Markets Actual Q1 Q2 Q3 Q4 2022
Currency 74.26 74.75 75.24 75.73 76.24 77.25
Stock Market (points) 3414.13 3333 3269 3207 3145 3023
Government Bond 10Y (%) 6.68 6.73 6.78 6.84 6.89 6.99

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 1.50 1.1 1.8 1.4 0.7 0.5
GDP Annual Growth Rate (%) -3.40 1.1 7.5 3.6 3 3.2
Unemployment Rate (%) 5.80 6.3 6 5.7 5.5 5.5
Inflation Rate (%) 5.70 5.6 4.6 4.1 3.8 3.5
Inflation Rate Mom (%) 0.80 0.5 0.3 0.3 0.4 0.3
Interest Rate (%) 4.25 4.25 4.25 4.25 4.25 4.75
Balance of Trade (USD Million) 10556.00 19900 10100 12700 18600 18600
Current Account (USD Million) 5500.00 22300 14500 11400 13500 15000
Current Account to GDP (%) 3.90 1.9 1.9 1.9 1.9 2.2
Government Debt to GDP (%) 12.20 18.5 18.5 18.5 18.5 18.3
Government Budget (% of GDP) 1.80 -2.5 -2.5 -2.5 -2.5 -0.5
Business Confidence (points) -1.00 -3 -2 -2 -5 -1
Manufacturing PMI (points) 51.50 52 53.5 52.5 51 52
Services PMI (points) 52.20 52 54 53 52.3 52.3
Consumer Confidence (points) -26.00 -16 -14 -10 -9 -8
Retail Sales MoM (%) -21.50 7 1.8 -0.2 18 18
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 1.50 1.1 1.8 1.4 0.7 0.5
GDP Annual Growth Rate (%) -3.40 1.1 7.5 3.6 3 3.2
GDP (USD Billion) 1699.90 1580 1580 1580 1580 1710
GDP Constant Prices (RUB Billion) 22688.80 24451 20684 21582 24481 25184
Gross Fixed Capital Formation (RUB Billion) 4695.80 7116 3299 4188 4853 7330
GDP per capita (USD) 12011.50 11000 11000 11000 11000 12100
GDP per capita PPP (USD) 27043.90 25900 26800 26800 26800 27200
GDP From Agriculture (RUB Billion) 1443.90 928 429 647 1539 955
GDP From Construction (RUB Billion) 1266.70 1860 716 1124 1465 1916
GDP From Manufacturing (RUB Billion) 2804.30 2993 2359 2638 2862 3082
GDP From Mining (RUB Billion) 1700.70 2004 1928 1828 2005 2064
GDP From Public Administration (RUB Billion) 1649.90 1568 1668 1791 1689 1615
GDP From Transport (RUB Billion) 1353.80 1399 1372 1270 1577 1441
GDP From Utilities (RUB Billion) 450.90 623 631 515 488 642

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 5.80 6.3 6 5.7 5.5 5.5
Employed Persons (Million ) 70.60 70.9 71.1 71.4 71.6 72.2
Unemployed Persons (Million ) 4.32 4.9 4.6 4.5 4.4 4.4
Employment Rate (%) 58.40 58.5 60 60 60.7 60.7
Labor Force Participation Rate (%) 62.00 62.5 62.4 62.5 62.7 62.7
Productivity (%) 2.00 1.7 1.7 1.7 1.7 2
Wages (RUB/Month) 69278.00 51559 52957 50096 50259 51365
Wages in Manufacturing (RUB/Month) 46201.00 47089 46660 46198 46501 47524
Wage Growth (%) 4.60 1.2 1.6 1.7 2 2.2
Minimum Wages (RUB/Month) 12130.00 12900 12900 12900 12900 14100
Population (Million) 146.80 147 147 147 147 147
Retirement Age Women 55.50 56 56 56 56.5 56.5
Retirement Age Men 60.50 61 61 61 61.5 61.5

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 5.70 5.6 4.6 4.1 3.8 3.5
Inflation Rate Mom (%) 0.80 0.5 0.3 0.3 0.4 0.3
Consumer Price Index CPI (points) 630.40 633 636 634 645 667
Core Consumer Prices (points) 100.60 100 100 100 100 100
Core Inflation Rate (%) 5.04 3.8 3.8 3.8 4 4
GDP Deflator (points) 123.15 131 121 128 128 132
Producer Prices (points) 705.00 673 642 679 757 723
Producer Prices Change (%) 6.70 3 2.7 2.4 3 3
Food Inflation (%) 8.00 4.3 4.3 4.7 5.2 5.2

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 4.25 4.25 4.25 4.25 4.25 4.75
Interbank Rate (%) 4.48 4.52 4.52 4.52 4.52 5.02
Money Supply M2 (RUB Billion) 57598.40 56000 55800 55900 56000 55800
Foreign Exchange Reserves (USD Million) 586266.00 544300 544300 544300 565000 565000
Central Bank Balance Sheet (RUB Million) 51492441.00 51958000 52123000 52223000 52257000 55658000
Loans to Private Sector (RUB Million) 33374109.00 28909780 31182184 33943715 33879865 29777073
Deposit Interest Rate (%) 3.42 3.42 3.42 3.42 3.42 3.92
Cash Reserve Ratio (%) 8.00 8 8 8 8 8

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Million) 10556.00 19900 10100 12700 18600 18600
Current Account (USD Million) 5500.00 22300 14500 11400 13500 15000
Current Account to GDP (%) 3.90 1.9 1.9 1.9 1.9 2.2
Imports (USD Million) 24948.00 20900 19300 20500 23900 24100
Exports (USD Million) 35504.00 31000 32000 35000 37000 39000
Capital Flows (USD Million) 5087.03 14200 14200 14200 14200 14200
Gold Reserves (Tonnes) 2298.53 2465 2465 2465 2680 2680
Crude Oil Production (BBL/D/1K) 9622.00 11500 11500 11500 11500 11500
Weapons Sales (USD Million) 4718.00 8500 8500 8500 8500 8500
Foreign Direct Investment (USD Million) 882.00 2000 5000 6000 7000 9000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 12.20 18.5 18.5 18.5 18.5 18.3
Government Budget (% of GDP) 1.80 -2.5 -2.5 -2.5 -2.5 -0.5
Government Budget Value (RUB Billion) -185.13 -800 -800 -800 -850 -850
Government Spending (RUB Billion) 4262.40 4109 4274 4571 4163 4232
Government Revenues (RUB Million) 37856707.30 34600000 34600000 34600000 35800000 35800000
Fiscal Expenditure (RUB Million) 42150920.50 8300000 16000000 25000000 37700000 37700000
Military Expenditure (USD Million) 64193.00 70000 70000 70000 70000 70000

Taxes Actual Q1 Q2 Q3 Q4 2022
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 Q1 Q2 Q3 Q4 2022
Business Confidence (points) -1.00 -3 -2 -2 -5 -1
Manufacturing PMI (points) 51.50 52 53.5 52.5 51 52
Services PMI (points) 52.20 52 54 53 52.3 52.3
Industrial Production (%) -2.50 3.5 10.5 2.5 3.8 3.4
Industrial Production Mom (%) -21.10 6.2 2.8 0.5 3.8 3
Manufacturing Production (%) -1.00 1.5 3.2 3.8 4 4
Capacity Utilization (%) 62.00 60 61 62 63 63
Changes in Inventories (RUB Billion) 1510.50 -520 -520 -520 -440 -440
Car Production (Thousand Units) 127.60 120 135 125 130 140
Car Registrations 120081.00 178000 178000 178000 185000 185000
Leading Economic Index (%) -2.40 2 2 2 2.3 2.3
Mining Production (%) -7.10 -3 2.5 2.5 3.4 2.6
Composite PMI (points) 52.60 51 54 52 53.2 52.9
Bankruptcies (Companies) 2467.00 3090 3090 3090 3120 3120
Corporate Profits (RUB Billion) 12421.10 2600 5800 10350 14000 15000

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) -26.00 -16 -14 -10 -9 -8
Retail Sales MoM (%) -21.50 7 1.8 -0.2 18 18
Retail Sales YoY (%) -0.10 2.5 5.8 4.5 4.2 3.7
Consumer Spending (RUB Billion) 11692.20 13004 11989 10117 12967 13394
Consumer Credit (RUB Million) 19801255.00 17076260 18404371 19664627 15664963 17588548
Bank Lending Rate (%) 6.18 6.18 6.18 6.18 6.18 6.68
Gasoline Prices (USD/Liter) 0.65 0.6 0.57 0.54 0.51 0.49

Housing Actual Q1 Q2 Q3 Q4 2022
Housing Index (%) 8.00 4.2 4.2 4.2 3.6 3.6
Construction Output (%) 0.10 1 1.5 2.8 3.5 3.5
Housing Starts (Million Sq Meter) 5.70 20.1 20.1 20.1 22.4 22.4
Home Ownership Rate (%) 89.00 85.5 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.