Markets Actual Q4 Q1 Q2 Q3 2021
Currency 76.11 76.62 77.12 77.63 78.15 79.18
Stock Market (points) 2816.70 2750 2697 2646 2595 2494
Government Bond 10Y (%) 5.99 6.04 6.08 6.13 6.18 6.27

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 0.30 1 0.3 0.5 0.6 0.7
GDP Annual Growth Rate (%) -8.00 -2.2 1.1 7.5 3.6 3
Unemployment Rate (%) 6.30 6.2 6.3 6 6.7 5.5
Inflation Rate (%) 3.70 3.9 3.6 3.3 3.4 3.5
Inflation Rate Mom (%) -0.10 0.3 0.4 0.3 0.3 0.4
Interest Rate (%) 4.25 4 4 4 4.25 4.5
Balance of Trade (USD Million) 3718.00 19900 19900 10100 12700 18600
Current Account (USD Million) 2500.00 8900 22300 14500 11400 13500
Current Account to GDP (%) 3.90 2 1.5 1.5 1.5 1.5
Government Debt to GDP (%) 12.20 17.2 18.5 18.5 18.5 18.5
Government Budget (% of GDP) 1.80 -5.2 -3.7 -3.7 -3.7 -3.7
Business Confidence (points) -5.00 -7 -3 -2 -2 -5
Manufacturing PMI (points) 48.90 50.7 51 53.5 52.5 51
Services PMI (points) 53.70 56.5 55.7 54 53 52.3
Consumer Confidence (points) -22.00 -14 -9 -10 -10 -9
Retail Sales MoM (%) 8.20 15.5 7 1.8 1.8 18
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 0.30 1 0.3 0.5 0.6 0.7
GDP Annual Growth Rate (%) -8.00 -2.2 1.1 7.5 3.6 3
GDP (USD Billion) 1699.90 1250 1580 1580 1580 1580
GDP Constant Prices (RUB Billion) 20076.20 23930 24602 20684 21582 24481
Gross Fixed Capital Formation (RUB Billion) 3895.90 4743 7160 3299 3508 4853
GDP per capita (USD) 12011.50 10500 11000 11000 11000 11000
GDP per capita PPP (USD) 27043.90 25900 25900 26800 26800 26800
GDP From Agriculture (RUB Billion) 601.70 1505 933 429 647 1539
GDP From Construction (RUB Billion) 1045.50 1432 1872 716 1124 1465
GDP From Manufacturing (RUB Billion) 2454.40 2798 3011 2359 2638 2862
GDP From Mining (RUB Billion) 1700.40 1960 2017 1928 1828 2005
GDP From Public Administration (RUB Billion) 1665.90 1651 1577 1668 1791 1689
GDP From Transport (RUB Billion) 1181.70 1542 1408 1372 1270 1577
GDP From Utilities (RUB Billion) 478.80 477 627 631 515 488

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 6.30 6.2 6.3 6 6.7 5.5
Employed Persons (Million ) 70.50 70.5 70.9 71.1 71.4 71.6
Unemployed Persons (Million ) 4.78 3.96 3.96 3.96 3.96 3.96
Employment Rate (%) 58.30 60.4 60.4 60.4 60.4 60.7
Labor Force Participation Rate (%) 61.70 61.5 61.8 62.1 62.5 62.7
Productivity (%) 2.80 -4.5 1.7 1.7 1.7 1.7
Wages (RUB/Month) 47649.00 63173 51559 52957 50691 64436
Wages in Manufacturing (RUB/Month) 45925.00 51506 47089 46660 46706 52536
Wage Growth (%) 0.10 1.5 1.2 1.6 1.7 2
Minimum Wages (RUB/Month) 12130.00 12130 12900 12900 12900 12900
Population (Million) 146.80 147 147 147 147 147
Retirement Age Women 55.50 56 56 56 56 56.5
Retirement Age Men 60.50 61 61 61 61 61.5

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 3.70 3.9 3.6 3.3 3.4 3.5
Inflation Rate Mom (%) -0.10 0.3 0.4 0.3 0.3 0.4
Consumer Price Index CPI (points) 609.40 615 622 628 630 637
Core Consumer Prices (points) 100.30 100 100 100 100 100
Core Inflation Rate (%) 3.27 3.8 3.8 3.8 3.8 4
GDP Deflator (points) 116.00 123 128 120 120 127
Producer Prices (points) 662.70 742 673 638 672 757
Producer Prices Change (%) 0.00 -2 3 2 2 3
Food Inflation (%) 4.90 4.5 4.5 4.5 4.5 5.5

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 4.25 4 4 4 4.25 4.5
Interbank Rate (%) 4.60 8.48 4.02 4.02 4.02 8.48
Money Supply M2 (RUB Billion) 55294.00 49200 49200 49200 49200 49800
Foreign Exchange Reserves (USD Million) 583426.00 544300 544300 544300 544300 565000
Central Bank Balance Sheet (RUB Million) 49994110.00 51441000 51958000 52123000 52223000 52257000
Loans to Private Sector (RUB Million) 32003133.00 29421346 29088235 31182184 33729248 29960882
Deposit Interest Rate (%) 3.24 5.85 3.26 3.26 3.26 5.85
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Million) 3718.00 19900 19900 10100 12700 18600
Current Account (USD Million) 2500.00 8900 22300 14500 11400 13500
Current Account to GDP (%) 3.90 2 1.5 1.5 1.5 1.5
Imports (USD Million) 19545.00 23100 20900 19300 20500 23900
Exports (USD Million) 23263.00 30000 31000 32000 35000 37000
Capital Flows (USD Million) 676.49 14200 14200 14200 14200 14200
Gold Reserves (Tonnes) 2299.90 2465 2465 2465 2465 2680
Crude Oil Production (BBL/D/1K) 8925.00 11000 11500 11500 11500 11500
Weapons Sales (USD Million) 4718.00 8500 8500 8500 8500 8500
Foreign Direct Investment (USD Million) -1611.00 -1600 2000 5000 6000 7000

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 12.20 17.2 18.5 18.5 18.5 18.5
Government Budget (% of GDP) 1.80 -5.2 -3.7 -3.7 -3.7 -3.7
Government Budget Value (RUB Billion) -1777.85 -800 -800 -800 -800 -850
Government Spending (RUB Billion) 4252.00 4069 4134 4274 4544 4163
Government Revenues (RUB Million) 23670774.80 34600000 34600000 34600000 34600000 35800000
Fiscal Expenditure (RUB Million) 25237420.70 38400000 8300000 16000000 25000000 37700000
Military Expenditure (USD Million) 64193.00 70000 70000 70000 70000 70000

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 30.00 30 30 30 30 30
Social Security Rate For Companies (%) 30.00 30 30 30 30 30
Social Security Rate For Employees (%) 0.00 0 0 0 0 0

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) -5.00 -7 -3 -2 -2 -5
Manufacturing PMI (points) 48.90 50.7 51 53.5 52.5 51
Services PMI (points) 53.70 56.5 55.7 54 53 52.3
Industrial Production (%) -5.00 -2 3.5 10.5 2.5 3.8
Industrial Production Mom (%) 0.00 4.2 4.2 4.2 4.2 3.8
Manufacturing Production (%) -4.10 2.9 2.9 2.9 2.9 3.2
Capacity Utilization (%) 62.00 58 60 61 62 63
Changes in Inventories (RUB Billion) 1113.00 -520 -520 -520 -520 -440
Car Production (Thousand Units) 82.40 105 120 135 125 130
Car Registrations 154409.00 178000 178000 178000 178000 185000
Leading Economic Index (%) -3.30 2 2 2 2 2.3
Mining Production (%) -11.80 4.2 4.2 4.2 4.2 3.4
Composite Pmi (points) 53.70 56.1 55 54 52 53.2
Bankruptcies (Companies) 2538.00 3090 3090 3090 3090 3120
Corporate Profits (RUB Billion) 5370.20 7900 2600 5800 10350 14000

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -22.00 -14 -9 -10 -10 -9
Retail Sales MoM (%) 8.20 15.5 7 1.8 1.8 18
Retail Sales YoY (%) -3.00 -1.9 2.5 5.8 4.5 4.2
Consumer Spending (RUB Billion) 9411.10 12675 13084 11989 12748 12967
Consumer Credit (RUB Million) 18584205.00 15312769 17181669 18404371 19473127 15664963
Bank Lending Rate (%) 6.15 8.98 6.13 6.13 6.13 8.98
Gasoline Prices (USD/Liter) 0.59 0.61 0.61 0.57 0.55 0.58

Housing Actual Q4 Q1 Q2 Q3 2021
Housing Index (%) 8.00 4.2 4.2 4.2 4.2 3.6
Construction Output (%) -0.60 -3.8 -1 -1 2.8 3.5
Housing Starts (Million Sq Meter) 7.30 20.1 20.1 20.1 20.1 22.4
Home Ownership Rate (%) 89.00 86 85.5 85.5 85.5 85.5


This page has economic forecasts for Russia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Russia economy.