Russia's gross domestic product grew by 1.6 percent year-on-year in November 2019, easing from a revised 2.3 percent expansion in the previous month, mainly due to a slowdown in industrial production (0.3 percent vs 2.6 percent) and construction output (0.2 percent vs 1.0 percent). Meanwhile, retail sales rose at faster pace (2.3 percent vs 1.7 percent).

Leading Economic Index in Russia averaged 1.91 percent from 2005 until 2019, reaching an all time high of 9.90 percent in February of 2008 and a record low of -11.80 percent in May of 2009. This page provides the latest reported value for - Russia GDP YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Ministry of Economic Development

Leading Economic Index 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 Leading Economic Index in Russia to stand at 1.50 in 12 months time. In the long-term, the Russia GDP YoY is projected to trend around 2.30 percent in 2020, according to our econometric models.


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Russia GDP YoY

Actual Previous Highest Lowest Dates Unit Frequency
1.60 2.30 9.90 -11.80 2005 - 2019 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-09-19 10:15 AM Aug 1.6% 1.8% 1.4%
2019-10-17 02:45 PM Sep 2% 1.7% 1.3% 1.5%
2019-11-20 02:45 PM Oct 2.2% 1.9% 2.4%
2019-12-18 03:30 PM Nov 1.6% 2.3% 1.7%
2020-01-28 03:00 PM Dec 1.6% 1.5%


News Stream
2019-11-20
Russia GDP Grows Faster in October
Russia's gross domestic product grew by 2.2 percent year-on-year in October 2019, following a 1.9 percent expansion in the previous month, boosted by construction (1.0 percent vs 0.8 percent in September) and retail trade (1.6 percent vs 0.7 percent). Also, agriculture activity continued to increase firmly (5.2 percent vs 5.6 percent), while industrial output advanced at softer rate (2.6 percent vs 3.0 percent) due to a slowdown in mining (0.9 percent vs 2.5 percent).

2019-09-19
Russia GDP Growth Eases to 1.6% in August
Russia's gross domestic product expanded 1.6 percent year-on-year in August 2019, easing from a revised 1.8 percent growth in the previous month, mainly due to a slowdown in retail trade (0.8 percent vs 1.1 percent) and agriculture (2.8 percent vs 5.9 percent). In addition, freight turnover continued to contract (-0.7 percent vs -1.1 percent). Meanwhile, output rose faster for industrial production (2.9 percent vs 2.8 percent) and construction (0.3 percent vs 0.2 percent).

2019-08-19
Russia GDP Growth Accelerates in July
Russia's gross domestic product expanded 1.7 percent from a year earlier in July 2019, following a revised 0.8 percent growth in the previous month, mainly boosted by agriculture (5.9 percent vs 1.1 percent in June) and construction (0.2 percent vs 0.1 percent). On the other hand, output increased at a softer pace for retail trade (1 percent vs 1.4 percent) and industrial activity (2.8 percent vs 3.3 percent), while freight turnover contracted (-1.2 percent vs 0.4 percent).

2019-07-18
Russian GDP Growth Accelerates to 0.7% in June
Russia's gross domestic product increased 0.7 percent from a year earlier in June 2019 , following a downwardly revised 0.1 percent growth in the previous month, supported by industrial production (3.3 percent vs 0.9 percent in May), agriculture (1.1 percent vs 1.0 percent), and retail trade (1.4 percent, the same as in May). Meanwhile, output growth slowed for both freight turnover (0.3 percent vs 0.9 percent) and construction (0.1 percent vs 0.2 percent). Considering the second quarter as a whole, GDP grew 0.8 percent, compared to a 0.5 percent expansion in the first quarter, preliminary estimates from the Russian Economy Ministry showed.

2019-06-21
Russia GDP Growth Slows to 18-Month Low in May
Russia's gross domestic product growth eased to 0.2 percent year-on-year in May 2019 from an upwardly revised 1.7 percent in the previous month. A slowdown was seen in industrial output (0.9 percent from 4.6 percent in April); transport (1.1 percent from 2.5 percent); retail trade (1.4 percent from 1.6 percent) and mining (2.8 percent from 4.2 percent) amid a downward trend in the oil industry mainly due to Russia's fulfilment of its obligations under the OPEC agreement.

2019-05-24
Russia GDP Growth Accelerates in April
Russia's gross domestic product growth accelerated to 1.6 percent year-on-year in April 2019 from a downwardly revised 0.2 percent in the previous month and well above market consensus of 1 percent. Industrial output rose the most since May 2017 (4.6 percent vs 1.2 percent in March), while retail trade growth slowed (1.2 percent vs 1.6 percent) and construction activity was flat (vs 0.2 percent in March).


Russia GDP YoY
GDP YoY measures the change in the value of the goods and services produced by the country economy compared to the corresponding month in the previous year.

Russia Business Last Previous Highest Lowest Unit
Business Confidence -6.00 -5.00 7.00 -20.00 points [+]
Manufacturing PMI 47.50 45.60 54.70 45.60 points [+]
Services PMI 53.10 55.60 58.40 41.30 points [+]
Industrial Production 2.10 0.30 17.70 -16.90 percent [+]
Industrial Production Mom 8.90 -2.50 24.40 -26.10 percent [+]
Manufacturing Production 0.10 3.70 27.10 -28.10 percent [+]
Capacity Utilization 64.00 65.00 66.00 38.00 percent [+]
Changes in Inventories 1441.30 846.30 2009.30 -1157.20 RUB Billion [+]
Total Vehicle Sales 179235.00 156848.00 291020.00 39497.00 Units [+]
Car Production 139.50 134.70 187.00 18.20 Thousand Units [+]
Car Registrations 179235.00 156848.00 291020.00 39497.00 [+]
Leading Economic Index 1.60 2.30 9.90 -11.80 percent [+]
Internet Speed 11846.17 11607.38 12288.46 1909.63 KBps [+]
IP Addresses 19163474.00 19200437.00 19200437.00 2137082.00 IP [+]
Steel Production 5620.00 5950.00 6804.00 3130.00 Thousand Tonnes [+]
Mining Production 1.40 0.90 10.80 -7.70 percent [+]
Cement Production 5.46 5.96 7.70 1.60 Millions of Tonnes [+]
Competitiveness Index 66.74 65.62 66.74 4.13 Points [+]
Competitiveness Rank 43.00 43.00 67.00 43.00 [+]
Composite Pmi 51.80 52.90 58.30 44.70 points [+]
Bankruptcies 3088.00 2937.00 3697.00 1103.00 Companies [+]
Corporate Profits 13001.90 11689.20 13797.20 -224.00 RUB Billion [+]
Corruption Index 28.00 28.00 29.00 21.00 Points [+]
Corruption Rank 137.00 138.00 154.00 47.00 [+]
Ease of Doing Business 28.00 31.00 124.00 28.00 [+]