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) 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 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.

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.

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 and long-term Russia economic indicators data: historical series and analyst forecasts curated by FocusEconomics.

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.

This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Russia from 2013 to 2023. In 2023, agriculture contributed around 3.35 percent to the GDP of Russia, 30.65 percent came from the industry and 56.88 percent from the service sector. Russia's struggling economy Russia is one of the so-called BRIC countries, the four major emerging markets. It is also considered to be one of the fastest growing economies, being one of the world’s leading producers and exporters of oil, natural gas, metals, wood, chemicals, and a wide variety of civilian and military manufactures. In 2015, Russia reported an estimated gross domestic product of about 1.18 billion U.S. dollars, making it one of the countries with the largest gross domestic product in the world. Due to its fast economic expansion, it is also predicted that Russia will have the sixth largest gross domestic product in the world by 2030. Despite a growing economy, Russia's unemployment rate has remained high in recent years. In 2010, the unemployment rate in Russia was at 7.3 percent, and after a slight plunge, it is expected to reach similar heights in the next few years again. Inflation has also increased rapidly in recent years, in 2015, it is expected to double in comparison to 2014, reaching approximately 18 percent - the highest inflation rate of the decade. 2015 is also marked by a large decline of Russia's gross domestic product: Between 2014 and 2015, GDP decreased by almost 5 thousand U.S. dollars. It is, however, expected to recover until 2020. Despite a trade deficit in the services sector from 2003 to 2013, the services sector in Russia has employed yearly over 55 percent of the workforce since 1999.

Comprehensive dataset on Russia's energy sector, economy, and socio-economic metrics from post-Soviet era to future projections.

This dataset provides a historical and projected overview of key economic, energy, and social indicators for Russia spanning from 1991 (post-Soviet dissolution) to 2025 (including forecasts). It focuses on the oil and gas sector, which has been a cornerstone of Russia's economy, alongside broader macroeconomic and demographic metrics. The data is useful for analyzing trends in energy production, exports, fiscal dependencies, inflation, and social inequality during periods of economic transformation, crises (e.g., 1998 ruble crisis, 2014 sanctions), and recent geopolitical events. Key Features:

Time Coverage: Annual data from 1991 to 2025 (with projections for 2024-2025 based on estimates). Rows: 35 (one per year). Columns: 29, covering energy production, prices, exports, fiscal indicators, demographics, and more. File Format: CSV (UTF-8 encoded for compatibility with special characters like en-dash in tax rates). Data Sources: Compiled from public sources including Rosstat, World Bank, IMF, EIA (U.S. Energy Information Administration), and Russian Central Bank reports. Projections for 2024-2025 are estimates based on trends and may require updates. Missing Values: Some fields (e.g., early years for FDI or import volumes) are blank due to data unavailability; handle with imputation if needed.

Column Descriptions

Column Name	Description	Unit	Notes
Year	Calendar year	-	From 1991 to 2025
oil_prices(barrel/USD)	Average annual price of crude oil	USD per barrel	Brent or Urals benchmark
gas_prices(MMBtu/USD)	Average annual price of natural gas	USD per million BTU	Henry Hub or European hub prices
Oil_production_volume(million_b/y)	Annual oil production	Million barrels per year	Russian Federation total
Gas_production_volume(billion_c_m/y)	Annual gas production	Billion cubic meters per year	Includes Gazprom and independents
Oil_export_volume(million tons)	Annual oil exports	Million tons	Crude and products
Gas_export_volume(billion_c_m)	Annual gas exports	Billion cubic meters	Pipeline and LNG
Share_of_oil_and_gas_revenues(%)	Oil & gas revenues as share of federal budget	%	Dependency on energy sector
TB(billion USD)	Trade balance	Billion USD	Exports minus imports
FDI(billion USD)	Foreign direct investment inflows	Billion USD	Net inflows
Import_volume(billion USD)	Total import volume	Billion USD	Goods and services
Key_rate(%)	Central Bank key interest rate	%	Average or end-of-year
level_of_public_debt(% of GDP)	Public debt as percentage of GDP	% of GDP	General government
tock_Market_Index(MOEX Index)	MOEX Russia Index value	Index points	Year-end or average
inflation_rate(%)	Annual inflation rate (CPI-based)	%	Consumer price index change
exchange_rates(RUB/USD)	Average RUB to USD exchange rate	RUB per USD	Annual average
GNP(milliard USD)	Gross National Product	Milliard USD (billion)	Nominal
ISI(0-10)	The index of sanctions pressure	Scale 0-10	Pressure on the economy through sanctions
Migration_rate(net_migration th/p)	Net migration rate	Thousands of people	Inflows minus outflows
Gini_coefficient(%)	Gini coefficient for income inequality	%	0 = perfect equality, 100 = perfect inequality
population_size(p)	Total population	People	Mid-year estimate
unemployment_rate(%)	Unemployment rate	%	Labor force survey
per_c_i(thousands USD)	Per capita income	Thousands USD	Nominal, PPP-adjusted in some years
Non_oil_GDP(%)	Non-oil GDP share	%	GDP excluding oil/gas extraction
CPI	Consumer Price Index	Index (base year varies)	Cumulative inflation measure
Military_expenditures(% of GDP)	Military spending as % of GDP	% of GDP	SIPRI or official data
tax_rates(VAT%)	Value-Added Tax rate	%	Standard rate
tax_rates(PIT%)	Personal Income Tax rate	% or range	Flat rate or progressive brackets (e.g., "13-15")
tax_receipts(billion USD)	Total tax receipts	Billion USD	Federal budget collections

Githab rep https://github.com/AsDo001/Forecasting-of-revenues-to-the-budget-of-the-Russian-Federation

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.

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.

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 MED Forecast:(GDP) Gross Domestic ProductDeflator: YoY: Baseline Scenario data was reported at 3.679 % in 2026. This records an increase from the previous number of 3.458 % for 2025. Russia MED Forecast:(GDP) Gross Domestic ProductDeflator: YoY: Baseline Scenario data is updated yearly, averaging 3.933 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 15.800 % in 2022 and a record low of 0.900 % in 2020. Russia MED Forecast:(GDP) Gross Domestic ProductDeflator: YoY: Baseline 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.

Over ** percent of Russian business managing representatives stated that the coronavirus spread in the country would lead to strong or rather strong damages to the national economy, while the share of those with positive prospects was represented by a minority.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Russia: Domestic credit to the private sector, percent of GDP: The latest value from 2020 is 59.77 percent, an increase from 52.56 percent in 2019. In comparison, the world average is 61.27 percent, based on data from 151 countries. Historically, the average for Russia from 2001 to 2020 is 40.89 percent. The minimum value, 16.84 percent, was reached in 2001 while the maximum of 59.77 percent was recorded in 2020.

Russia MED Forecast:(GDP) Gross Domestic ProductDeflator: YoY: Conservative Scenario data was reported at 3.665 % in 2026. This records an increase from the previous number of 2.411 % for 2025. Russia MED Forecast:(GDP) Gross Domestic ProductDeflator: YoY: Conservative Scenario data is updated yearly, averaging 3.938 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 15.800 % in 2022 and a record low of 0.900 % in 2020. Russia MED Forecast:(GDP) Gross Domestic ProductDeflator: 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.

Russia: Pension fund assets as percent of GDP: The latest value from 2020 is 4.33 percent, an increase from 4 percent in 2019. In comparison, the world average is 29.44 percent, based on data from 78 countries. Historically, the average for Russia from 2005 to 2020 is 2.72 percent. The minimum value, 1.29 percent, was reached in 2008 while the maximum of 4.33 percent was recorded in 2020.

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

The experts feared that social distancing as the foremost measure to prevent the further expansion of the coronavirus (COVID-19) pandemic, would lead to job cuts in Russia in 2020. Thus, the most feasible employment reduction rate of between 10 and 15 percent could leave from five to eight million people without a job countrywide.

Coronavirus impact on the Russian economy 

The coronavirus-induced crisis, which was enhanced by the drop of crude oil prices had a drastic impact on the Russian economy, the whole effect of which is yet to be seen in the coming months and years. The expected GDP loss for 2020 in Russia was estimated at around four percent, considering that the critical phase of the crisis and the negative manifestations would affect only 2020. For scenarios with a longer period of COVID-19 impact, the forecast was less optimistic. Shopping malls were the most affected businesses in the Russian capital during the lockdown.

 Coronavirus (COVID-19) outbreak in Russia   

While there were some cases of coronavirus reported in January 2020 in the Russian territory, outbreak of the disease in the country started a bit later, in March 2020. Up to date, there were roughly 4.4 million cases of coronavirus confirmed countrywide, roughly three fourths of which has already recovered, and over 27 thousand died as a result of COVID-19. The city of Moscow has been accounting for the highest number of reported cases in the country since the beginning of the pandemic.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

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.