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 July 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.

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Russia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-18 04:00 PM YoY Prel Q1 3.5% 5% 3.7%
2022-06-17 04:00 PM YoY Final Q1 3.5% 5% 3.5% 3.5%
2022-08-12 04:00 PM YoY Prel Q2 3.5% -15%


Related Last Previous Unit Reference
GDP Annual Growth Rate 3.50 5.00 percent Mar 2022
GDP Constant Prices 21357.20 26426.40 RUB Billion Mar 2022
Gross Fixed Capital Formation 3737.10 7511.00 RUB Billion Mar 2022
Full Year GDP Growth 4.70 -2.70 percent Dec 2021
GDP From Utilities 664.30 675.20 RUB Billion Mar 2022
GDP From Transport 1391.00 1425.60 RUB Billion Mar 2022
GDP From Public Administration 1656.90 1711.90 RUB Billion Mar 2022
GDP From Mining 2003.40 2078.10 RUB Billion Mar 2022
GDP From Manufacturing 2594.60 3458.80 RUB Billion Mar 2022
GDP From Construction 758.70 2005.30 RUB Billion Mar 2022
GDP From Agriculture 448.70 1001.50 RUB Billion Mar 2022
Gross National Product 65166840.30 59321789.00 RUB Million Dec 2015

Russia GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 5.00 12.10 -11.20 1996 - 2022 percent Quarterly

News Stream
Russian Q1 GDP Growth Confirmed at 1-Year Low
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%).
2022-06-17
Russian Economy Expands 3.5% in Q1
The Russian economy expanded 3.5 percent year-on-year in the first quarter of 2022, easing from the 5 percent growth seen in the previous quarter, according to a preliminary estimate. It was the slowest growth rate in four quarters, as low base effects from the pandemic faded. It is also likely to be the final quarter of growth for the Russian economy this year, amid sweeping sanctions from Western states in retaliation to Russia’s invasion of Ukraine. The Economy Ministry forecasted the Russian GDP to contract 7.8% in 2022, while previous estimates from the Central Bank pointed to an 8-10% decline this year.
2022-05-18
Russian GDP Expands as Expected in Q4
Russia’s gross domestic product expanded 5 percent year-on-year in the fourth quarter of 2021, in line with preliminary estimates, picking up from a 4 percent expansion in the previous quarter. Among different sectors, hotels and catering establishments saw the sharpest improvement, rising 14.8 percent from a year ago, while mining activity grew by 9.7% and manufacturing industries rose 4.6 percent. Also, the provision of electricity, gas, and steam gained 3.8 percent. Considering the full 2021, the Russian economy expanded 4.7 percent, more than recovering from the 2.7 percent contraction during 2020 due to the pandemic.
2022-04-08