Markets Actual Q3 Q4 Q1 Q2 2023
Currency 60.00 65.67 71.28 77.36 83.97 98.92
Government Bond 10Y (%) 9.18 9.42 9.67 9.92 10.18 10.73

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.80 -2 -1.5 -2 1 1
GDP Annual Growth Rate (%) -4.00 -7 -10.5 -5 -3 -3
Unemployment Rate (%) 3.90 5.4 5.5 5.8 6.2 6.5
Inflation Rate (%) 15.10 15 14 12 10 7
Inflation Rate Mom (%) -0.39 0.2 0.4 0.4 0.6 0.6
Interest Rate (%) 8.00 7.5 6 6 6 6
Balance of Trade (USD Million) 21173.00 31000 21500 19000 21000 3200
Current Account (USD Million) 70100.00 30000 20000 18000 10000 15000
Current Account to GDP (% of GDP) 6.80 8 8 6 2 3
Government Debt to GDP (% of GDP) 18.20 20 20 23 23 23
Government Budget (% of GDP) 0.80 -2 -2 -1.7 -1.7 -0.7
Business Confidence (points) -2.70 -1 -1 -1 -1 -1
Services PMI (points) 54.70 50.1 48.7 48.7 51 51
Manufacturing PMI (points) 50.30 47.2 49.5 48.9 49.8 50.1
Consumer Confidence (points) -31.00 -9 -8 -8 -4 -6
Retail Sales MoM (%) 1.10 0.1 10.5 5.5 3 12.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 13.00 13 13 13 13 13

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.80 -2 -1.5 -2 1 1
GDP Annual Growth Rate (%) -4.00 -7 -10.5 -5 -3 -3
GDP (USD Billion) 1775.80 1778 1778 1600 1600 1600
GDP Constant Prices (RUB Billion) 21357.20 22260 23652 20289 20716 22942
Gross Fixed Capital Formation (RUB Billion) 3737.10 4562 6722 3550 3625 6521
GDP per capita (USD) 10219.75 11900 11900 11900 11900 11000
GDP per capita PPP (USD) 27969.68 26800 26800 26800 26800 26800
Full Year GDP Growth (%) 4.70 -7 -7 -4 -4 -5
GDP From Agriculture (RUB Billion) 448.70 1301 896 426 435 869
GDP From Construction (RUB Billion) 758.70 1124 1795 721 736 1741
GDP From Manufacturing (RUB Billion) 2594.60 2795 3096 2465 2517 3003
GDP From Mining (RUB Billion) 2003.40 1731 1860 1903 1943 1804
GDP From Public Administration (RUB Billion) 1656.90 1553 1532 1574 1607 1486
GDP From Transport (RUB Billion) 1391.00 1381 1276 1321 1349 1238
GDP From Utilities (RUB Billion) 664.30 443 604 631 644 586

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 3.90 5.4 5.5 5.8 6.2 6.5
Employed Persons (Million ) 72.00 70.5 71 71.2 71.2 71
Unemployed Persons (Million ) 3.00 3.1 3.1 3.1 3.1 3.2
Employment Rate (%) 59.80 59.3 59.6 59.3 59.3 59.1
Labor Force Participation Rate (%) 62.10 62.9 63.1 63.1 63.1 63.8
Productivity (%) -0.40 2 2 2 2 2.5
Wages (RUB/Month) 62457.00 54140 77994 66089 62457 79242
Wages in Manufacturing (RUB/Month) 57851.00 50873 63699 62048 57851 64718
Wage Growth (%) -6.10 -1 0 -1 0 1.6
Minimum Wages (RUB/Month) 15279.00 15279 17000 17000 17000 17000
Population (Million) 145.55 145 145 145 145 145
Retirement Age Women 56.50 57 57 57.5 57.5 57.5
Retirement Age Men 61.50 62 62 62.5 62.5 62.5

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 15.10 15 14 12 10 7
Inflation Rate Mom (%) -0.39 0.2 0.4 0.4 0.6 0.6
Consumer Price Index CPI (points) 229.90 232 236 255 254 253
Core Inflation Rate (%) 18.40 16.5 12 10 9 6
GDP Deflator (points) 162.14 164 167 182 178 179
Producer Prices (points) 268.33 305 311 328 301 340
Producer Prices Change (%) 11.30 23.8 21.1 16 12 9.5
Food Inflation (%) 16.76 17 16 14 12 9

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 8.00 7.5 6 6 6 6
Interbank Rate (%) 13.25 12.75 11.25 11.25 11.25 11.25
Money Supply M2 (RUB Billion) 69623.20 72600 76900 75000 78500 83200
Foreign Exchange Reserves (USD Million) 576904.00 550500 531000 502500 520000 518000
Central Bank Balance Sheet (RUB Million) 46036337.00 62000000 64000000 64000000 68000000 69000000
Loans to Private Sector (RUB Million) 39702093.00 35612471 35533373 37716988 38511030 34467372
Deposit Interest Rate (%) 6.97 6.47 4.97 4.97 4.97 4.97
Cash Reserve Ratio (%) 5.00 6 8 8 8 8

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (USD Million) 21173.00 31000 21500 19000 21000 3200
Current Account (USD Million) 70100.00 30000 20000 18000 10000 15000
Current Account to GDP (% of GDP) 6.80 8 8 6 2 3
Imports (USD Million) 24754.00 20500 25000 23000 27000 26800
Exports (USD Million) 45927.00 42000 44000 44000 30000 30000
Capital Flows (USD Million) 58000.00 14200 14200 14200 14200 14200
Gold Reserves (Tonnes) 2298.53 2315 2400 2400 2400 2420
Crude Oil Production (BBL/D/1K) 10608.00 10000 9800 9700 9600 9000
Foreign Direct Investment (USD Million) 12433.00 2000 2000 2000 1000 2000

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 18.20 20 20 23 23 23
Government Budget (% of GDP) 0.80 -2 -2 -1.7 -1.7 -0.7
Government Budget Value (RUB Billion) 412.62 -650 -650 -450 -700 -850
Government Spending (RUB Billion) 4294.10 4037 3911 4079 4165 3794
Government Debt (RUB Billion) 15873.58 16000 16000 16000 18000 20000
Fiscal Expenditure (RUB Million) 6206782.00 36700000 530000000 11000000 25000000 57000000

Taxes Actual Q3 Q4 Q1 Q2 2023
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 Q3 Q4 Q1 Q2 2023
Business Confidence (points) -2.70 -1 -1 -1 -1 -1
Services PMI (points) 54.70 50.1 48.7 48.7 51 51
Manufacturing PMI (points) 50.30 47.2 49.5 48.9 49.8 50.1
Industrial Production (%) -1.80 -2.1 -3 -2 1 1
Industrial Production Mom (%) 2.00 3.5 3 3 4 3
Manufacturing Production (%) -4.50 3.2 3 3 3 3
Capacity Utilization (%) 61.00 64 65 65 65 65
Car Registrations 32412.00 140000 150000 150000 80000 150000
Mining Production (%) 2.30 4.5 5 5 5 1.1
Composite PMI (points) 52.20 50.6 50.1 51 50.5 52
Bankruptcies (Companies) 2831.00 2800 3000 3000 3000 3000
Corporate Profits (RUB Billion) 14590.20 21500 25000 25000 16000 29000

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) -31.00 -9 -8 -8 -4 -6
Retail Sales MoM (%) 1.10 0.1 10.5 5.5 3 12.5
Retail Sales YoY (%) -9.60 -4 -3 -2 1 1.5
Consumer Spending (RUB Billion) 12542.70 12337 12348 11916 12166 11977
Consumer Credit (RUB Million) 25011345.00 22315405 22385154 23760778 24261005 21713599
Bank Lending Rate (%) 9.07 8.57 7.07 7.07 7.07 7.07
Gasoline Prices (USD/Liter) 0.86 0.89 0.92 0.96 0.99 0.99
Households Debt To GDP (% of GDP) 21.70 19 19 19 18.9 18.5

Housing Actual Q3 Q4 Q1 Q2 2023
Housing Index (%) 23.33 4 -1 -2 -3 -4
Housing Starts (Millions Square Metre) 8.10 4.8 17.8 17.8 17.8 18
Home Ownership Rate (%) 89.00 85 85 85 85 85
Construction Output (%) 0.10 4 4.2 4.2 3 4.2


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Russia Forecast - was last updated on Tuesday, August 16, 2022.