Markets Actual Q4 Q1 Q2 Q3 2022
Currency 70.83 71.44 72.05 72.67 73.29 74.56
Stock Market (points) 4261.82 4158 4057 3959 3862 3677
Government Bond 10Y (%) 7.40 7.47 7.54 7.62 7.69 7.84

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.00 0.7 0.5 0.3 0.4 0.5
GDP Annual Growth Rate (%) 10.50 3 3.1 2.2 2 2.5
Unemployment Rate (%) 4.40 4.3 4.1 4.3 4.2 4.1
Inflation Rate (%) 7.40 6.6 6.1 5.2 4.5 4
Inflation Rate Mom (%) 0.60 0.4 0.3 0.4 0.2 0.3
Interest Rate (%) 6.75 7.5 7.5 7.5 7.5 7
Balance of Trade (USD Million) 17113.00 29100 21900 20000 25500 21700
Current Account (USD Million) 40800.00 19500 25500 11500 13000 15700
Current Account to GDP (% of GDP) 2.40 3.8 3.1 3.1 3.1 3.1
Government Debt to GDP (% of GDP) 17.80 18.5 17.9 17.9 17.9 17.9
Government Budget (% of GDP) -3.80 -1.2 -0.5 -0.5 -0.5 -0.5
Business Confidence (points) -1.00 -5 -2 -2 -1 -1
Services PMI (points) 50.50 51 56.5 52.5 54 51.7
Manufacturing PMI (points) 49.80 52.9 52.5 51 50.9 50.7
Consumer Confidence (points) -19.00 -11 -9 -8 -9 -8
Retail Sales MoM (%) 3.40 18 8.3 8 0.1 17.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 0.00 0.7 0.5 0.3 0.4 0.5
GDP Annual Growth Rate (%) 10.50 3 3.1 2.2 2 2.5
GDP (USD Billion) 1483.50 1710 1778 1778 1778 1778
GDP Constant Prices (RUB Billion) 22275.50 24481 25745 21151 22766 26389
Gross Fixed Capital Formation (RUB Billion) 4624.40 7442 3292 4726 4717 7628
GDP per capita (USD) 11786.60 11000 11900 11900 11900 11900
GDP per capita PPP (USD) 26456.40 26200 26800 26800 26800 26800
GDP From Agriculture (RUB Billion) 631.30 1539 981 453 645 1005
GDP From Construction (RUB Billion) 1111.60 1465 1970 734 1136 2019
GDP From Manufacturing (RUB Billion) 2787.50 2862 3374 2555 2849 3459
GDP From Mining (RUB Billion) 1861.40 2005 1891 1854 1902 1939
GDP From Public Administration (RUB Billion) 1639.10 1689 1711 1693 1675 1754
GDP From Transport (RUB Billion) 1412.80 1577 1379 1349 1444 1414
GDP From Utilities (RUB Billion) 506.70 488 652 701 518 668

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 4.40 4.3 4.1 4.3 4.2 4.1
Employed Persons (Million ) 72.30 71.6 71.9 71.9 71.9 72.2
Unemployed Persons (Million ) 3.36 4.7 4.5 4.5 4.5 4.4
Employment Rate (%) 59.80 60 60.3 60.3 60.3 60.5
Labor Force Participation Rate (%) 62.20 62.7 62.9 62.9 62.9 63.1
Productivity (%) 2.60 1.7 2 2 2 2
Wages (RUB/Month) 55170.00 70594 56257 59899 56218 72006
Wages in Manufacturing (RUB/Month) 51466.00 57083 52444 52444 52444 58225
Wage Growth (%) 2.20 1.9 1.9 1.9 1.9 2
Minimum Wages (RUB/Month) 12792.00 12792 12900 12900 12900 12900
Population (Million) 146.20 146 145 145 145 145
Retirement Age Women 55.50 56.5 56.5 56.5 56.5 56.5
Retirement Age Men 60.50 61.5 61.5 61.5 61.5 61.5

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 7.40 6.6 6.1 5.2 4.5 4
Inflation Rate Mom (%) 0.60 0.4 0.3 0.4 0.2 0.3
Consumer Price Index CPI (points) 654.40 662 673 681 684 689
Core Inflation Rate (%) 7.61 3.2 3.3 3.5 3.5 3.5
GDP Deflator (points) 138.51 129 132 138 146 137
Producer Prices (points) 249.20 254 270 282 277 275
Producer Prices Change (%) 28.60 27.5 22 17.8 11 8
Food Inflation (%) 9.21 7.7 6.5 5.9 4.5 4

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 6.75 7.5 7.5 7.5 7.5 7
Interbank Rate (%) 7.07 7.82 7.82 7.82 7.82 7.32
Money Supply M2 (RUB Billion) 59816.90 67000 62500 64500 64500 68000
Foreign Exchange Reserves (USD Million) 614122.00 615500 619500 620500 620500 621000
Central Bank Balance Sheet (RUB Million) 52232558.00 52257000 53580000 53580000 53580000 55658000
Loans to Private Sector (RUB Million) 37386584.00 34130653 35928584 37590691 38134316 34983919
Deposit Interest Rate (%) 3.87 4.62 4.62 4.62 4.62 4.12
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD Million) 17113.00 29100 21900 20000 25500 21700
Current Account (USD Million) 40800.00 19500 25500 11500 13000 15700
Current Account to GDP (% of GDP) 2.40 3.8 3.1 3.1 3.1 3.1
Imports (USD Million) 26043.00 28900 27100 26000 24500 27300
Exports (USD Million) 43156.00 58000 49000 46000 50000 49000
Gold Reserves (Tonnes) 2292.31 2305 2307 2315 2315 2400
Crude Oil Production (BBL/D/1K) 10015.00 10900 11500 11500 11500 11500
Foreign Direct Investment (USD Million) 4987.00 7000 3000 3000 3000 9000

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 17.80 18.5 17.9 17.9 17.9 17.9
Government Budget (% of GDP) -3.80 -1.2 -0.5 -0.5 -0.5 -0.5
Government Spending (RUB Billion) 4409.70 4541 4479 4507 4498 4655
Fiscal Expenditure (RUB Million) 27664018.70 37700000 37700000 37700000 37700000 37700000

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 30.00 30 30 30 30 30
Social Security Rate For Companies (%) 30.00 30 30 30 30 30
Social Security Rate For Employees (%) 0.00 0 0 0 0 0

Business Actual Q4 Q1 Q2 Q3 2022
Business Confidence (points) -1.00 -5 -2 -2 -1 -1
Services PMI (points) 50.50 51 56.5 52.5 54 51.7
Manufacturing PMI (points) 49.80 52.9 52.5 51 50.9 50.7
Industrial Production (%) 4.70 2.3 2.8 3.2 3.2 3.4
Industrial Production Mom (%) 1.20 3.8 10 11.5 11.5 3
Manufacturing Production (%) 3.10 4 3.3 3.2 3.2 3
Capacity Utilization (%) 60.00 63 64 64 64 65
Car Production (Thousand Units) 136.20 130 135 137 137 140
Leading Economic Index (%) 3.70 3.8 2.8 2.5 2.5 3
Mining Production (%) 6.40 1.7 4 2.5 2.5 5
Composite PMI (points) 50.50 53.2 52.4 52.6 52.6 52.1
Bankruptcies (Companies) 2462.00 3120 3120 3120 3120 3120
Corporate Profits (RUB Billion) 14368.10 24000 5700 16200 21500 25000

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) -19.00 -11 -9 -8 -9 -8
Retail Sales MoM (%) 3.40 18 8.3 8 0.1 17.5
Retail Sales YoY (%) 5.30 4.2 3.7 3.5 3.5 2.7
Consumer Spending (RUB Billion) 12274.60 13104 12060 12545 12520 13432
Consumer Credit (RUB Million) 23083866.00 20548060 21824423 23173283 23545543 21061762
Bank Lending Rate (%) 7.96 8.71 8.71 8.71 8.71 8.21
Gasoline Prices (USD/Liter) 0.68 0.65 0.61 0.58 0.55 0.53

Housing Actual Q4 Q1 Q2 Q3 2022
Housing Index (%) 15.30 7 6 5 5 4
Construction Output (%) 6.20 3.5 3.8 4 4 4.2
Housing Starts (Millions Square Metre) 8.40 4 3.5 3.8 3.8 3.8
Home Ownership Rate (%) 89.00 85.5 85 85 85 85


This page has economic forecasts for Russia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Russia economy.