The Russian GDP expanded by 4.1% in 2024, the same rate as the upwardly revised value from the previous year, with support from the soaring amount of government expenditure and investment in its military as it continues its war against Ukraine. Government expenditure grew by 4.5%, accelerating firmly from the 3.8% in the previous year, and gross fixed capital formation rose by 10.2% from 7.7%, aimed at the military. In the meantime, household expenditure expanded by 5.5%, slowing sharply from the 7.5% in 2023 as higher inflation drove consumers to face crisis-level interest rates by the central bank, which ended the year at 21%. In the meantime, the GDP deflator totaled 8.9%. source: Federal State Statistics Service
Full Year GDP Growth in Russia increased to 4.10 percent in 2024 from 3.60 percent in 2023. Full Year GDP Growth in Russia averaged 1.67 percent from 2012 until 2024, reaching an all time high of 5.90 percent in 2021 and a record low of -2.70 percent in 2020. This page includes a chart with historical data for Russia Full Year Gdp Growth. Russia Full Year GDP Growth - values, historical data and charts - was last updated on September of 2025.
Full Year GDP Growth in Russia increased to 4.10 percent in 2024 from 3.60 percent in 2023. Full Year GDP Growth in Russia is expected to reach 1.60 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Full Year GDP Growth is projected to trend around 1.20 percent in 2026, according to our econometric models.