In the first quarter of 2024, the real gross domestic product (GDP) of Russia grew by 5.4 percent compared to the same quarter of the previous year. The decline in GDP recorded between the second quarter of 2022 and the first quarter of 2023 was related to the economic impact of the war in Ukraine, in response to which Western countries imposed sanctions on Russia. However, the recent monthly GDP growth data reflects the resilience of the economy in the face of external pressure in the short term. GDP refers to the total market value of all goods and services produced within a country. It is an important indicator of economic strength. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. Trade with China has eased the sanctions’ pressure The dynamic trade relationship with China has likely played a key role in bolstering Russia's economic recovery, contributing to an over-three-percent GDP growth estimated for 2024. The importance of trade partnerships and their impact on GDP growth is underscored by the example of China's influence on both Russia's imports, especially of technology and equipment, and exports, particularly of fossil fuels. Russian economic growth in the global context Amid the global economic challenges posed by the COVID-19 pandemic and geopolitical disruptions such as the war in Ukraine, Russia's annual GDP growth was close to the global one, which was forecast to reach approximately 3.2 percent in 2024. Moreover, Russia was expected to become the fourth-fastest-growing economy in the G20 in that year, following India, Indonesia, and China.

The Gross Domestic Product (GDP) in Russia expanded 0.60 percent in the third quarter of 2025 over the same quarter of the previous year. This dataset 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.

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.

The latest data from show economic growth of 1.05 percent, which is a decrease from the rate of growth of 1.35 percent in the previous quarter and
a decrease compared to the growth rate of 4.3 percent in the same quarter last year. The economic growth time series for Russia cover the period from...

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.

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.

The gross domestic product (GDP) of Russia reached nearly 2.2 trillion U.S. dollars in 2024, having increased from the previous year. In the period between 2025 and 2030, the country's economy was expected to continue growing. 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. Russian economy The Russian economy is primarily directed by both the private sector and the state. As a member of the BRIC, Russia is currently experiencing an accelerated growth within the economy with a chance of earning a place in the G7 economies. As of the 1990s, a large amount of the country’s industrial and agricultural sectors were privatized, however energy and military production remained with the state for the most part. Thus, the majority of Russian exports consisted of energy products as well as high-tech military equipment. The effects of the global financial crisis of 2008 took a similar toll on the Russian economy, however only had short-term effects. Russia recovered after two years and has since experienced exponential economic growth and productivity due to aggressive and prompt actions from the government, providing Russia with one of the most profitable economies in the world. Additionally, unemployment reached an all-decade low from the recent Russian economic boom, which furthermore implies that there is a slight growth in wages, however is also accompanied by a large worker shortage.

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.

Monthly GDP YoY in Russia increased to 0.90 percent in September from 0.40 percent in August of 2025. This dataset includes a chart with historical data for Russia Monthly GDP YoY.

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Russia (NAEXKP01RUQ659S) from Q1 2004 to Q3 2021 about Russia, real, and GDP.

Russia GDP: Deflator: sa: Exports of Goods and Services data was reported at 150.838 2015=100 in Sep 2021. This records an increase from the previous number of 144.354 2015=100 for Jun 2021. Russia GDP: Deflator: sa: Exports of Goods and Services data is updated quarterly, averaging 79.594 2015=100 from Mar 2003 (Median) to Sep 2021, with 75 observations. The data reached an all-time high of 150.838 2015=100 in Sep 2021 and a record low of 28.290 2015=100 in Jun 2003. Russia GDP: Deflator: sa: Exports of Goods and Services data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Russian Federation – Table RU.OECD.MEI: Gross Domestic Product: GDP Deflator: Seasonally Adjusted: Non OECD Member: Quarterly.

Key information about Russia Private Consumption: % of GDP

• Russia Private Consumption accounted for 53.8 % of its Nominal GDP in Jun 2025, compared with a ratio of 53.4 % in the previous quarter.
• Russia Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1993 to Jun 2025, with an average share of 0.0 %.

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


Related information about Russia Private Consumption: % of GDP

• In the latest reports, Russia GDP expanded 1.3 % YoY in Jun 2025.
• Its Nominal GDP reached 612.6 USD bn 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.

Graph and download economic data for Real Gross Domestic Product for Russia (NGDPRNSAXDCRUQ) from Q1 2011 to Q1 2025 about Russia, real, and GDP.

Russia GDP: Exports Of Goods And Services data was reported at 10,798,857.900 RUB mn in Sep 2021. This records an increase from the previous number of 9,511,843.400 RUB mn for Jun 2021. Russia GDP: Exports Of Goods And Services data is updated quarterly, averaging 4,529,696.000 RUB mn from Mar 2003 (Median) to Sep 2021, with 75 observations. The data reached an all-time high of 10,798,857.900 RUB mn in Sep 2021 and a record low of 1,076,222.400 RUB mn in Mar 2003. Russia GDP: Exports Of Goods And Services data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Russian Federation – Table RU.OECD.MEI: Gross Domestic Product: Non OECD Member: Quarterly.

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Russia (NAEXKP01RUQ657S) from Q2 2003 to Q3 2021 about Russia, real, and GDP.

Graph and download economic data for National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Russia (RUSGDPNQDSMEI) from Q1 2003 to Q3 2021 about Russia and GDP.

GDP Deflator in Russia decreased to 138.26 points in the second quarter of 2025 from 143 points in the first quarter of 2025. This dataset provides - Russia GDP Deflator - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Russia GDP Deflator Growth

• Russia GDP deflator (implicit price deflator) increased 3.6 % in Jun 2025, compared with an increase of 6.7 % in the previous quarter.
• Russia GDP Deflator Growth data is updated quarterly, available from Mar 1996 to Jun 2025, with an average rate of 11.8 %.
• The data reached an all-time high of 85.1 % in Mar 1996 and a record low of -3.7 % in Jun 2020.

CEIC calculates quarterly GDP Deflator Growth from quarterly GDP Deflator. Federal State Statistics Service provides GDP Deflator with base Same Quarter Previous Year=100, based on SNA 2008. GDP Deflator Growth prior to Q1 2012 is based on SNA 1993.


Related information about Russia GDP Deflator Growth

• In the latest reports, Russia GDP expanded 1.3 % YoY in Jun 2025.
• Its Nominal GDP reached 612.6 USD bn 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.

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.

Russia GDP: Deflator: sa: Gross Fixed Capital Formation data was reported at 105.546 2015=100 in Sep 2021. This records an increase from the previous number of 100.959 2015=100 for Jun 2021. Russia GDP: Deflator: sa: Gross Fixed Capital Formation data is updated quarterly, averaging 58.095 2015=100 from Mar 2003 (Median) to Sep 2021, with 75 observations. The data reached an all-time high of 105.546 2015=100 in Sep 2021 and a record low of 20.572 2015=100 in Mar 2003. Russia GDP: Deflator: sa: Gross Fixed Capital Formation data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Russian Federation – Table RU.OECD.MEI: Gross Domestic Product: GDP Deflator: Seasonally Adjusted: Non OECD Member: Quarterly.