Russia’s gross domestic product advanced by 3.5% from a year ago in the first quarter of 2022, in line with preliminary estimates, below a 5% expansion in the previous period. It was the slowest growth in a year, on the back of weakening domestic demand amid the fallout from the Russia-Ukraine war and associated international sanctions. Among different activities, growth eased primarily in hotels & restaurants (6.2% vs 14.8% in Q4); information & communication (5.9% vs 10.6%); construction (4.7% vs 6.1%); wholesale and retail trade; repair of motor vehicles and motorcycles (3.7% vs 5.7%) and agriculture, forestry, hunting, fishing and fish farming (1.5% vs 4.7%). Meanwhile, output remained robust in mining (8.6% vs 9.7%), while it rose further in manufacturing (5.1% vs 4.6%). source: Federal State Statistics Service
GDP Annual Growth Rate in Russia averaged 2.78 percent from 1996 until 2022, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
GDP Annual Growth Rate in Russia is expected to be -12.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around -3.00 percent in 2023 and 1.50 percent in 2024, according to our econometric models.