Markets Actual Q3 Q4 Q1 Q2 2022
Currency 72.86 73.24 73.88 74.53 75.19 76.52
Stock Market (points) 4060.99 3940 3845 3752 3661 3486
Government Bond 10Y (%) 7.29 7.35 7.42 7.5 7.57 7.72

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 0.00 2.5 0.7 0.5 0.3 0.5
GDP Annual Growth Rate (%) 10.50 3.6 3 3.1 2.2 2.5
Unemployment Rate (%) 4.50 4.4 4.3 4.1 4.3 4.1
Inflation Rate (%) 6.68 7 6.6 6.1 5.2 4
Inflation Rate Mom (%) 0.17 0.3 0.4 0.3 0.4 0.3
Interest Rate (%) 6.75 6.75 7 7.5 7.5 7
Balance of Trade (USD Million) 23191.00 24500 29100 21900 20000 21700
Current Account (USD Million) 19900.00 21000 19500 25500 11500 15700
Current Account to GDP (% of GDP) 2.40 3.8 3.8 3.1 3.1 3.1
Government Debt to GDP (% of GDP) 17.80 18.5 18.5 17.9 17.9 17.9
Government Budget (% of GDP) -3.80 -1.2 -1.2 -0.5 -0.5 -0.5
Business Confidence (points) 0.00 -1 -5 -2 -2 -1
Services PMI (points) 49.30 48.8 51 56.5 52.5 51.7
Manufacturing PMI (points) 46.50 48.9 52.9 52.5 51 50.7
Consumer Confidence (points) -19.00 -16 -11 -9 -8 -8
Retail Sales MoM (%) 2.50 -0.2 18 8.3 8 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 Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 0.00 2.5 0.7 0.5 0.3 0.5
GDP Annual Growth Rate (%) 10.50 3.6 3 3.1 2.2 2.5
GDP (USD Billion) 1483.50 1710 1710 1778 1778 1778
GDP Constant Prices (RUB Billion) 22275.50 23764 25745 21151 22766 26389
Gross Fixed Capital Formation (RUB Billion) 3193.20 4794 7442 3292 3263 7628
GDP per capita (USD) 11786.60 11000 11000 11900 11900 11900
GDP per capita PPP (USD) 26456.40 26200 26200 26800 26800 26800
GDP From Agriculture (RUB Billion) 631.30 1544 981 453 645 1005
GDP From Construction (RUB Billion) 1111.60 1245 1970 734 1136 2019
GDP From Manufacturing (RUB Billion) 2787.50 3011 3374 2555 2849 3459
GDP From Mining (RUB Billion) 1861.40 1712 1891 1854 1902 1939
GDP From Public Administration (RUB Billion) 1639.10 1714 1711 1693 1675 1754
GDP From Transport (RUB Billion) 1412.80 1424 1379 1349 1444 1414
GDP From Utilities (RUB Billion) 506.70 460 652 701 518 668

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 4.50 4.4 4.3 4.1 4.3 4.1
Employed Persons (Million ) 72.00 71.4 71.6 71.9 71.9 72.2
Unemployed Persons (Million ) 3.40 4.8 4.7 4.5 4.5 4.4
Employment Rate (%) 59.60 58.9 60 60.3 60.3 60.5
Labor Force Participation Rate (%) 62.20 62.5 62.7 62.9 62.9 63.1
Productivity (%) 2.60 1.7 1.7 2 2 2
Wages (RUB/Month) 58782.00 50096 70594 56257 59899 72006
Wages in Manufacturing (RUB/Month) 51466.00 46198 57083 52444 52444 58225
Wage Growth (%) 4.90 1.7 1.9 1.9 1.9 2
Minimum Wages (RUB/Month) 12792.00 12792 12792 12900 12900 12900
Population (Million) 146.20 146 146 145 145 145
Retirement Age Women 55.50 56 56.5 56.5 56.5 56.5
Retirement Age Men 60.50 61 61.5 61.5 61.5 61.5

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 6.68 7 6.6 6.1 5.2 4
Inflation Rate Mom (%) 0.17 0.3 0.4 0.3 0.4 0.3
Consumer Price Index CPI (points) 650.50 652 662 673 681 689
Core Inflation Rate (%) 7.07 6.5 3.2 3.3 3.5 3.5
GDP Deflator (points) 138.51 129 132 138 146 137
Producer Prices (points) 249.20 227 220 229 248 229
Producer Prices Change (%) 28.60 17 10 3.5 3.8 4.5
Food Inflation (%) 7.70 8.2 7.7 6.5 5.9 4

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 6.75 6.75 7 7.5 7.5 7
Interbank Rate (%) 8.70 8.7 8.95 9.45 9.45 8.95
Money Supply M2 (RUB Billion) 59379.70 65000 67000 62500 64500 68000
Foreign Exchange Reserves (USD Million) 618181.00 610500 615500 619500 620500 621000
Central Bank Balance Sheet (RUB Million) 50629321.00 52223000 52257000 53580000 53580000 55658000
Loans to Private Sector (RUB Million) 36781498.00 33879865 34130653 35928584 37590691 34983919
Deposit Interest Rate (%) 3.64 3.64 3.89 4.39 4.39 3.89
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) 23191.00 24500 29100 21900 20000 21700
Current Account (USD Million) 19900.00 21000 19500 25500 11500 15700
Current Account to GDP (% of GDP) 2.40 3.8 3.8 3.1 3.1 3.1
Imports (USD Million) 26294.00 27500 28900 27100 26000 27300
Exports (USD Million) 49485.00 52000 58000 49000 46000 49000
Gold Reserves (Tonnes) 2292.31 2302 2305 2307 2315 2400
Crude Oil Production (BBL/D/1K) 10063.00 10900 10900 11500 11500 11500
Foreign Direct Investment (USD Million) 4987.00 6000 7000 3000 3000 9000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 17.80 18.5 18.5 17.9 17.9 17.9
Government Budget (% of GDP) -3.80 -1.2 -1.2 -0.5 -0.5 -0.5
Government Spending (RUB Billion) 4344.10 4530 4541 4479 4440 4655
Fiscal Expenditure (RUB Million) 23794425.10 25000000 37700000 37700000 37700000 37700000

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2022
Business Confidence (points) 0.00 -1 -5 -2 -2 -1
Services PMI (points) 49.30 48.8 51 56.5 52.5 51.7
Manufacturing PMI (points) 46.50 48.9 52.9 52.5 51 50.7
Industrial Production (%) 4.70 2.5 2.3 2.8 3.2 3.4
Industrial Production Mom (%) 1.20 0.5 3.8 10 11.5 3
Manufacturing Production (%) 3.10 3.8 4 3.3 3.2 3
Capacity Utilization (%) 60.00 63 63 64 64 65
Car Production (Thousand Units) 136.20 125 130 135 137 140
Leading Economic Index (%) 4.70 5.5 3.8 2.8 2.5 3
Mining Production (%) 6.40 1.5 1.7 4 2.5 5
Composite PMI (points) 49.20 53.8 53.2 52.4 52.6 52.1
Bankruptcies (Companies) 2462.00 3090 3120 3120 3120 3120
Corporate Profits (RUB Billion) 11600.70 10350 14000 3300 7200 15000

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -19.00 -16 -11 -9 -8 -8
Retail Sales MoM (%) 2.50 -0.2 18 8.3 8 17.5
Retail Sales YoY (%) 4.70 4.5 4.2 3.7 3.5 2.7
Consumer Spending (RUB Billion) 11696.90 12224 13104 12060 11954 13432
Consumer Credit (RUB Million) 22674445.00 19995627 20548060 21824423 23173283 21061762
Bank Lending Rate (%) 7.11 7.11 7.36 7.86 7.86 7.36
Gasoline Prices (USD/Liter) 0.68 0.65 0.61 0.58 0.55 0.53

Housing Actual Q3 Q4 Q1 Q2 2022
Housing Index (%) 15.30 9 7 6 5 4
Construction Output (%) 5.70 2.8 3.5 3.8 4 4.2
Housing Starts (Millions Square Metre) 7.40 4.2 4 3.5 3.8 3.8
Home Ownership Rate (%) 89.00 85.5 85.5 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.