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.

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.

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.

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.

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.

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.

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.

Key information about Russia Market Capitalization: % of GDP

• Russia Market Capitalization accounted for 2.8 % of its Nominal GDP in Dec 2024, compared with a percentage of 2.9 % in the previous year
• Russia Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1997 to Dec 2024
• The data reached an all-time high of 33.3 % in Dec 2003 and a record low of 2.8 % in Dec 2024

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. Moscow Exchange provides Market Capitalization in USD. Federal State Statistics Service provides Nominal GDP in local currency. The Bank of Russia average market exchange rate is used for currency conversions

The Russian satellite-based Earth observation market is experiencing robust growth, driven by increasing government investment in space technology, a focus on national security, and the expanding applications of Earth observation data across various sectors. The market's Compound Annual Growth Rate (CAGR) of 7.58% from 2019 to 2024 suggests a substantial market expansion. Considering this trajectory and the continued advancements in satellite technology, the market is projected to maintain a similar growth rate through 2033. Key drivers include the nation's strategic interests in monitoring its vast territory for resource management, infrastructure development, and environmental protection. The increasing adoption of Earth observation data for precision agriculture, urban planning, and climate change mitigation further fuels market expansion. While precise market sizing for 2025 is unavailable, estimating based on the provided CAGR and a plausible 2024 market size (let's assume $500 million for illustration), the 2025 market size could be around $537.9 million ($500 million * 1.0758). The market is segmented by data type (Earth observation data and value-added services), satellite orbit (Low Earth Orbit, Medium Earth Orbit, Geostationary Orbit), and end-use (urban development, agriculture, climate services, energy, infrastructure, and others). Competition is largely dominated by state-owned enterprises like Roscosmos and Gazprom Space Systems, alongside private players such as SCANEX Group and Dauria Aerospace. The future growth of the Russian satellite-based Earth observation market hinges on technological advancements, particularly in high-resolution imagery and data analytics. Government policies supporting the development and deployment of domestic satellite constellations will be critical. The increasing integration of AI and machine learning in data processing and interpretation will further enhance the value proposition of Earth observation services. However, potential restraints include economic sanctions affecting access to international technology and collaborations, as well as the need for skilled professionals to manage and interpret the vast amounts of generated data. Despite these challenges, the long-term outlook for the Russian satellite-based Earth observation market remains positive, driven by the strategic importance of this technology for national development and global competitiveness. Recent developments include: April 2023: The Russian government made a commitment to maintain its participation in the International Space Station (ISS) through at least 2028. NASA has reported that Russia has affirmed its dedication to supporting the station until 2028. The other partners, including NASA, the Canadian Space Agency, the European Space Agency, and the Japan Aerospace Exploration Agency, have agreed to extend the station's operations through 2030., August 2022: The satellite, named "Khayyam" after a Persian mathematician from the 12th century, is set to launch as part of an agreement between Russia's Roscosmos space agency and Iran, a collaboration that has been in the works for nearly four years. The Kanopus-V system, developed and launched by Russia, will feature a high-resolution camera providing Tehran with potential capabilities, including near-constant monitoring of sensitive facilities in Israel and the Persian Gulf region.. Key drivers for this market are: Government Initiatives and Support, Rising Need for Advanced Surveillance Capabilities. Potential restraints include: Government Initiatives and Support, Rising Need for Advanced Surveillance Capabilities. Notable trends are: Government Initiatives and Support to Drive the Market Growth.

Russia's oil and gas industry accounted for over ** percent of the country's gross domestic product (GDP) in 2024. That constituted a slight decrease compared to the previous year.

Russia GDP per capita for 2023 was $13,817, a 10.54% decline from 2022.

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

<li>Russia GDP per capita for 2022 was <strong>$15,445</strong>, a <strong>23.35% increase</strong> from 2021.</li>
<li>Russia GDP per capita for 2021 was <strong>$12,522</strong>, a <strong>23.87% increase</strong> from 2020.</li>
<li>Russia GDP per capita for 2020 was <strong>$10,108</strong>, a <strong>11.7% decline</strong> from 2019.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. GDP 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.

Russia Federal Loan Bonds (OFZ): Market Size data was reported at 7,325.000 RUB bn in Dec 2018. This records an increase from the previous number of 7,287.000 RUB bn for Nov 2018. Russia Federal Loan Bonds (OFZ): Market Size data is updated monthly, averaging 4,812.000 RUB bn from Dec 2011 (Median) to Dec 2018, with 85 observations. The data reached an all-time high of 7,325.000 RUB bn in Dec 2018 and a record low of 2,897.000 RUB bn in Jan 2012. Russia Federal Loan Bonds (OFZ): Market Size data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Financial Market – Table RU.ZD001: Federal Loan Bonds (OFZ) Market: Non-Residents Share.

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.

Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.

Key information about Russia Employed Persons

• Russia Employed Persons was reported at 73,500,000.000 Person in Jan 2025
• It recorded a decrease from the previous number of 74,200,000.000 Person for Dec 2024
• Russia Employed Persons data is updated monthly, averaging 70,376,000.000 Person from Jan 1993 to Jan 2025, with 385 observations
• The data reached an all-time high of 74,800,000.000 Person in Nov 2024 and a record low of 60,400,000.000 Person in Jan 1999
• Russia Employed Persons 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: Employed Persons: Monthly

Federal State Statistics Service provides monthly Employed Persons. Employed Persons prior to Jan 2017 covers age range of 15 to 72.

Exports in Russia decreased to 33060 USD Million in April from 34559 USD Million in March of 2025. This dataset provides - Russia Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Russian food service industry, valued at $28.91 billion in 2025, is projected to experience robust growth, with a Compound Annual Growth Rate (CAGR) of 8.44% from 2025 to 2033. This expansion is driven by several key factors. Rising disposable incomes, particularly among the urban middle class, fuel increased spending on dining out. A young and increasingly Westernized population embraces diverse culinary experiences, boosting demand for both international chains and innovative local concepts. The burgeoning e-commerce sector and mobile payment penetration further propel growth, facilitating convenient online ordering and delivery services. While the market encompasses diverse segments, including full-service restaurants, quick-service restaurants (QSRs), cafes, bars, and home delivery options, the QSR segment is anticipated to lead the growth trajectory due to its affordability and convenience, catering to busy lifestyles and price-conscious consumers. The industry's competitive landscape is dynamic, featuring both established international players like McDonald's (now Vkusno & Tochka) and Yum! Brands, along with thriving domestic chains like Teremok. Competition is fierce, pushing companies to innovate with menu offerings, enhance customer experience, and optimize operational efficiencies. However, the industry faces challenges. Geopolitical instability and economic sanctions have created uncertainty, impacting ingredient sourcing and consumer spending. Inflationary pressures increase operational costs, necessitating price adjustments that might affect consumer demand. Furthermore, maintaining consistent food quality and safety standards across the diverse range of establishments is crucial to building and maintaining consumer trust. The successful players will be those who effectively manage these challenges while capitalizing on the underlying growth drivers through strategic menu development, efficient operations, and targeted marketing campaigns. The ongoing shift towards digitalization within the food service industry is an important aspect to consider for future market trends. Recent developments include: June 2022: Vkusno & Tochka (Tasty and that's it) launched its operations in Russia, post McDonald's exit in Russia. The firm rebranded the McDonald's stores nationwide and aimed to expand its presence nationwide., August 2022: Stars Coffee launched in Russia as a rebranded version of Starbucks Corporation. The chain aims to offer coffee and snacking products in the country in its operating stores., February 2022: Shell Cafe expanded its business by opening a new café in Moscow. According to the company, the café aims to offer a variety of coffees and snacks, including bakery products and meat products.. Notable trends are: Increasing Prevalence of Eating/Dining Out.

Russia Avg Consumer Price: CL: Children Clothing: Pre School Age: Mixture Fabric Overalls Size 48-60 data was reported at 3,986.890 RUB in Jan 2019. This records a decrease from the previous number of 3,994.250 RUB for Dec 2018. Russia Avg Consumer Price: CL: Children Clothing: Pre School Age: Mixture Fabric Overalls Size 48-60 data is updated monthly, averaging 1,235.020 RUB from Jan 1995 (Median) to Jan 2019, with 289 observations. The data reached an all-time high of 3,994.250 RUB in Dec 2018 and a record low of 36.410 RUB in Jan 1995. Russia Avg Consumer Price: CL: Children Clothing: Pre School Age: Mixture Fabric Overalls Size 48-60 data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA004: Average Consumer Price: Clothing and Linen.

The Russia Automotive Composites Market is experiencing robust growth, driven by the increasing demand for lightweight vehicles to improve fuel efficiency and reduce emissions. The market's Compound Annual Growth Rate (CAGR) exceeding 5% from 2019 to 2024 indicates a significant upward trajectory. This growth is fueled by several key factors. Firstly, the automotive industry in Russia is undergoing modernization, with manufacturers adopting advanced materials like carbon fiber and glass fiber reinforced polymers to enhance vehicle performance and durability. Secondly, the government's focus on promoting domestic manufacturing and reducing reliance on imports is creating favorable conditions for the growth of the automotive composites sector. Stringent emission regulations are also compelling manufacturers to explore lighter weight materials, further boosting the demand for composites. The market is segmented by material type (thermoset polymers, thermoplastic polymers, carbon fiber, glass fiber, and others), production type (hand layup, resin transfer molding, vacuum infusion processing, injection molding, compression molding), and application (powertrain components, exterior, interior, and structural assembly). While the specific market size for 2025 is not provided, considering the CAGR and the global trends, a reasonable estimate for the Russia Automotive Composites Market size in 2025 would fall within the range of $150 million to $250 million USD. This estimate accounts for the regional context and ongoing economic factors. However, challenges remain, including the volatility of the Russian economy and potential supply chain disruptions. These factors, along with the availability of cheaper alternative materials and the need for significant investment in manufacturing infrastructure, may act as restraints on market growth. The competitive landscape is relatively concentrated, with both international and domestic players contributing significantly. Companies like BASF, BMW, and Gurit are actively involved in supplying materials and technologies. However, the market also presents opportunities for smaller, specialized firms focusing on niche applications or innovative manufacturing processes. The forecast period of 2025-2033 suggests continued growth, driven by ongoing technological advancements in composite materials and manufacturing techniques. The adoption of advanced composite solutions in electric vehicles (EVs) and hybrid electric vehicles (HEVs) is anticipated to further propel market expansion during this period. Specific regional data is needed for a comprehensive analysis, but assuming a similar growth pattern across regions, a conservative estimation of the market size by 2033 could reach between $300 million and $500 million USD. Further research into specific regional data and detailed financial statements of leading companies would provide a more precise market analysis. Notable trends are: Trend to Decrease weight Driving Growth.

The Russian light vehicle market, encompassing passenger cars and light commercial vehicles, presents a dynamic landscape with significant growth potential. While precise figures for the market size in 2025 aren't provided, considering a global CAGR of 9.70% and Russia's substantial automotive sector, a reasonable estimate for the 2025 market size might range from $15-20 billion USD. This is a conservative estimate considering the potential for recovery and growth after periods of economic fluctuation. Key drivers for this growth include increasing disposable incomes, government initiatives to stimulate the automotive industry, and the gradual modernization of the existing vehicle fleet. The market segmentation reveals strong demand across fuel types, with gasoline remaining dominant but electric vehicle sales expected to grow considerably. Material choices continue to evolve, with increasing adoption of high-strength steel and a gradual rise in carbon fiber and glass fiber usage reflecting trends towards lighter and safer vehicles. However, the market faces constraints, including fluctuations in the ruble, economic sanctions, and potential supply chain disruptions due to geopolitical factors. Despite these challenges, positive long-term growth is projected, fueled by the expected improvement in the Russian economy and a government's focus on infrastructure development. The market is dominated by both international and domestic players, with companies like ThyssenKrupp, ArcelorMittal, and major automotive manufacturers actively competing. The forecast period (2025-2033) suggests sustained growth, albeit potentially with some volatility given the geopolitical context. A detailed analysis of regional variations within Russia, along with a deeper dive into consumer preferences and emerging technologies, would provide a more complete understanding of the market's trajectory. The penetration of electric vehicles and the related infrastructure development will be key indicators of future market trends. Notable trends are: Continuous Evolution in automotive AHSS technology.