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

The Gross Domestic Product (GDP) in Russia contracted 1.90 percent in the first quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 3.51 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.

      Forecast
Russia GDP Annual Growth Rate
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
-1.90 0.40 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 - 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 Friday, May 22, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-12-11 01:00 PM Q3 0.7% 0.8% 0.7% 0.2%
2015-04-01 02:00 PM Q4 0.4% 0.9% (R) 0.2%
2015-05-15 02:00 PM Q1 -1.9% 0.4% 0.4%


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 .

The slowdown was better than the Economy Ministry projection of 2.2 percent decline and almost in line with forecasts from the Prime Minister office.  

The economy is expected to shrink 2.8 percent in 2015, estimates from the Economy Minister showed, following a 1.3 percent contraction in 2014. However, the GDP is expected to return to growth in the end of the year. Since the beginning of the year, the ruble gained more than 16 percent to the USD and prices of crude oil recovered slightly. Meanwhile, the central bank cut rates three times aiming to boost consumption.

Joana Taborda | joana.taborda@tradingeconomics.com
5/15/2015 4:47:49 PM


Recent Releases

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 2096.78 2017.47 2096.78 195.90 USD Billion [+]
GDP Growth Rate 0.00 0.00 4.10 -5.40 percent [+]
GDP Annual Growth Rate -1.90 0.40 12.10 -11.20 percent [+]
GDP Constant Prices 12007.50 11504.70 12007.50 6567.40 RUB Billion [+]
GDP per capita 6923.45 6848.70 6923.45 3282.79 USD [+]
Gross Fixed Capital Formation 5640.70 3685.90 5640.70 8.70 RUB Billion [+]
GDP per capita PPP 23564.21 23309.80 23564.21 11173.09 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 1.00 Feb/15 0.90 5.00 -5.60 percent [+]
France 0.70 Feb/15 0.00 12.50 -3.92 percent [+]
Germany 1.10 Feb/15 1.60 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 4.71 Feb/15 5.01 7.16 1.56 percent [+]
Italy 0.00 Feb/15 -0.50 10.30 -6.90 percent [+]
Japan -1.40 Feb/15 -0.90 9.40 -9.40 percent [+]
Mexico 2.50 Feb/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.40 Feb/15 1.40 5.80 -4.40 percent [+]
Russia -1.90 Feb/15 0.40 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.60 Feb/15 2.00 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 2.40 Feb/15 3.00 9.80 -5.80 percent [+]
United States 3.00 Feb/15 2.40 13.40 -4.10 percent [+]