Russia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Russia expanded 1.20 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.

   
 
  LIST  
 EXPORT DATA  API

Russia GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.20 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.


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.

Preliminary estimates from the Federal Statistics Service came slightly better than a 0.8 percent estimate released last month by the Economy Ministry. In April, the minister said retail sales grew 3.2 percent while fixed capital investment shrank 4.8 percent year-on-year. 

Sanctions imposed by the United States and the European Union to Russia led to several capital outflows: net capital outflows from the private sector increased sharply in the first quarter of 2014 to USD 50.6 billion, from USD 27.5 billion a year earlier, data from the central bank showed. 

The ruble depreciated more than 5 percent against the US dollar since the beginning of the year. As a result, the central bank already increased rates twice this year to 7.5 percent, aiming to curb inflationary pressures from a weakening currency. 

According to Mr. Ulyukayev, the economy contracted 0.5 percent quarter-on-quarter in the first three months of 2014 and is likely to shrank between 0-0.1 percent in the second quarter. 

Later in April, the IMF said Russia is already in recession. The OECD recently lowered its 2014 GDP growth forecasts for Russia to 0.5 percent from a previous 2.3 percent.

Joana Taborda | joana.taborda@tradingeconomics.com
5/15/2014 2:20:44 PM


Recent Releases

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

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


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%


GDP Last Previous Highest Lowest Unit
GDP 2096.78 2017.47 2096.78 195.90 USD Billion [+]
GDP Growth Rate -0.30 0.30 4.10 -5.40 Percent [+]
GDP Annual Growth Rate 1.20 0.90 12.10 -11.20 Percent [+]
GDP Constant Prices 9797.30 11946.20 11946.20 6567.40 RUB Billion [+]
GDP per capita 6923.45 6848.70 6923.45 3282.79 USD [+]
Gross Fixed Capital Formation 2051.80 5486.20 5486.20 8.70 RUB Billion [+]
GDP per capita PPP 15177.27 14731.03 15177.27 7328.87 USD [+]





Overview    |     Worldbank    |     Calendar    |     Countries    |     Indicators    |     News