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

The Gross Domestic Product (GDP) in Russia expanded 0.04 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in Russia averaged 0.86 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.

      Forecast    
Russia GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.04 0.14 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, December 19, 2014.


Russian Economy Stalls in Q3


The Russian GPD posted zero growth in the three months to September, following a revised 0.14 percent expansion in the previous period, as a rise in internal trade and real estate activities was not enough to offset a drop in manufacturing.

On a quarter-on-quarter seasonally adjusted basis, fishing and farming activities shrank the most by 3.5 percent, followed by restaurants and hotels (-1.63 percent), health and social services (-0.88 percent) and construction (-0.8 percent). Manufacturing contracted 0.44 percent and the mining sector dropped 0.51 percent.

In contrast, financial activities posted the highest gain (3.26 percent), followed by agriculture (1.41 percent), internal trade (0.69 percent) and real estate (0.63 percent). Transportation grew 0.13 percent. 

Year-on-year, the economy advanced 0.7 percent, slowing for the third straight quarter.

Joana Taborda | joana.taborda@tradingeconomics.com
12/12/2014 1:49:39 PM


Recent Releases

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. Published on 2014-09-29

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


Russia GDP Last Previous Highest Lowest Unit
GDP 2096.78 2017.47 2096.78 195.90 USD Billion [+]
GDP Growth Rate 0.04 0.14 4.10 -5.40 percent [+]
GDP Annual Growth Rate 0.70 0.80 12.10 -11.20 percent [+]
GDP Constant Prices 11486.30 10458.10 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 [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.30 Aug/14 0.50 4.50 -2.00 percent [+]
Brazil 0.10 Aug/14 -0.60 4.50 -4.20 percent [+]
Canada 0.70 Aug/14 0.90 3.33 -1.80 percent [+]
China 1.90 Aug/14 2.00 2.50 1.40 percent [+]
Euro Area 0.20 Aug/14 0.10 1.30 -2.80 percent [+]
France 0.30 Aug/14 -0.10 1.60 -1.70 percent [+]
Germany 0.10 Aug/14 -0.10 2.10 -3.70 percent [+]
India 1.20 May/14 1.90 5.80 -1.90 percent [+]
Indonesia 2.96 Aug/14 2.49 3.82 -3.57 percent [+]
Italy -0.10 Aug/14 -0.20 6.00 -3.50 percent [+]
Japan -0.50 Aug/14 -1.90 3.20 -4.00 percent [+]
Mexico 0.50 Aug/14 0.90 2.90 -6.60 percent [+]
Netherlands 0.20 Aug/14 0.60 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.90 Aug/14 0.50 6.80 -7.00 percent [+]
Spain 0.50 Aug/14 0.50 1.53 -1.60 percent [+]
Switzerland 0.60 Aug/14 0.30 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.70 Aug/14 0.90 5.00 -2.70 percent [+]
United States 3.90 Aug/14 4.60 16.90 -10.00 percent [+]