Russia GDP Annual Growth Rate  1996-2016 | Data | Chart | Calendar

The Russian economy shrank 3.8 percent year-on-year in the fourth quarter of 2015, following a 4.1 percent contraction in the previous period, according to preliminary estimates from the Economic Development Minister Alexey Ulyukayev. It is the worst performance since 2009, as Western sanctions and lower oil prices hurt external trade and public revenues. In 2015, the GDP contracted 3.7 percent, according to figures from the Federal Statistics Service. GDP Annual Growth Rate in Russia averaged 3.23 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.

Russia GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-3.80 -4.10 12.10 -11.20 1996 - 2015 percent Quarterly
Russia is one of the world's leading producers of oil and natural gas and is also a top exporter of metals such as steel and primary aluminum. On the production side, 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 (17 percent of total GDP); and public administration, health and education (12 percent). Industry constitutes 40 percent to total output and agriculture accounts for the remaining 2 percent. This page provides the latest reported value for - Russia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-12-10 01:00 PM Q3 -4.1% -4.6% -4.1% -4.1%
2016-01-25 07:55 AM 2015 -3.7% 0.7%
2016-01-26 02:00 PM Q4 -3.8% -4.1% -3.7%
2016-04-01 01:00 PM Q4 -4.1% -3.8%
2016-05-16 01:00 PM Q1 -2.0%
2016-06-15 01:00 PM Q1

Russian GDP Contraction Confirmed at 4.1% in Q3


Russian economy shrank 4.1 percent year-on-year in the third quarter of 2015, in line with the preliminary estimates, following a 4.3 percent drop in the previous period, final figures showed.

Manufacturing contracted 4.3 percent (-4.8 percent in Q2) and construction fell 8 percent (-6.9 percent in Q2). Among services, wholesale and retail trade decreased 9.1 percent (-9.9 percent in Q2), real estate activities went down 8.5 percent (-5.7 percent in Q2), transport and communication decreased 0.9 percent (-4.1 percent in Q2) and financial activities fell 1.5 percent (-5.2 percent in Q2). Meanwhile, public administration and military security fell 0.4 percent (+1.2 percent in Q2) and utilities 1.9 percent (+1.0 percent).

Year-on-year, only agriculture, hunting and forestry (+2.1 percent from +2.1 percent in Q2) and mining (+0.8 percent against -0.1 percent in Q2) increased. 

On a quarter-on-quarter seasonally adjusted basis, the economy contracted for the fifth consecutive period by 0.57 percent, from upwardly revised 1.3 percent drop.

Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/10/2015 1:33:50 PM

Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.57 -1.31 4.10 -5.40 percent [+]
GDP Annual Growth Rate -3.80 -4.10 12.10 -11.20 percent [+]
GDP 1860.60 2079.02 2079.02 195.91 USD Billion [+]
GDP Constant Prices 11027.80 9978.40 12007.50 6567.40 RUB Billion [+]
Gross Fixed Capital Formation 3882.90 3326.60 5640.70 8.70 RUB Billion [+]
GDP per capita 6843.91 6922.79 6922.79 3282.86 USD [+]
GDP per capita PPP 23292.91 23561.37 23561.37 11173.03 USD [+]
Gross National Product 54013599.20 49926068.70 54013599.20 2251977.50 RUB Million [+]
GDP From Agriculture 765.80 247.00 765.80 141.40 RUB Billion [+]
GDP From Construction 525.30 434.50 758.00 216.40 RUB Billion [+]
GDP From Manufacturing 1639.70 1567.80 1794.60 1022.90 RUB Billion [+]
GDP From Mining 904.30 854.80 934.70 693.30 RUB Billion [+]
GDP From Public Administration 448.80 460.80 473.10 426.00 RUB Billion [+]
GDP From Transport 990.60 871.20 999.70 584.60 RUB Billion [+]
GDP From Utilities 229.50 222.00 346.00 176.30 RUB Billion [+]




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