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.

Russia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-13 01:00 PM GDP Growth Rate YoY Prel 1.3% 1.9% 1.5%
2018-12-12 01:00 PM GDP Growth Rate YoY Final 1.5% 1.9% 1.3% 1.3%
2019-04-02 01:00 PM GDP Growth Rate YoY 2.7% 2.2% 2.1%
2019-05-17 01:00 PM GDP Growth Rate YoY Prel 0.5% 2.7% 0.8%
2019-06-18 01:00 PM GDP Growth Rate YoY Final 2.7% 0.5% 0.5%
2019-08-09 01:00 PM GDP Growth Rate YoY Prel 1.5%
2019-09-09 01:00 PM GDP Growth Rate YoY Final 1.5%



Russia GDP Growth Slows to Over 2-Year Low in Q1

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, preliminary data showed. That was the weakest growth rate since the last quarter of 2016.

GDP growth for the first quarter came in below the Ministry of Economic Development's early estimate of 0.8 percent. According to figures released last month, a slowdown had been expected for all major sectors: agriculture (1.1 percent vs 4.1 percent in Q4); construction (0.2 percent vs 4.1 percent); retail trade (1.8 percent vs 2.8 percent); freight turnover of transport (2.1 percent vs 2.3 percent); and industry (2.1 percent vs 2.7 percent).

The Federal State Statistics Service did not provide any further details on the revised figure.


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/17/2019 1:24:02 PM



Russia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.70 4.10 -5.40 percent [+]
GDP Annual Growth Rate 0.50 2.70 12.10 -11.20 percent [+]
GDP 1577.52 1284.70 2297.10 195.90 USD Billion [+]
GDP Constant Prices 24553.50 23114.50 24553.50 13332.00 RUB Billion [+]
Gross Fixed Capital Formation 7593.90 4581.70 7593.90 1709.70 RUB Billion [+]
GDP per capita 11441.00 11279.60 11803.70 5505.60 USD [+]
GDP per capita PPP 24765.95 24416.60 25551.10 11917.80 USD [+]
GDP From Agriculture 889.70 1453.50 1541.90 141.40 RUB Billion [+]
GDP From Construction 2043.80 1383.40 2043.80 216.40 RUB Billion [+]
GDP From Manufacturing 2927.70 2702.40 3055.80 1022.90 RUB Billion [+]
GDP From Mining 2084.50 1892.90 2084.50 693.30 RUB Billion [+]
GDP From Public Administration 1643.00 1594.40 1643.00 426.00 RUB Billion [+]
GDP From Transport 1460.80 1489.20 1489.20 584.60 RUB Billion [+]
GDP From Utilities 630.50 460.70 665.80 176.30 RUB Billion [+]


Russia GDP Annual Growth Rate

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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 2.70 12.10 -11.20 1996 - 2019 percent Quarterly




Country Last Previous
China 6.40 Mar/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
Saudi Arabia 3.60 Dec/18
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Singapore 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -6.20 Dec/18


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