Russia GDP Annual Growth Rate  1996-2017 | Data | Chart | Calendar

Russian economy shrank 0.4 percent year-on-year in the third quarter of 2016, following 0.6 percent fall in the previous period, and in line with preliminary estimates. It was the smallest contraction in seven quarters, driven by lower drop in construction, public administration, transport and accelerated growth for mining and quarrying and agriculture. GDP Annual Growth Rate in Russia averaged 3.08 percent from 1996 until 2016, 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 GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-09 01:00 PM Q2 -0.6% -1.2% -0.6% -0.6%
2016-11-14 01:00 PM Q3 -0.4% -0.6% -0.8%
2016-12-13 01:00 PM Q3 -0.4% -0.6% -0.4% -0.4%
2017-02-02 01:00 PM Q4 -0.4% -0.3%
2017-04-03 01:00 PM Q4 -0.4% -0.3%
2017-05-17 01:00 PM Q1 0.1%




Russia's GDP Contraction Confirmed At 0.4% YoY In Q3


Russian economy shrank 0.4 percent year-on-year in the third quarter of 2016, following 0.6 percent fall in the previous period, and in line with preliminary estimates. It was the smallest contraction in seven quarters, driven by lower drop in construction, public administration, transport and accelerated growth for mining and quarrying and agriculture. Russia remained stuck in recession, led by low oil prices, and sanctions over Ukraine that closed access to capital markets.

Construction fell less by 2.9 percent (-9.5 percent in Q2); public administration and military security declined 1.3 percent (-1.9 percent in Q2), and transport and communication remained unchanged (-1 percent in Q2).  

Also, mining and quarrying rose 2.2 percent (0.3 percent in Q2), agriculture production went up 3.2 percent (2 percent in Q2); and production and distribution of electricity, gas and water rose 1.8 percent (0.5 percent in Q2). 

Meanwhile, manufacturing fell 1.2 percent (+0.3 percent in Q2); wholesale and retail trade decreased at a faster 3 percent (-1.2 percent in Q2); and  financial activities declined 1 percent (1.3 percent in Q2). 

Federal State Statistics Service | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/13/2016 1:51:49 PM



Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.57 -1.31 4.10 -5.40 percent [+]
GDP Annual Growth Rate -0.40 -0.60 12.10 -11.20 percent [+]
GDP 1331.20 2052.80 2231.80 195.90 USD Billion [+]
GDP Constant Prices 15754.50 14522.10 17171.10 6567.40 RUB Billion [+]
Gross Fixed Capital Formation 2684.40 2434.10 4746.40 1709.70 RUB Billion [+]
GDP per capita 11038.82 11490.87 11615.71 5505.63 USD [+]
GDP per capita PPP 23895.34 24873.89 25144.10 11917.85 USD [+]
Gross National Product 58745032.70 54103000.30 58745032.70 2251977.50 RUB Million [+]
GDP From Agriculture 1002.30 344.60 1002.30 141.40 RUB Billion [+]
GDP From Construction 965.00 783.00 1356.00 216.40 RUB Billion [+]
GDP From Manufacturing 1788.00 1780.10 2113.90 1022.90 RUB Billion [+]
GDP From Mining 1284.70 1215.60 1290.10 693.30 RUB Billion [+]
GDP From Public Administration 832.80 830.00 855.30 426.00 RUB Billion [+]
GDP From Transport 1106.00 1007.30 1131.80 584.60 RUB Billion [+]
GDP From Utilities 370.20 370.50 511.10 176.30 RUB Billion [+]



Russia GDP Annual Growth Rate Notes

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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-0.40 -0.60 12.10 -11.20 1996 - 2016 percent Quarterly



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