Russia GDP Annual Growth Rate 1996-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Russia expanded 0.80 percent in the second quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 3.67 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.


Russia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.80 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 Thursday, October 30, 2014.

Russia's GDP Growth Slows to 0.8% in Q2

Russia’s economy expanded 0.8 percent year-on-year in the first three months of 2014, slightly below 0.9 percent increase in the previous quarter, preliminary data from the Federal Statistics Service showed.

Russia's economic growth has been slowing since the first quarter of 2012 when it advanced 4.8 percent. The preliminary estimates came slightly better than a 1.2 percent estimate released last month by the Economy Ministry. 

In July, The International Monetary Fund has downgraded Russia’s economic growth forecast to 0.2% from 1.3% for 2014 and to 1% from 2.3% for 2015 due to weakening domestic demand amid rising geopolitical tension. 

The ruble depreciated almost 10 percent against the US dollar since the beginning of the year. As a result, the central bank already increased rates three times this year to 8 percent, aiming to curb inflationary pressures from a weakening currency.

Anna Fedec |
8/11/2014 4:17:32 PM

Recent Releases

Russian Economy Advances 0.9% in Q1
Russia’s GDP expanded 0.9 percent year-on-year in the first three months of 2014, down from a 2 percent increase in the previous quarter. It is the lowest growth rate in five quarters, hurt by a fall in investment. Published on 2014-05-15

Russia GDP Growth Slows Sharply in Q1
Russian economy advanced an annual 0.8 percent in the first quarter of 2014, well below the 2 percent expansion recorded in the previous three-month period, Russia's Economy Minister Alexei Ulyukayev said addressing the parliament. Published on 2014-04-16

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-12 12:00 PM Russia
GDP Growth Rate YoY- P.
Q3 2013 1.2% 1.2% 1.4% 1.05%
2013-12-31 10:30 AM Russia
GDP Growth Rate YoY
Q3 2013 1.2% 1.2% 1.2% 1.05%
2014-04-01 01:30 PM Russia
GDP Growth Rate YoY
Q4 2013 2.0% 1.3% (R) 1.2% 1.37%
2014-05-15 01:00 PM Russia
GDP Growth Rate YoY
Q1 2014 0.9% 2.0% 0.8% 0.8%

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 [+]