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.

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) 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.

This statistic shows the gross domestic product (GDP) per capita in Russia from 1997 to 2024, with projections up until 2030. 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. In 2024, the GDP per capita in Russia was around 14,794.7 U.S. dollars. See the Russian GDP for comparison. Russia's wealth Russia generates most of its wealth through its energy sector, given that a large percentage of its industrial and agricultural sectors have been privatized in the 1990s. The majority of Russia’s exports consisted of natural resources, such as oil, gas and metals. Russia’s primary export partners are located within Europe, with the exception of China, and are often the recipients of a large amount of Russia’s natural gas exports. The country’s second most important and influential sector is the military sector, due to having built up a complex arms industry and having the proficiency to produce high tech weapons. Russia ranks as one of the highest spenders for military production and is one of the more intimidating military powers in the world. Due to the privatization of Russia’s industrial and agricultural sectors, a rather large part of the population was able to capitalize on the market. Russia is home to one of the highest numbers of billionaires in the world, trailing only countries such as the United States and China.

The Gross Domestic Product per capita in Russia was last recorded at 11043.26 US dollars in 2024. The GDP per Capita in Russia is equivalent to 87 percent of the world's average. This dataset provides the latest reported value for - Russia GDP per capita - 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.

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.

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.

Graph and download economic data for Gross Domestic Product Per Capita for Russian Federation (PCAGDPRUA646NWDB) from 1988 to 2024 about Russia, per capita, and GDP.

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

Monthly and long-term Russia GDP Per Capita data: historical series and analyst forecasts curated by FocusEconomics.

Dataset of the Russia GDP Annual Growth Rate, including historical data, latest releases, and long-term trends from 1990-12-31 to 2024-12-31. Available for free download in CSV format.

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.

The Gross Domestic Product per capita in Russia was last recorded at 41704.71 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Russia, when adjusted by Purchasing Power Parity is equivalent to 235 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.

Historical dataset showing Russia GDP per capita by year from 1988 to 2023.

Graph and download economic data for National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Russia (RUSGDPNADSMEI) from 2003 to 2020 about Russia and GDP.

In 2024, the share of the global gross domestic product (GDP) adjusted for purchasing power parity (PPP) in Russia amounted to 3.5 percent. Between 1992 and 2024, the figure dropped by 1.41 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the share will steadily decline by 0.41 percentage points from 2024 to 2030.This indicator describes the share of a country's gross domestic product in the global gross domestic product. To this end the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.

Yearly (annual) dataset of the Russia GDP per Capita, including historical data, latest releases, and long-term trends from 1989-12-31 to 2024-12-31. Available for free download in CSV format.

Russia GDP: Annual: Net Exports data was reported at 8,699.900 RUB bn in 2024. This records an increase from the previous number of 7,323.100 RUB bn for 2023. Russia GDP: Annual: Net Exports data is updated yearly, averaging 6,076.350 RUB bn from Dec 2011 (Median) to 2024, with 14 observations. The data reached an all-time high of 19,865.300 RUB bn in 2022 and a record low of 3,943.800 RUB bn in 2013. Russia GDP: Annual: Net Exports 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.AA002: GDP: by Expenditure: SNA 2008: Current Price.

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.