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.

The Gross Domestic Product (GDP) in Russia expanded 1.40 percent in the first 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.

Graph and download economic data for Leading Indicators OECD: Reference series: Gross Domestic Product (GDP): Ratio to trend for the Russian Federation (RUSLORSGPRTSTSAM) from Feb 1995 to Aug 2021 about leading indicator, Russia, ratio, and GDP.

Russia GDP Counterfactual Tracker: % Change from Pre-Crisis Trend: Low data was reported at -0.773 % in 30 Jan 2022. This records a decrease from the previous number of -0.760 % for 23 Jan 2022. Russia GDP Counterfactual Tracker: % Change from Pre-Crisis Trend: Low data is updated weekly, averaging -5.474 % from Apr 2020 (Median) to 30 Jan 2022, with 96 observations. The data reached an all-time high of 4.423 % in 12 Dec 2021 and a record low of -20.771 % in 12 Apr 2020. Russia GDP Counterfactual Tracker: % Change from Pre-Crisis Trend: Low 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.WT: GDP Growth Tracker: Weekly.

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 contracted 2.6 % YoY in Mar 2023, following a negative growth of 3.2 % in the previous quarter.
• Real GDP Growth YoY data in Russia is updated quarterly, available from Mar 1996 to Mar 2023, with an average rate of 2.7 %.
• The data reached an all-time high of 12.3 % in Dec 1999 and a record low of -9.4 % in Jun 2009.

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 494.7 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.7 % in Mar 2023.
• GDP Per Capita in Russia reached 15,074.8 USD in Dec 2022.
• Its Gross Savings Rate was measured at 35.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 28.9 % in Dec 2022.
• Public Consumption accounted for 17.5 % in Dec 2022.
• Private Consumption accounted for 47.3 % in Dec 2022.

Russia GDP Counterfactual Tracker: % Change from Pre-Crisis Trend: High data was reported at 5.836 % in 30 Jan 2022. This records a decrease from the previous number of 5.942 % for 23 Jan 2022. Russia GDP Counterfactual Tracker: % Change from Pre-Crisis Trend: High data is updated weekly, averaging -0.049 % from Apr 2020 (Median) to 30 Jan 2022, with 96 observations. The data reached an all-time high of 13.209 % in 12 Dec 2021 and a record low of -6.091 % in 17 May 2020. Russia GDP Counterfactual Tracker: % Change from Pre-Crisis Trend: High 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.WT: GDP Growth Tracker: Weekly.

Monthly GDP YoY in Russia decreased to 1.20 percent in May from 1.90 percent in April of 2025. This dataset includes a chart with historical data for Russia Monthly GDP YoY.

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.

Key information about Russia Nominal GDP Growth

• Russia Nominal GDP Growth was reported at 19.527 % in Mar 2024.
• This records an increase from the previous number of 19.473 % for Dec 2023.
• Russia Nominal GDP Growth data is updated quarterly, averaging 19.527 % from Mar 1994 to Mar 2024, with 121 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.

Full Year GDP Growth in Russia increased to 4.10 percent in 2024 from 3.60 percent in 2023. This dataset includes a chart with historical data for Russia Full Year Gdp Growth.

In 2024, the ratio of government expenditure to GDP in Russia was about 38.25 percent. Between 1998 and 2024, the figure dropped by approximately 1.43 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the ratio will rise by around 0.42 percentage points, showing an overall upward trend with periodic ups and downs.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

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.

GDP deflator of Russian Federation soared by 15.97% from 8.0 % in 2023 to 9.3 % in 2024. Since the 0.13% downward trend in 2022, GDP deflator sank by 48.99% in 2024. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

Real GDP of Russian Federation fell by 0.59% from 517,228 million US dollars in 2024Q4 to 514,199 million US dollars in 2025Q1. Since the 0.44% upward trend in 2024Q3, real GDP went up by 0.47% in 2025Q1.

Russia recorded a Government Debt to GDP of 16.40 percent of the country's Gross Domestic Product in 2024. This dataset provides - Russia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Russia - Credit-to-GDP gaps (actual-trend), Credit from All sectors to Private non-financial sector

In 2020, economic factors originating from the population trends affected the growth of the gross domestic product in Russia most negatively, at 4.4 percent. Import components, on the other hand, contributed to an 2.9 percent increase in the GDP. In the previous year, that indicator had a negative effect on Russia's GDP.

Russia - Credit-to-GDP trend (HP filter), Credit from All sectors to Private non-financial sector