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.

Russia's gross domestic product (GDP) was estimated to have increased by 1.9 percent in April 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 5 percent in Ireland. In Latin America, the most significant increase in GDP was recorded in Peru, at 5.2 percent in 2022.

Monthly GDP YoY in Russia increased to 1.90 percent in April from 1.10 percent in March 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.

The Gross Domestic Product (GDP) in Russia was worth 2021.42 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Russia represents 1.92 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 GDP for 2023 was 2.021 trillion US dollars, a 10.79% decline from 2022.

<ul style='margin-top:20px;'>

<li>Russia GDP for 2022 was <strong>2.266 trillion US dollars</strong>, a <strong>22.93% increase</strong> from 2021.</li>
<li>Russia GDP for 2021 was <strong>1.843 trillion US dollars</strong>, a <strong>23.46% increase</strong> from 2020.</li>
<li>Russia GDP for 2020 was <strong>1.493 trillion US dollars</strong>, a <strong>11.81% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In May 2025, the inflation rate in Russia stood at **** percent compared to the same month in the previous year, showing an increase. The rate has been decreasing since March 2025. The highest rate during the observed period was recorded in April 2022, at **** percent. The term inflation means the devaluation of money caused by a permanent increase in the price level for products (consumer goods, investment goods). The Consumer Price Index (CPI) shows the price development for private expenses and shows the current level of inflation when increasing. Russia's economy, an outlook The Russian economy was expected to grow by *** percent in 2025 despite the Western sanctions over the war in Ukraine that began in February 2022. At the same time, consumer prices were projected to grow by around **** percent in 2025 relative to the previous year. In 2024, the inflation rate was estimated at **** percent. Prices in Russia Russia’s economy is highly dependent on and affected by the price of oil. The price of the Urals crude oil stood at approximately ***** U.S. dollars per barrel in April 2025, having demonstrated a decrease from the previous month. The highest producer price index (PPI) was recorded in the electricity and gas supply sector, with a price growth rate of over ** percent in September 2024.

Inflation Rate in Russia decreased to 9.90 percent in May from 10.20 percent in April of 2025. This dataset provides - Russia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Russia Unemployment Rate: Urban data was reported at 1.800 % in Mar 2025. This records a decrease from the previous number of 2.100 % for Feb 2025. Russia Unemployment Rate: Urban data is updated monthly, averaging 4.300 % from Aug 2009 (Median) to Mar 2025, with 188 observations. The data reached an all-time high of 7.800 % in Jan 2010 and a record low of 1.800 % in Mar 2025. Russia Unemployment Rate: Urban 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.GB007: Unemployment Rate. Since January 2018, the data cover the population 15 aged and above, but before that: 15-72. [COVID-19-IMPACT]

Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data was reported at 30.764 % in Mar 2025. This records an increase from the previous number of 29.826 % for Feb 2025. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data is updated monthly, averaging 34.000 % from Jun 2012 (Median) to Mar 2025, with 97 observations. The data reached an all-time high of 60.742 % in Feb 2022 and a record low of 20.000 % in Feb 2018. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

The live music segment in Russia was forecast to grow by nearly seven times between 2020 and 2025, as it was expected to recover from the negative impact of the COVID-19 pandemic. Furthermore, the revenue of music streaming in the country was expected to nearly triple over the same period.

Policy rate, percent in Russia, April, 2025 The most recent value is 21 percent as of April 2025, no change compared to the previous value of 21 percent. Historically, the average for Russia from January 2000 to April 2025 is 12.26 percent. The minimum of 4.25 percent was recorded in July 2020, while the maximum of 45 percent was reached in January 2000. | TheGlobalEconomy.com

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.

Russia MED Forecast: Export Products: Non Oil and Gas: as % of GDP: Conservative Scenario data was reported at 12.225 % in 2026. This records a decrease from the previous number of 12.274 % for 2025. Russia MED Forecast: Export Products: Non Oil and Gas: as % of GDP: Conservative Scenario data is updated yearly, averaging 12.227 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 13.068 % in 2021 and a record low of 10.846 % in 2022. Russia MED Forecast: Export Products: Non Oil and Gas: as % of GDP: 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. Data release delayed due to the Ukraine-Russia conflict. No estimation on next release date can be made.

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.

Russia has demonstrated strong economic resilience through its resource endowment, policy adjustments and geo-economic cooperation, and has successfully coped with the short-term impact of Western sanctions. However, in the long run, the Russian economy still faces multiple challenges such as technological blockade, energy transformation and internal structural problems. In the future, whether Russia can continue to maintain its economic resilience will depend on the effectiveness of its policy adjustments and changes in the geopolitical environment.

Business credit interest rate, percent in Russia, March, 2025 The most recent value is 20.46 percent as of March 2025, an increase compared to the previous value of 18.6 percent. Historically, the average for Russia from January 2011 to March 2025 is 10.99 percent. The minimum of 6.26 percent was recorded in November 2020, while the maximum of 20.5 percent was reached in January 2025. | TheGlobalEconomy.com

The benchmark interest rate in Russia was last recorded at 20 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Russia MED Forecast: Wage Fund of Organizations: YoY: Baseline Scenario data was reported at 7.250 % in 2026. This records a decrease from the previous number of 7.308 % for 2025. Russia MED Forecast: Wage Fund of Organizations: YoY: Baseline Scenario data is updated yearly, averaging 10.649 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 13.946 % in 2022 and a record low of 5.884 % in 2020. Russia MED Forecast: Wage Fund of Organizations: 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 Russia Premium Database’s Forecast – Forecast of The Social and Economic Development of The Russian Federation.

Economic Activity Rate: 3 Month Moving Average: NW: Novgorod Region data was reported at 60.100 % in Mar 2025. This records an increase from the previous number of 60.000 % for Dec 2024. Economic Activity Rate: 3 Month Moving Average: NW: Novgorod Region data is updated monthly, averaging 67.600 % from Aug 2009 (Median) to Mar 2025, with 186 observations. The data reached an all-time high of 71.900 % in May 2013 and a record low of 57.000 % in Oct 2020. Economic Activity Rate: 3 Month Moving Average: NW: Novgorod Region data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Demographic and Labour Market – Table RU.GB005: Economic Activity Rate: by Region: Three Month Moving Average. Since January 2018, the data covers the population aged 15 and above, while prior to January 2018 it used to cover the population aged 15-72.