Russia GDP Growth Rate 1995-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Russia expanded 0.25 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Russia averaged 0.88 Percent from 1995 until 2014, reaching an all time high of 4.10 Percent in the first quarter of 1999 and a record low of -5.40 Percent in the third quarter of 1998. GDP Growth Rate in Russia is reported by the Federal State Statistics Service.


Russia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.25 0.07 4.10 -5.40 1995 - 2014 Percent Quarterly
Russia is the largest country in the world and the fifth largest economy. The Russian economy is commodity-driven. Russia is the world’s largest producer of oil (12 percent of world output), natural gas (18 percent) and nickel (20 percent). The energy sector is the most important, it contributes 20-25 percent of GDP, 65 percent of total exports and 30 percent of government budget revenue. During the past decade, poverty and unemployment declined steadily and the middle class continued to expand. However, in recent years, government’s tight control of the economy, lack of property rights laws and corruption have hampered private investment and innovation. This page provides - Russia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Russia GDP Growth Rate - was last refreshed on Friday, October 31, 2014.

Russian Economy Advances 0.25% in Q2

Russian GDP advanced 0.25 percent on quarter in the April to June period. Growth figures for the first three months of 2014 were revised to show the economy stalled instead of a previously reported 0.3 percent contraction.

Agricultural production increased 1.38 percent on a quarter-on-quarter seasonally adjusted basis, recovering from a 1.87 percent drop in the first three months of 2014. The mining sector grew 0.75 percent in the second quarter of 2014 and construction rose 0.67 percent. Meanwhile, wholesale and retail trade increased 0.33 percent, following a 1.51 percent drop in the previous quarter. 

In contrast, manufacturing contracted for the second consecutive quarter by 0.21 percent and activities in restaurants and hotels shrank 0.37 percent. Financial activities decreased for the first time in four quarters by 4.3 percent and real estate fell 1.42 percent.

Joana Taborda |
9/29/2014 6:50:20 PM

Recent Releases

Russian GDP Contracts 0.3% QoQ in Q1
The Russian economy shrank 0.3 percent quarter-on-quarter in the first three months of 2014, following a revised 0.3 percent expansion in the previous two quarters. It is the first contraction in five quarters, as production in nearly all main sectors of the economy decreased. Published on 2014-07-03

Russian Economy Accelerates in Q4
In the fourth quarter of 2013, Russian GDP advanced a seasonally adjusted 0.9 percent over the previous quarter. Considering full 2013, the economy expanded 1.3 percent. Published on 2014-04-07

Russia GDP Last Previous Highest Lowest Unit
GDP 2096.78 2017.47 2096.78 195.90 USD Billion [+]
GDP Growth Rate 0.25 0.07 4.10 -5.40 Percent [+]
GDP Annual Growth Rate 0.80 0.90 12.10 -11.20 Percent [+]
GDP Constant Prices 10458.10 9797.30 11946.20 6567.40 RUB Billion [+]
GDP per capita 6923.45 6848.70 6923.45 3282.79 USD [+]
Gross Fixed Capital Formation 3161.70 2051.80 5486.20 8.70 RUB Billion [+]
GDP per capita PPP 23564.21 23309.80 23564.21 11173.09 USD [+]