Russia's gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period and missing the Ministry of Economic Development's early estimate of 0.8 percent, preliminary data showed. That was the weakest growth rate since the last quarter of 2016, as output expanded at softer rates for all major sectors. GDP Annual Growth Rate in Russia averaged 2.98 percent from 1996 until 2019, 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 expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Russia to stand at 1.60 in 12 months time. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.