Russia's gross domestic product (GDP) was estimated to have increased by 1.9 percent in April 2025 compared to the same month of the previous year. In April 2023, the monthly GDP growth was positive for the first time since March 2022. In April 2020, the country’s GDP fell by nearly 10 percent as a result of the crisis caused by the coronavirus (COVID-19) pandemic as well as the oil price crash. Russian economy outlook for 2025 Russia’s annual GDP was projected to increase by 1.35 percent in 2025. The level of prices in the country was expected to continue growing, with the inflation rate forecast at 4.7 percent in that year. Post-pandemic economic recovery in selected countries Countries across the world saw a sharp decrease in GDP in 2020 due to the COVID-19 pandemic. In 2023, the European Commission foresaw an increase in all European Union (EU) members' GDP, ranging from the lowest of 1.1 percent in Sweden and Italy to the highest of 5 percent in Ireland. In Latin America, the most significant increase in GDP was recorded in Peru, at 5.2 percent in 2022.

The Gross Domestic Product (GDP) in Russia was worth 2021.42 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Russia represents 1.92 percent of the world economy. This dataset provides the latest reported value for - Russia GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Monthly GDP YoY in Russia increased to 1.90 percent in April from 1.10 percent in March of 2025. This dataset includes a chart with historical data for Russia Monthly GDP YoY.

During the week ending January 27, 2025, consumer prices in Russia were 1.14 percent higher than at the beginning of the year. The year-to-date inflation rate continuously increased until mid-May 2022 and from mid-September 2022, reflecting the economic impact of sanctions on Russia due to the war in Ukraine.

Russia GDP for 2023 was 2.021 trillion US dollars, a 10.79% decline from 2022.

<ul style='margin-top:20px;'>

<li>Russia GDP for 2022 was <strong>2.266 trillion US dollars</strong>, a <strong>22.93% increase</strong> from 2021.</li>
<li>Russia GDP for 2021 was <strong>1.843 trillion US dollars</strong>, a <strong>23.46% increase</strong> from 2020.</li>
<li>Russia GDP for 2020 was <strong>1.493 trillion US dollars</strong>, a <strong>11.81% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In May 2025, the inflation rate in Russia stood at **** percent compared to the same month in the previous year, showing an increase. The rate has been decreasing since March 2025. The highest rate during the observed period was recorded in April 2022, at **** percent. The term inflation means the devaluation of money caused by a permanent increase in the price level for products (consumer goods, investment goods). The Consumer Price Index (CPI) shows the price development for private expenses and shows the current level of inflation when increasing. Russia's economy, an outlook The Russian economy was expected to grow by *** percent in 2025 despite the Western sanctions over the war in Ukraine that began in February 2022. At the same time, consumer prices were projected to grow by around **** percent in 2025 relative to the previous year. In 2024, the inflation rate was estimated at **** percent. Prices in Russia Russia’s economy is highly dependent on and affected by the price of oil. The price of the Urals crude oil stood at approximately ***** U.S. dollars per barrel in April 2025, having demonstrated a decrease from the previous month. The highest producer price index (PPI) was recorded in the electricity and gas supply sector, with a price growth rate of over ** percent in September 2024.

Russia's gross domestic product (GDP) was estimated to grow by 4.1 percent in 2024 compared to the previous year. To compare, in 2022, the country's GDP dropped by around 1.44 percent. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. Trade balance of Russia With the exception of 2009, Russia’s GDP was relatively stable year-over-year, however at a higher rate prior to the financial crisis. In 2012, Russia reported a trade surplus, meaning that more goods and services combined were exported than imported. However, Russia primarily profited from exporting goods, earning the majority of its revenues from its trade balance of goods, while the nation posted a trade deficit on its services, its highest loss recorded since 2003. Russia imports and exports its products and services primarily to neighboring countries or countries in Europe. Russia’s most important trade partner is arguably China, potentially due to shared borders and strong political relations between the two nations. China is accountable for roughly 19.2 percent of all of Russia’s imports, however only makes up roughly 8.3 percent of the country’s total exports. China has become an important import partner for many nations around the world as well as a country where larger companies can manufacture goods at a cheaper price.

Exports in Russia decreased to 33060 USD Million in April from 34559 USD Million in March of 2025. This dataset provides - Russia Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Russia Unemployment Rate: Urban data was reported at 1.800 % in Mar 2025. This records a decrease from the previous number of 2.100 % for Feb 2025. Russia Unemployment Rate: Urban data is updated monthly, averaging 4.300 % from Aug 2009 (Median) to Mar 2025, with 188 observations. The data reached an all-time high of 7.800 % in Jan 2010 and a record low of 1.800 % in Mar 2025. Russia Unemployment Rate: Urban data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Global Database’s Russian Federation – Table RU.GB007: Unemployment Rate. Since January 2018, the data cover the population 15 aged and above, but before that: 15-72. [COVID-19-IMPACT]

The Gross Domestic Product per capita in Russia was last recorded at 39753.46 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Russia, when adjusted by Purchasing Power Parity is equivalent to 224 percent of the world's average. This dataset provides the latest reported value for - Russia GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

According to the forecast, the introduction of digital solutions, including 5G, in 17 key sectors of Russia's real economy would bring 26 billion U.S. dollars in 2025. Furthermore, the economic impact was predicted to increase in the following years, exceeding 70 billion U.S. dollars in 2030.

Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data was reported at 30.764 % in Mar 2025. This records an increase from the previous number of 29.826 % for Feb 2025. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data is updated monthly, averaging 34.000 % from Jun 2012 (Median) to Mar 2025, with 97 observations. The data reached an all-time high of 60.742 % in Feb 2022 and a record low of 20.000 % in Feb 2018. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

Russia recorded a trade surplus of 9040 USD Million in April of 2025. This dataset provides - Russia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of January 27, 2025, the year-over-year inflation rate in Russia was measured at 8.15 percent, remaining unchanged from the previous week. The growth in consumer prices at the end of February and in March 2022 was caused by the war in Ukraine and subsequent international sanctions on Russia. In April 2024, the inflation rate in Russia reached 7.8 percent relative to the corresponding period of the previous year.

Russia MED Forecast: Wage Fund of Organizations: YoY: Baseline Scenario data was reported at 7.250 % in 2026. This records a decrease from the previous number of 7.308 % for 2025. Russia MED Forecast: Wage Fund of Organizations: YoY: Baseline Scenario data is updated yearly, averaging 10.649 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 13.946 % in 2022 and a record low of 5.884 % in 2020. Russia MED Forecast: Wage Fund of Organizations: YoY: Baseline Scenario data remains active status in CEIC and is reported by Ministry of Economic Development of the Russian Federation. The data is categorized under Russia Premium Database’s Forecast – Forecast of The Social and Economic Development of The Russian Federation.

Russia Federal Government Revenue: Year to Date: Natural Resources Use Payments data was reported at 94.882 RUB bn in Feb 2025. This records an increase from the previous number of 61.286 RUB bn for Jan 2025. Russia Federal Government Revenue: Year to Date: Natural Resources Use Payments data is updated monthly, averaging 92.003 RUB bn from Jan 2005 (Median) to Feb 2025, with 242 observations. The data reached an all-time high of 1,427.338 RUB bn in Dec 2024 and a record low of 0.900 RUB bn in Jan 2005. Russia Federal Government Revenue: Year to Date: Natural Resources Use Payments data remains active status in CEIC and is reported by Federal Treasury. The data is categorized under Global Database’s Russian Federation – Table RU.FB001: Federal Government Revenue: ytd.

GDP from Manufacturing in Russia decreased to 4553.40 RUB Billion in the first quarter of 2025 from 5845.60 RUB Billion in the fourth quarter of 2024. This dataset provides the latest reported value for - Russia Gdp From Manufacturing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Overnight Lending Rate: Bank of Russia data was reported at 22.000 % pa in 19 May 2025. This stayed constant from the previous number of 22.000 % pa for 18 May 2025. Overnight Lending Rate: Bank of Russia data is updated daily, averaging 9.000 % pa from Jun 1998 (Median) to 19 May 2025, with 9826 observations. The data reached an all-time high of 22.000 % pa in 19 May 2025 and a record low of 5.250 % pa in 21 Mar 2021. Overnight Lending Rate: Bank of Russia data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under High Frequency Database’s Lending Rates – Table RU.MB002: Lending Rate: Bank of Russia Operations. [COVID-19-IMPACT]

Economic Activity Rate: 3 Month Moving Average: NC: Republic of Ingushetia data was reported at 70.000 % in Mar 2025. This stayed constant from the previous number of 70.000 % for Dec 2024. Economic Activity Rate: 3 Month Moving Average: NC: Republic of Ingushetia data is updated monthly, averaging 71.700 % from Aug 2009 (Median) to Mar 2025, with 186 observations. The data reached an all-time high of 80.300 % in Dec 2017 and a record low of 57.900 % in Aug 2009. Economic Activity Rate: 3 Month Moving Average: NC: Republic of Ingushetia data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GB005: Economic Activity Rate: by Region: Three Month Moving Average. Since January 2018, the data covers the population aged 15 and above, while prior to January 2018 it used to cover the population aged 15-72.

Inflation Expectations in Russia decreased to 13 percent in June from 13.40 percent in May of 2025. This dataset provides - Russia Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.