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

The Gross Domestic Product (GDP) in Russia contracted 2.20 percent in the first quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 3.51 percent from 1996 until 2015, 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
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Actual Previous Highest Lowest Dates Unit Frequency
-2.20 0.40 12.10 -11.20 1996 - 2015 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. Content for - Russia GDP Annual Growth Rate - was last refreshed on Monday, July 6, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-04-01 02:00 PM Q4 0.4% 0.9% (R) 0.2%
2015-05-15 02:00 PM Q1 -1.9% 0.4% 0.4%
2015-06-15 02:00 PM Q1 -2.2% 0.4% -1.9%


Russian Economy Contracts More than Expected


Russian GDP shrank 2.2 percent year-on-year in the first three months of 2015, worse than a 1.9 percent contraction previously reported. It is the first decline since the last quarter of 2009, final data from the statistical office showed.

Manufacturing contracted 0.6 percent and construction fell 4.1 percent. Among services, wholesale and retail trade decreased 7.6 percent, real estate activities went down 3.3 percent, transport and communication decreased 0.4 percent and financial activities fell 3.9 percent. 

Year-on-year, only mining (up 4.9 percent), agriculture, hunting and forestry (up 2.9 percent), public administration and military security (up 0.3 percent), electricity, water and gas production (up 0.1 percent) increased. 

On a quarter-on-quarter seasonally adjusted basis, the economy contracted for the third consecutive period by 1.29 percent. 

The Economy Minister expects the GDP to shrink between 2.5 and 2.8 percent in 2015.

Joana Taborda | joana.taborda@tradingeconomics.com
6/15/2015 4:43:37 PM


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Russian GDP Shrinks For The First Time in 6-Years
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Russia GDP Last Previous Highest Lowest Unit
GDP 2096.78 2017.47 2096.78 195.90 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 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 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 Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.30 Mar/15 2.50 9.00 -3.40 percent [+]
Brazil -1.60 Mar/15 -0.20 10.10 -3.15 percent [+]
Canada 2.06 Mar/15 2.63 8.80 -3.70 percent [+]
China 7.00 Mar/15 7.30 14.20 3.80 percent [+]
Euro Area 1.00 Mar/15 0.90 5.00 -5.60 percent [+]
France 0.82 Mar/15 0.03 12.50 -3.95 percent [+]
Germany 1.10 Mar/15 1.60 5.20 -6.80 percent [+]
India 7.50 Mar/15 6.60 11.40 -5.20 percent [+]
Indonesia 4.71 Mar/15 5.01 7.16 1.56 percent [+]
Italy 0.10 Mar/15 -0.50 10.30 -6.90 percent [+]
Japan -0.90 Mar/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.50 Mar/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.50 Mar/15 1.60 5.80 -4.40 percent [+]
Russia -2.20 Mar/15 0.40 12.10 -11.20 percent [+]
South Korea 2.50 Mar/15 2.70 18.20 -7.30 percent [+]
Spain 3.10 Jun/15 2.70 5.80 -4.40 percent [+]
Switzerland 1.10 Mar/15 1.90 7.30 -3.70 percent [+]
Turkey 2.30 Mar/15 2.60 12.60 -14.70 percent [+]
United Kingdom 2.90 Mar/15 3.40 9.80 -5.80 percent [+]
United States 2.90 Mar/15 2.40 13.40 -4.10 percent [+]