushed annual inflation above 10%.

Sector-wise, growth picked up in wholesale and retail trade (4.9% vs 3.3% in Q3), transportation and storage (2.2% vs 1.5%), ICT (13.7% vs 12.8%), and financial and insurance activities (16.9% vs 16%).

Meanwhile, Russia’s state statistics agency, Rosstat, raised its 2024 GDP growth forecast to 4.3% from 4.1%, citing stronger construction activity, with the sector’s estimate revised up by 2.5 percentage points to 4.2%.



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