The Russian GDP expanded by 4.9% from the corresponding period of the previous year in the fourth quarter of 2023, slowing from an upwardly revised 5.7% expansion in the third quarter. The data continued to point to some extent of recovery for the output of Russia, carried by industries that benefited from high military spending by the government, in addition to base effects from the start of sanctions from the West. The GDP slowed for government expenditure (6.9% vs 9% in Q3) and household consumption (7.3% vs 9.7%), while fixed capital formation accelerated (8.1% vs 7.7%). source: Federal State Statistics Service
The Gross Domestic Product (GDP) in Russia expanded 4.90 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 2.64 percent from 1996 until 2023, 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. Russia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
The Gross Domestic Product (GDP) in Russia expanded 4.90 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Russia is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia GDP Annual Growth Rate is projected to trend around 1.20 percent in 2025, according to our econometric models.