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

The Gross Domestic Product (GDP) in Russia contracted 4.60 percent in the second quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 3.40 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
-4.60 -2.20 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. 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. Content for - Russia GDP Annual Growth Rate - was last refreshed on Friday, August 28, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2015-08-10 03:10 PM Q2 -4.6% -2.2% -5%
2015-11-13 03:00 PM Q3 -4.6%


Russian Economy Contracts 4.6% in Q2


Russian GDP shrank 4.6 percent year-on-year in the second quarter of 2015 compared to a 2.2 percent decline in the previous three months, according to the preliminary estimate released by Rosstat. It is the largest contraction in six years, marking the first recession since the financial crisis in 2009.

Russia is enduring its first recession in six years after last year’s currency crisis and sanctions over Ukraine closed access to capital markets and caused a surge in inflation. The ruble has depreciated about 43 percent against the dollar in the past 12 months. Since January, the inflation has been above 15 percent and retail sales have been declining sharply. Also, from March to June, industrial production dropped on average 5 percent each month.

Outlook for the Russian economy has deteriorated so far in the third quarter as commodity prices remian low. Russian economy relies on oil and gas for about half of its budget revenue. Last month, the central bank said that its forecast for a 3.2 percent contraction this year may worsen as domestic demand remains very weak. The country is set for a two-year recession if crude prices remain at USD60 through 2016, including a 1.2 percent slump next year, the central bank said.

Anna Fedec | anna@tradingeconomics.com
8/10/2015 11:59:36 PM


Recent Releases

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.
Published on 2015-06-15

Russian GDP Shrinks For The First Time in 6-Years
The Russian economy contracted 1.9 percent year-on-year in the first three months of 2015, preliminary data from the statistical office showed. It is the first decline since the last quarter of 2009 prompted by a sharp drop in oil prices and sanctions imposed over the Ukraine crisis .
Published on 2015-05-15

Russia 2014 GDP Growth at 5-Year Low
The Russian economy advanced 0.6 percent in 2014 down from 1.3 percent in 2013. It is the lowest growth rate since a 2009 recession.
Published on 2015-04-01

Russia GDP Growth Confirmed at 0.7% in Q3
The Russian economy advanced 0.7 percent year-on-year in the third quarter of 2014, matching preliminary estimates from the Federal Statistics Office. Growth was mainly driven by the manufacturing and transport sectors.
Published on 2014-12-11


Russia GDP Last Previous Highest Lowest Unit
GDP 1860.60 2079.02 2079.02 195.91 USD Billion [+]
GDP Growth Rate -1.29 -0.55 4.10 -5.40 percent [+]
GDP Annual Growth Rate -4.60 -2.20 12.10 -11.20 percent [+]
GDP Constant Prices 9527.50 12007.50 12007.50 6567.40 RUB Billion [+]
GDP per capita 6843.91 6922.79 6922.79 3282.86 USD [+]
Gross Fixed Capital Formation 2179.90 5640.70 5640.70 8.70 RUB Billion [+]
GDP per capita PPP 23292.91 23561.37 23561.37 11173.03 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 Jun/15 7.00 14.20 3.80 percent [+]
Euro Area 1.20 Jun/15 1.00 5.00 -5.60 percent [+]
France 1.00 Jun/15 0.82 12.50 -3.95 percent [+]
Germany 1.60 Jun/15 1.20 6.00 -7.90 percent [+]
India 7.50 Mar/15 6.60 11.40 -5.20 percent [+]
Indonesia 4.67 Jun/15 4.71 7.16 1.56 percent [+]
Italy 0.50 Jun/15 0.10 10.30 -6.90 percent [+]
Japan 0.70 Jun/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.20 Jun/15 2.50 8.50 -8.10 percent [+]
Netherlands 1.60 Jun/15 2.50 5.80 -4.40 percent [+]
Russia -4.60 Jun/15 -2.20 12.10 -11.20 percent [+]
South Korea 2.20 Jun/15 2.50 18.20 -7.30 percent [+]
Spain 3.10 Jun/15 2.70 5.60 -4.30 percent [+]
Switzerland 1.20 Jun/15 1.10 7.30 -3.70 percent [+]
Turkey 2.30 Mar/15 2.60 12.60 -14.70 percent [+]
United Kingdom 2.60 Jun/15 2.90 9.80 -5.80 percent [+]
United States 2.70 Jun/15 2.90 13.40 -4.10 percent [+]