Russia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Russia expanded 0.80 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Russia is reported by the Federal State Statistics Service. GDP Annual Growth Rate in Russia averaged 3.71 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. 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. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.80 2.00 12.10 -11.20 1.19 | 2014/06 1996 - 2014 Percent Quarterly

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Russia GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-01 01:00 PM Russia
GDP Growth Rate YoY-Second Estimate
Q2 2013 1.2% 1.6% 1.2% 1.2%
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%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate -0.50 2014-03-31 0.90 4.10 -5.40 0.30 2014-06-30 Percent [+]
GDP Annual Growth Rate 0.80 2014-03-31 2.00 12.10 -11.20 1.19 2014-06-30 Percent [+]
GDP per capita 6834.00 2012-12-31 6633.07 6834.00 3300.04 7210.83 2014-06-30 USD [+]
GDP per capita PPP 15177.27 2012-12-31 14731.03 15177.27 7328.87 16014.15 2014-06-30 USD [+]
GDP Constant Prices 11946.20 2013-11-15 11410.30 279185.60 9645.80 29092.96 2014-06-30 RUB Billion [+]
Gross Fixed Capital Formation 5486.20 2013-11-15 3653.60 5486.20 8.70 4637.73 2014-06-30 RUB Billion [+]
GDP 2014.80 2012-12-31 1899.10 2014.80 195.90 2354.56 2014-06-30 USD Billion [+]
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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.

The Minister also said that fixed capital investment shrank 4.8 percent year-on-year in the first quarter of 2014. On the other hand, retail sales grew 3.2 percent. 

Seasonally-adjusted GDP contracted 0.5 percent, following a 0.9 percent expansion in the last three months of 2013.

Earlier in April, the IMF estimated the GDP will expand 1.3 percent in 2014, the same as in 2013, but down from a 2 percent prediction made in January. 

Mr. Ulyukayev said later that growth may come below 1 percent if current political tension continues. The United States and European Union have imposed asset freezes and visa bans on individuals and a bank and threatened economic sanctions, which may result in further capital outflows.  

Joana Taborda | joana.taborda@tradingeconomics.com
4/16/2014 3:41:39 PM

RECENT RELEASES

Russian GDP Growth Beats Expectations in Q4
The Russian economy advanced at a faster than expected 2 percent year-on-year in the last three months of 2013, up from a revised 1.3 percent expansion in the previous period. GDP growth in 2013 as a whole was 1.3 percent. Published on 2014-04-01

Russian GDP Confirmed Up by 1.2% In Q3
In the third quarter of 2013, Russia's economy expanded by 1.2 percent over the same quarter of the previous year, in line with the preliminary release and the same growth rate as in the previous three-month period. Published on 2013-12-31


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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