Russia GDP Annual Growth Rate 1996-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Russia contracted around 2 percent in the first quarter of 2015 over the same quarter of the previous year, according to Prime Minister Medvedev estimates. GDP Annual Growth Rate in Russia averaged 3.59 percent from 1996 until 2014, 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. GDP Annual Growth Rate in Russia is reported by the Federal State Statistics Service.

     Forecast  
Russia GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.90 12.10 -11.20 1996 - 2014 percent Quarterly
Russia is the fifth largest economy in the world and is a leading exporter of oil and natural gas. In Russia, 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, repair of motor vehicles, motorcycles and personal and household goods (17 percent of total GDP); public administration, health and education (12 percent); real estate (9 percent) and transport storage and communications (7 percent). Industry contributes 40 percent to total output. Mining (11 percent of GDP), manufacturing (13 percent) and construction (4 percent) are the most important industry segments. Agriculture accounts for the remaining 2 percent. This page provides - Russia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Russia GDP Annual Growth Rate - was last refreshed on Saturday, April 25, 2015.


Russia 2014 GDP Growth at 5-Year Low


The Russian economy advanced 0.6 percent in 2014 down from 1.3 percent in 2013. It is the lowest growth rate since a 2009 recession.

The economy slowed for the fourth straight year mainly due to a fall in investment (-2 percent), revised data from the Federal Statistics Office confirmed. 

In the fourth quarter of 2014, the GDP grew 0.4 percent year-on-year, down from a upwardly revised 0.9 percent expansion in the previous period. Only household consumption contributed positively to the growth (up 1 percent) while government spending, investment and exports shrank 0.2 percent, 1.2 percent and 2.3 percent respectively.

In 2014, sanctions imposed by the United States and the European Union in connection with lower prices of commodities keep dragging foreign investment and exports down. Exports have been on a downward trend since the beginning of 2014 and touched the lowest value in four years in January of 2015.

According to Bank of Russia estimates, the GDP will fall by 3.5-4.0 percent in 2015. Also, the Economy Ministry expects it to shrink by 3 percent. So far, monthly data showed the GDP shrank an annual 1.5 percent in January of 2015 and 2.3 percent in February of 2015. 

The central bank already cut the benchmark interest rate twice this year aiming to boost growth. In February, the Finance Minister said the government has allocated 2.3 trillion roubles (USD 37.51 billion) to an anti-crisis plan.


Joana Taborda | joana.taborda@tradingeconomics.com
4/1/2015 3:53:32 PM


Recent Releases

Russia GDP Growth Confirmed at 0.7% in Q3
The Russian economy advanced 0.7 percent year-on-year in the third quarter of 2014, matching preliminary estimates from the Federal Statistics Office. Growth was mainly driven by the manufacturing and transport sectors. Published on 2014-12-11

Russia GDP Growth Beats Expectations
The Russian economy advanced 0.7 percent year-on-year in the third quarter of 2014, down from a 0.8 percent expansion reported from April to June, according to the preliminary figures from the Federal Statistics Office. The number came well above market expectations and the central bank estimate of 0.2 percent. Published on 2014-11-13


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-13 01:00 PM
GDP Growth Rate YoY - Prel  Q3
0.7% 0.8% 0.3% 0.2%
2014-12-11 01:00 PM
GDP Growth Rate YoY  Q3
0.7% 0.8% 0.7% 0.2%
2015-04-01 02:00 PM
GDP Growth Rate YoY  Q4
0.4% 0.9% (R) 0.2%


Russia GDP Last Previous Highest Lowest Unit
GDP 2096.78 2017.47 2096.78 195.90 USD Billion [+]
GDP Growth Rate 0.00 0.00 4.10 -5.40 percent [+]
GDP Annual Growth Rate 0.40 0.90 12.10 -11.20 percent [+]
GDP Constant Prices 12007.50 11504.70 12007.50 6567.40 RUB Billion [+]
GDP per capita 6923.45 6848.70 6923.45 3282.79 USD [+]
Gross Fixed Capital Formation 5640.70 3685.90 5640.70 8.70 RUB Billion [+]
GDP per capita PPP 23564.21 23309.80 23564.21 11173.09 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 0.90 Nov/14 0.80 5.00 -5.50 percent [+]
France 0.24 Nov/14 0.41 12.50 -3.92 percent [+]
Germany 1.60 Nov/14 1.20 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 5.01 Nov/14 4.92 7.16 1.56 percent [+]
Italy -0.50 Nov/14 -0.50 10.30 -6.90 percent [+]
Japan -0.80 Nov/14 -1.40 9.40 -9.40 percent [+]
Mexico 2.60 Nov/14 2.20 8.50 -8.10 percent [+]
Netherlands 1.40 Nov/14 1.00 5.80 -4.40 percent [+]
Russia 0.40 Nov/14 0.90 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.00 Nov/14 1.60 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 3.00 Nov/14 2.80 9.80 -5.80 percent [+]
United States 2.40 Nov/14 2.70 13.40 -4.10 percent [+]