Russia GDP Growth Rate 1995-2015 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Russia contracted 1.29 percent in the first quarter of 2015 over the previous quarter. GDP Growth Rate in Russia averaged 0.81 percent from 1995 until 2015, 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
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
-1.29 -0.55 4.10 -5.40 1995 - 2015 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. Content for - Russia GDP Growth Rate - was last refreshed on Tuesday, July 7, 2015.


Russian Economy Contracts 1.3% QoQ in Q1


The Russian GDP shrank 1.29 percent on quarter in the first three months of 2015. The economy contracted for the third straight quarter, revised data from the statistical office showed.

Data for the previous two quarters was revised to show the economy declined 0.55 percent and 0.34 percent respectively in the fourth and third quarter of 2014 (from 0 percent each reported earlier).

In the first three months of 2015, the wholesale and retail trade sector recorded the highest decrease (-10.35 percent) while real estate activities fell 1.17 percent and financial services dropped 5.2 percent.

In contrast, manufacturing rose 0.64 percent and mining went up 2.76 percent.

Year-on-year, the economy contracted 2.2 percent, worse than a preliminary 1.9 percent decline previously reported. 

Joana Taborda | joana.taborda@tradingeconomics.com
6/15/2015 6:23:55 PM


Recent Releases

Russian Economy Stalls for 2nd Straight Quarter
The Russian GPD stagnated for the second consecutive quarter in the last three months of 2014 as a rebound in manufacturing was not enough to offset a drop in mining and construction.
Published on 2015-04-09

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.
Published on 2014-12-12

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 1860.60 2079.02 2079.02 195.91 USD Billion [+]
GDP Growth Rate -1.29 -0.55 4.10 -5.40 percent [+]
GDP Annual Growth Rate -2.20 0.40 12.10 -11.20 percent [+]
GDP Constant Prices 9527.50 12007.50 12007.50 6567.40 RUB Billion [+]
GDP per capita 6843.91 6923.45 6923.45 3282.79 USD [+]
Gross Fixed Capital Formation 5640.70 3685.90 5640.70 8.70 RUB Billion [+]
GDP per capita PPP 23292.91 23561.37 23561.37 11173.03 USD [+]
Gdp From Agriculture 154.20 409.80 750.00 141.40 RUB Billion [+]
Gdp From Construction 280.80 719.30 758.00 216.40 RUB Billion [+]
Gdp From Manufacturing 1488.60 1794.60 1794.60 1022.90 RUB Billion [+]
Gdp From Mining 867.90 900.70 934.70 693.30 RUB Billion [+]
Gdp From Public Administration 457.00 458.80 473.10 426.00 RUB Billion [+]
Gdp From Transport 786.10 902.20 999.70 584.60 RUB Billion [+]
Gdp From Utilities 298.50 292.40 346.00 176.30 RUB Billion [+]
Gross National Product 54013599.20 49926068.70 54013599.20 2251977.50 RUB Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -0.20 Mar/15 0.30 4.50 -4.20 percent [+]
Canada -0.10 Mar/15 0.60 3.33 -1.80 percent [+]
China 1.30 Mar/15 1.50 2.50 1.30 percent [+]
Euro Area 0.40 Mar/15 0.40 1.30 -2.90 percent [+]
France 0.60 Mar/15 0.10 7.70 -5.00 percent [+]
Germany 0.30 Mar/15 0.70 2.10 -3.70 percent [+]
India 4.10 Mar/15 3.10 7.40 -3.40 percent [+]
Indonesia -0.18 Mar/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Mar/15 0.00 6.00 -3.50 percent [+]
Japan 1.00 Mar/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Mar/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.60 Mar/15 0.90 2.00 -2.20 percent [+]
Russia -1.29 Mar/15 -0.55 4.10 -5.40 percent [+]
South Korea 0.80 Mar/15 0.30 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.53 -1.60 percent [+]
Switzerland -0.20 Mar/15 0.50 1.90 -2.20 percent [+]
Turkey 1.30 Mar/15 0.80 6.69 -7.57 percent [+]
United Kingdom 0.40 Mar/15 0.80 5.00 -2.70 percent [+]
United States -0.20 Mar/15 2.20 16.90 -10.00 percent [+]