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 expanded 1.10 percent in the second 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.

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.

Monthly GDP YoY in Russia decreased to 0.40 percent in July from 1.10 percent in June of 2025. This dataset includes a chart with historical data for Russia Monthly GDP YoY.

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.

Inflation Rate in Russia decreased to 8.10 percent in August from 8.80 percent in July of 2025. This dataset provides - Russia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Russia's real GDP was forecast to fall by less than one percent in 2023. In 2022, the economy shrank by over two percent, largely impacted by the invasion of Ukraine and subsequent Western sanctions on Russia. The coronavirus (COVID-19) pandemic negatively affected the indicator in 2020, leading to its decline by 2.7 percent in that year.

Key information about Russia Retail Sales Growth

• Russia Retail Sales grew 5.4 % YoY in Jan 2025, compared with a 5.2 % increase in the previous month.
• Russia Retail Sales Growth YoY data is updated monthly, available from Jan 1994 to Jan 2025, with an average growth rate of 4.6 %.
• The data reached an all-time high of 36.3 % in Apr 2021 and a record low of -22.0 % in Apr 2020.
• In the latest reports, Car Sales of Russia recorded 79,941.0 units in Feb 2025, representing a drop of 5.9 %.

CEIC calculates monthly Retail Sales: Incl. Motor Vehicles Growth from monthly Retail Trade Turnover Index. Federal State Statistics Service provides Retail Trade Turnover Index with base Same Month Previous Year=100.

Key information about Russia M2 Growth

• Russia Money Supply M2 increased 19.2 % YoY in Jan 2025, compared with a growth of 19.2 % in the previous month
• Russia Money Supply M2 growth data is updated monthly, available from Dec 1992 to Jan 2025
• The data reached an all-time high of 806.3 % in May 1993 and a record low of -10.7 % in Mar 2009

CEIC calculates M2 Growth Rate from monthly M2. The Bank of Russia provides M2 in local currency.


Further information about Russia M2 Growth

• In the latest reports, Russia Foreign Exchange Reserves was measured at 386.4 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Oct 2024
• Russia Domestic Credit reached 1,404.0 USD bn in Dec 2024, representing an increased of 19.6 % YoY
• The country's Non Performing Loans Ratio stood at 16.8 % in Nov 2020, compared with the ratio of 17.0 % in the previous month
• Household Debt of Russia reached 365.3 USD bn in Nov 2024, accounting for 20.4 % of the country's Nominal GDP

Key information about Russia Industrial Production Index Growth

• Russia Industrial production rose 2.2 % YoY in Jan 2025, following an increase of 8.2 % YoY in the previous month.
• Russia Industrial production index growth rate YoY data is updated monthly, available from Jan 2014 to Jan 2025, with an average rate of 2.8 %.
• The data reached an all-time high of 12.9 % in May 2021 and a record low of -7.7 % in May 2020.

CEIC calculates monthly Industrial Production Index Growth from monthly Industrial Production Index. Federal State Statistics Service provides Industrial Production Index with base Same Month Previous Year=100 based on OKPD2/OKVED2 with benchmark year 2018. Industrial Production Index Growth prior to January 2015 is calculated from Industrial Production Index with benchmark year 2010.

Russia MED Forecast: Real(GDP) Gross Domestic ProductGrowth: YoY: Conservative Scenario data was reported at 1.520 % in 2026. This records an increase from the previous number of 1.453 % for 2025. Russia MED Forecast: Real(GDP) Gross Domestic ProductGrowth: YoY: Conservative Scenario data is updated yearly, averaging 1.453 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 3.851 % in 2021 and a record low of -3.000 % in 2020. Russia MED Forecast: Real(GDP) Gross Domestic ProductGrowth: YoY: Conservative Scenario data remains active status in CEIC and is reported by Ministry of Economic Development of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Forecast of The Social and Economic Development of The Russian Federation.

Due to the COVID-19 pandemic, the population's real disposable income in Russia declined by three percent in 2020. In the following year, the income growth was forecast at 3.7 percent, after which it would decline to 2.1 percent in 2025.

Key information about Russia Producer Price Index Growth

• Russia Producer Price Index (PPI) grew 9.7 % YoY in Jan 2025, compared with a growth of 7.9 % YoY in the previous month.
• Russia Producer Price Index data is updated monthly, available from Jan 2013 to Jan 2025, with an average change of 6.7 % YoY.
• The data reached an all-time high of 35.3 % YoY in May 2021 and a record low of -14.1 % YoY in May 2020.

CEIC calculates Producer Price Index Growth from monthly Producer Price Index. Federal State Statistics Service provides Producer Price Index with base Same Month Previous Year=100 based on OKPD2/OKVED2. Producer Price Index Growth covers Industrial sector only.

The Russia ICT market exhibits robust growth potential, projected to reach $38.95 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 8.54% from 2025 to 2033. This expansion is fueled by several key factors. Increased government investment in digital infrastructure, particularly in areas like 5G network deployment and broadband expansion, is significantly boosting market development. Furthermore, the rising adoption of cloud computing services, driven by both businesses seeking enhanced efficiency and consumers demanding convenient digital solutions, is a significant contributor to growth. The burgeoning e-commerce sector and the expanding use of mobile devices are also major drivers. However, geopolitical uncertainties and economic sanctions pose challenges to market expansion, potentially impacting investment and technological advancement. The competitive landscape comprises both international giants like Kaspersky Lab, Tencent, and Huawei, and domestic players like Rostelecom, vying for market share across various segments including telecommunications, software, hardware, and IT services. The market's segmentation reflects the diversified nature of ICT in Russia, with significant growth opportunities in areas such as cybersecurity, big data analytics, and the Internet of Things (IoT). The consistent CAGR underscores the ongoing digital transformation within Russia. While geopolitical factors introduce uncertainty, the underlying demand for advanced technologies remains strong, indicating continued market expansion in the coming years. The presence of both global and domestic players fosters competition and innovation, creating a dynamic market with opportunities for both established companies and emerging startups. Strategic partnerships between international and domestic firms are likely to play a key role in driving future growth, fostering technology transfer, and enhancing the overall capabilities of the Russian ICT sector. Continued focus on digital literacy and skills development will be crucial in realizing the full potential of this growing market. Key drivers for this market are: Growing E-Commerce and Digital Services, Government initiatives and Support. Potential restraints include: Growing E-Commerce and Digital Services, Government initiatives and Support. Notable trends are: Telecommunication Services are Driving the Russian ICT Market.

Annualized average growth rate in per capita real survey mean consumption or income, bottom 40% of population (%) in Russia was reported at 1.61 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Russia - Annualized average growth rate in per capita real survey mean consumption or income, bottom 40% of population - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

Annualized average growth rate in per capita real survey mean consumption or income, total population (%) in Russia was reported at 0.38 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Russia - Annualized average growth rate in per capita real survey mean consumption or income, total population - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

Industrial Production in Russia increased 0.50 percent in August of 2025 over the same month in the previous year. This dataset provides - Russia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Russian advertising market was forecast to grow by ** percent in 2025, at a significantly lower rate compared to the previous year. In 2022, the market experienced a decline due to the economic effects of the Russian invasion of Ukraine.

Key information about Russia Domestic Credit Growth

• Russia Domestic Credit increased 19.1 % YoY in Jan 2025, compared with an increase of 19.7 % YoY in the previous month
• Russia Domestic Credit Growth YoY data is updated monthly
• It averaged 21.6 %, available from Dec 2001 to Jan 2025
• The data reached an all-time high of 49.7 % in May 2007 and a record low of -9.3 % in Apr 2005

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. The Bank of Russia provides Domestic Credit in local currency based on MFSM 2016. Domestic Credit Growth prior to December 2015 is based on MFSM 2000.


Further information about Russia Domestic Credit Growth

• In the latest reports, Russia Domestic Credit reached 1,442.5 USD bn in Jan 2025
• Money Supply M2 in Russia increased to 1,189.6 USD bn YoY in Jan 2025
• Russia Foreign Exchange Reserves was measured at 386.4 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Oct 2024
• The country's Non Performing Loans Ratio stood at 16.8 % in Nov 2020, compared with the ratio of 17.0 % in the previous month
• Household Debt of Russia reached 20.4 % in Mar 2024, accounting for 20.4 % of the country's Nominal GDP