Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed. Growth was mainly supported by agriculture, industry, and wholesale trade.

GDP Annual Growth Rate in Russia averaged 2.94 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. 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. source: Federal State Statistics Service

GDP Annual Growth Rate in Russia is expected to be 1.60 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 2.00 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.

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Russia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 0.90 12.10 -11.20 1996 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-08-12 01:00 PM GDP Growth Rate YoY Prel Q2 0.9% 0.5% 0.9%
2019-09-09 01:00 PM GDP Growth Rate YoY Final Q2 0.9% 0.5% 0.9% 0.9%
2019-11-13 01:00 PM GDP Growth Rate YoY Prel Q3 1.7% 0.9% 1.6% 1.4%
2019-12-12 01:00 PM GDP Growth Rate YoY Final Q3 1.7% 1.7% 1.7% 1.7%
2020-02-03 01:00 PM GDP Growth Rate YoY Prel Q4 1.7% 1.8%


News Stream
2019-11-13
Russia Q3 GDP Growth Beats Forecasts
Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed. Growth was mainly supported by agriculture, industry, and wholesale trade.

2019-09-09
Russia Q2 GDP Growth Confirmed at 0.9%
Russia’s annual economic growth was confirmed at 0.9 percent in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period. Industrial activity was mainly supported by utilities output; and financial & insurance activities growth accelerated while real estate activities and public administration & defence rebounded.

2019-08-12
Russian Economy Grows 0.9% in Q2
Russia's GDP expanded by 0.9 percent year-on-year in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period, preliminary data showed. Industrial production was the main driver of growth.

2019-06-18
Russia Q1 GDP Growth Confirmed at 2-Year Low
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 in line with preliminary estimates. That was the weakest growth rate since the last quarter of 2016.


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.