The Gross Domestic Product (GDP) in Russia was worth 2173.84 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Russia represents 2.05 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 and long-term Russia economic indicators data: historical series and analyst forecasts curated by FocusEconomics.

Key information about Russia Real GDP Growth

• The Gross Domestic Product (GDP) in Russia expanded 1.3 % YoY in Jun 2025, following a growth of 1.5 % in the previous quarter.
• Real GDP Growth YoY data in Russia is updated quarterly, available from Mar 1996 to Jun 2025, with an average rate of 0.8 %.
• The data reached an all-time high of 12.0 % in Dec 1981 and a record low of -0.2 % in Dec 2015.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The Federal State Statistics Service provides Real GDP in local currency at 2021 prices, based on SNA 2008. Real GDP Growth prior to Q1 2012 is calculated from Real GDP at 2008 prices and prior to Q1 2004 from Real GDP at 2003 prices, both based on SNA 1993.


Related information about Russia Real GDP Growth

• In the latest reports, Nominal GDP of Russia reached 612.6 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) increased 3.6 % in Jun 2025.
• GDP Per Capita in Russia reached 13,817.0 USD in Dec 2023.
• Its Gross Savings Rate was measured at 26.1 % in Jun 2025.
• For Nominal GDP contributions, Investment accounted for 25.1 % in Jun 2025.
• Public Consumption accounted for 20.1 % in Jun 2025.
• Private Consumption accounted for 53.8 % in Jun 2025.

Russia's gross domestic product (GDP) was estimated to have increased by 1.2 percent in May 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 five percent in Ireland. In Latin America, the most significant increase in GDP was recorded in Peru, at 5.2 percent in 2022.

Key information about Russia Nominal GDP

• Russia Nominal GDP reached 612.6 USD bn in Jun 2025, compared with 512.0 USD bn in the previous quarter.
• Nominal GDP in Russia is updated quarterly, available from Mar 1993 to Jun 2025, with an average number of 245.4 USD bn.
• The data reached an all-time high of 693.4 USD bn in Dec 2022 and a record low of 24.1 USD bn in Mar 1993.

CEIC converts quarterly Nominal GDP into USD. Federal State Statistics Service provides Nominal GDP in local currency based on SNA 2008. The Bank of Russia average market exchange rate is used for currency conversions. Nominal GDP prior to Q1 2011 is based on SNA 1993.


Related information about Russia Nominal GDP

• In the latest reports, Russia GDP expanded 1.3 % YoY in Jun 2025.
• Its GDP deflator (implicit price deflator) increased 3.6 % in Jun 2025.
• Russia GDP Per Capita reached 13,817.0 USD in Dec 2023.
• Its Gross Savings Rate was measured at 26.1 % in Jun 2025.
• For Nominal GDP contributions, Investment accounted for 25.1 % in Jun 2025.
• Public Consumption accounted for 20.1 % in Jun 2025.
• Private Consumption accounted for 53.8 % in Jun 2025.

Economic Activity Rate: NW: Republic of Karelia data was reported at 57.700 % in 2024. This records a decrease from the previous number of 58.100 % for 2023. Economic Activity Rate: NW: Republic of Karelia data is updated yearly, averaging 67.000 % from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 69.300 % in 2008 and a record low of 57.100 % in 2022. Economic Activity Rate: NW: Republic of Karelia 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.GB006: Economic Activity Rate: by Region: Annual.

Key information about Russia Nominal GDP Growth

• Russia Nominal GDP Growth was reported at 4.727 % in Jun 2025.
• This records a decrease from the previous number of 8.187 % for Mar 2025.
• Russia Nominal GDP Growth data is updated quarterly, averaging -9.796 % from Mar 1994 to Jun 2025, with 126 observations.
• The data reached an all-time high of 544.118 % in Mar 1994 and a record low of -10.715 % in Jun 2020.
• Russia Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. Federal State Statistics Service provides Nominal GDP in local currency based on SNA 2008. Nominal GDP Growth prior to Q1 2012 is based on SNA 1993.

The statistic shows the distribution of the workforce across economic sectors in Russia from 2013 to 2023. In 2023, 5.69 percent of the workforce in Russia was employed in agriculture, 26.38 percent in industry and 67.93 percent in services. Russia’s economy The majority of Russia’s labor force works in the services sector, which accounts for more than half of the jobs in the country. About 30 percent work in the industry sector and the rest in agriculture. Interestingly, Russia is among the leading export countries worldwide and agricultural products, as well as meat, are among the main exported goods. Russia’s economy also profits significantly from selling and exporting fish and sea food. Due to large oil resources, Russia is also among the largest economies and the countries with the largest gross domestic product / GDP worldwide. Subsequently, living and working conditions in Russia should be above average, but for a long time, many Russians have struggled to get by. While conditions seem to improve nowadays, many Russians still live below the poverty line. One suggested reason for this is corruption, which has been cited as a severe problem for the country for a long time, and continues to pose difficulties for Russia’s economy. Illicit employment and the so-called “shadow economy”, which does not officially contribute to the fiscal system, yields amounts worth almost half of Russia’s gross domestic product. This can be seen on a ranking of the untaxed economy in selected countries as a share of GDP. In addition to oil, fish and agricultural products, Russia also manufactures and exports arms and weapons. It is ranked third among the countries with the highest military spending, and second among the countries, in which military spending accounts for a significant percentage of the gross domestic product.

Russia: Economic freedom, overall index (0-100): The latest value from 2025 is 52 index points, unchanged from 52 index points in 2024. In comparison, the world average is 60 index points, based on data from 174 countries. Historically, the average for Russia from 1995 to 2025 is 53 index points. The minimum value, 49 index points, was reached in 1997 while the maximum of 62 index points was recorded in 2021.

Graph and download economic data for International Merchandise Trade Statistics: Trade Balance: Commodities for Russia (RUSXTNTVA01NCMLQ) from Q3 1992 to Q2 2025 about Russia and trade.

Economic Activity Rate: CF: Moscow Region data was reported at 65.900 % in 2024. This records a decrease from the previous number of 66.800 % for 2023. Economic Activity Rate: CF: Moscow Region data is updated yearly, averaging 69.000 % from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 72.800 % in 2012 and a record low of 65.000 % in 2021. Economic Activity Rate: CF: Moscow Region 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.GB006: Economic Activity Rate: by Region: Annual.

Economic Activity Rate: SF: Republic of Crimea data was reported at 61.100 % in 2024. This records an increase from the previous number of 59.800 % for 2023. Economic Activity Rate: SF: Republic of Crimea data is updated yearly, averaging 58.600 % from Dec 2015 (Median) to 2024, with 10 observations. The data reached an all-time high of 64.800 % in 2015 and a record low of 56.800 % in 2018. Economic Activity Rate: SF: Republic of Crimea 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.GB006: Economic Activity Rate: by Region: Annual.

Economic Activity Rate: FE: Magadan Region data was reported at 70.500 % in 2024. This records a decrease from the previous number of 71.900 % for 2023. Economic Activity Rate: FE: Magadan Region data is updated yearly, averaging 74.200 % from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 79.500 % in 2011 and a record low of 70.500 % in 2024. Economic Activity Rate: FE: Magadan Region 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.GB006: Economic Activity Rate: by Region: Annual.

Economic Activity Rate: FE: Kamchatka Territory data was reported at 71.300 % in 2024. This records an increase from the previous number of 70.000 % for 2023. Economic Activity Rate: FE: Kamchatka Territory data is updated yearly, averaging 72.500 % from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 74.300 % in 2015 and a record low of 68.800 % in 2017. Economic Activity Rate: FE: Kamchatka Territory 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.GB006: Economic Activity Rate: by Region: Annual.

Russia Labour Productivity data was reported at 101.548 Prev Year=100 in 2017. This records an increase from the previous number of 99.700 Prev Year=100 for 2016. Russia Labour Productivity data is updated yearly, averaging 103.300 Prev Year=100 from Dec 2003 (Median) to 2017, with 15 observations. The data reached an all-time high of 107.500 Prev Year=100 in 2007 and a record low of 95.900 Prev Year=100 in 2009. Russia Labour Productivity 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.GB028: Labour Productivity.

RU: GDP: Gross Value Added at Factor Cost: Services data was reported at 51,710,241.431 RUB mn in 2017. This records an increase from the previous number of 48,777,752.050 RUB mn for 2016. RU: GDP: Gross Value Added at Factor Cost: Services data is updated yearly, averaging 7,108,335.281 RUB mn from Dec 1989 (Median) to 2017, with 29 observations. The data reached an all-time high of 51,710,241.431 RUB mn in 2017 and a record low of 175.300 RUB mn in 1989. RU: GDP: Gross Value Added at Factor Cost: Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Russian Federation – Table RU.World Bank.WDI: Gross Domestic Product: Nominal. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges and import duties. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ; Note: Data for OECD countries are based on ISIC, revision 4.

Key information about Russia Public Consumption: % of GDP

• Russia Public Consumption accounted for 20.1 % of its Nominal GDP in Jun 2025, compared with a share of 21.4 % in the previous quarter.
• Russia Public Consumption share of Nominal GDP ratio is updated quarterly, available from Mar 1993 to Jun 2025, with an average number of 23.2 %.
• The data reached an all-time high of 23.6 % in Mar 1994 and a record low of 12.5 % in Mar 1993.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. Federal State Statistics Service provides Government Consumption Expenditure in local currency and Nominal GDP in local currency, based on SNA 2008. Government Consumption as % of Nominal GDP prior to Q1 2011 is based on SNA 1993.


Related information about Russia Public Consumption: % of GDP

• In the latest reports, Russia GDP expanded 1.3 % YoY in Jun 2025.
• Russia Nominal GDP reached 612.6 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) increased 3.6 % in Jun 2025.
• Russia GDP Per Capita reached 13,817.0 USD in Dec 2023.
• Its Gross Savings Rate was measured at 26.1 % in Jun 2025.
• For Nominal GDP contributions, Investment accounted for 25.1 % in Jun 2025.
• Private Consumption accounted for 53.8 % in Jun 2025.

Economic Activity Rate: CF: Belgorod Region data was reported at 63.800 % in 2024. This records an increase from the previous number of 63.600 % for 2023. Economic Activity Rate: CF: Belgorod Region data is updated yearly, averaging 63.800 % from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 70.000 % in 2016 and a record low of 61.000 % in 2005. Economic Activity Rate: CF: Belgorod Region 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.GB006: Economic Activity Rate: by Region: Annual.

Economic Activity Rate: Far East Federal District (FE) data was reported at 65.200 % in 2024. This records an increase from the previous number of 64.600 % for 2023. Economic Activity Rate: Far East Federal District (FE) data is updated yearly, averaging 67.000 % from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 70.500 % in 2016 and a record low of 63.800 % in 2022. Economic Activity Rate: Far East Federal District (FE) 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.GB006: Economic Activity Rate: by Region: Annual.

Russia RU: GDP: Growth: Gross Value Added: Agriculture, Forestry, and Fishing data was reported at 6.650 % in 2022. This records an increase from the previous number of -0.825 % for 2021. Russia RU: GDP: Growth: Gross Value Added: Agriculture, Forestry, and Fishing data is updated yearly, averaging 1.577 % from Dec 1991 (Median) to 2022, with 32 observations. The data reached an all-time high of 17.100 % in 1999 and a record low of -18.800 % in 1998. Russia RU: GDP: Growth: Gross Value Added: Agriculture, Forestry, and Fishing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Russian Federation – Table RU.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual growth rate for agricultural, forestry, and fishing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Agriculture corresponds to ISIC divisions 01-03 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 4.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;Note: Data for OECD countries are based on ISIC, revision 4.