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 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 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 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.

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.

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

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

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.

Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010. Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year. Italy's economy was of a relatively similar size to that of the UK and France until the mid-2000s when it started to diverge, resulting in a difference of approximately 800 billion U.S dollars by 2018. Russia's economy had overtaken both Italy and Spain's in 2012, but has fallen since 2014 due to the drop in international oil prices and the economic sanctions imposed for its annexation of Crimea - economic growth is expected to be comparatively low in Russia in the coming years due to the economic fallout of its invasion of Ukraine in 2022. In 2025, Germany, now the world's third-largest economy, was estimated at over *** trillion 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 Budget deficit equal to 1.70 percent of the country's Gross Domestic Product in 2024. This dataset provides - Russia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Russia Private Debt: % of Nominal GDP

• Russia Private Debt accounted for 54.92 % of its Nominal GDP in Dec 2023, compared with a ratio of 56.01 % in the previous quarter
• Russia Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Sep 2002 to Dec 2023, with an average share of 40.83 %
• The data reached an all-time high of 56.01 % in Sep 2023 and a record low of 15.62 % in Sep 2002

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Loans to Non Financial Institutions, Individual Entrepreneurs and Individuals. The Bank of Russia provides Private Debt in local currency. Federal State Statistics Service provides Nominal GDP in local currency based on SNA 2008. Private Debt as % of Nominal GDP prior to Q4 2011 is calculated from Private Debt based on old classification and Nominal GDP based on SNA 1993. Private Debt is calculated as the sum of Loans to Non Financial Resident Organisations and Resident Individuals.

Following Russia’s invasion of Ukraine on 24 February, we've looked at which industries across the globe are likely to be most affected by the economic effects of the invasion.

Discover the booming Russian satellite-based Earth observation market. Explore its 7.58% CAGR, key drivers, restraints, and leading companies. Learn about market segmentation and future growth projections to 2033. Get insights into the role of Roscosmos and other key players in this expanding sector. 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.

The statistic shows the distribution of the workforce across economic sectors in Russia from 2013 to 2023. In 2023, 5.69 percent of the workforce in Russia was employed in agriculture, 26.38 percent in industry and 67.93 percent in services. Russia’s economy The majority of Russia’s labor force works in the services sector, which accounts for more than half of the jobs in the country. About 30 percent work in the industry sector and the rest in agriculture. Interestingly, Russia is among the leading export countries worldwide and agricultural products, as well as meat, are among the main exported goods. Russia’s economy also profits significantly from selling and exporting fish and sea food. Due to large oil resources, Russia is also among the largest economies and the countries with the largest gross domestic product / GDP worldwide. Subsequently, living and working conditions in Russia should be above average, but for a long time, many Russians have struggled to get by. While conditions seem to improve nowadays, many Russians still live below the poverty line. One suggested reason for this is corruption, which has been cited as a severe problem for the country for a long time, and continues to pose difficulties for Russia’s economy. Illicit employment and the so-called “shadow economy”, which does not officially contribute to the fiscal system, yields amounts worth almost half of Russia’s gross domestic product. This can be seen on a ranking of the untaxed economy in selected countries as a share of GDP. In addition to oil, fish and agricultural products, Russia also manufactures and exports arms and weapons. It is ranked third among the countries with the highest military spending, and second among the countries, in which military spending accounts for a significant percentage of the gross domestic product.

National Wealth Fund Assets in Russia increased to 164 USD Billion in October from 158.80 USD Billion in September of 2025. This dataset includes a chart with historical data for Russia National Wealth Fund Assets.

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.

Graph and download economic data for Infra-Annual Labor Statistics: Labor Force Male: From 15 to 74 Years for Russia (LFAC74MARUA647N) from 1992 to 2021 about 15 to 74 years, Russia, males, labor force, and labor.

Abstract

The Russia Longitudinal Monitoring Survey (RLMS) is a household-based survey designed to measure the effects of Russian reforms on the economic well-being of households and individuals. In particular, determining the impact of reforms on household consumption and individual health is essential, as most of the subsidies provided to protect food production and health care have been or will be reduced, eliminated, or at least dramatically changed. These effects are measured by a variety of means: detailed monitoring of individuals' health status and dietary intake, precise measurement of household-level expenditures and service utilization, and collection of relevant community-level data, including region-specific prices and community infrastructure data. Data have been collected since 1992.

Geographic coverage

National

Analysis unit

Households and individuals.

Kind of data

Sample survey data [ssd]

Sampling procedure

In Phase II (Rounds V - XX) of the RLMS, a multi-stage probability sample was employed. Please refer to the March 1997 review of the Phase II sample. First, a list of 2,029 consolidated regions was created to serve as PSUs. These were allocated into 38 strata based largely on geographical factors and level of urbanization but also based on ethnicity where there was salient variability. As in many national surveys involving face-to-face interviews, some remote areas were eliminated to contain costs; also, Chechnya was eliminated because of armed conflict. From among the remaining 1,850 regions (containing 95.6 percent of the population), three very large population units were selected with certainty: Moscow city, Moscow Oblast, and St. Petersburg city constituted self-representing (SR) strata. The remaining non-self-representing regions (NSR) were allocated to 35 equal-sized strata. One region was then selected from each NSR stratum using the method "probability proportional to size" (PPS). That is, the probability that a region in a given NSR stratum was selected was directly proportional to its measure of population size.

The NSR strata were designed to have approximately equal sizes to improve the efficiency of estimates. The target population (omitting the deliberate exclusions described above) totaled over 140 million inhabitants. Ideally, one would use the population of eligible households, not the population of individuals. As is often the case, we were obliged to use figures on the population of individuals as a surrogate because of the unavailability of household figures in various regions.

Although the target sample size was set at 4,000, the number of households drawn into the sample was inflated to 4,718 to allow for a nonresponse rate of approximately 15 percent. The number of households drawn from each of the NSR strata was approximately equal (averaging 108), since the strata were of approximately equal size and PPS was employed to draw the PSUs in each one. However, because response rates were expected to be higher in urban areas than in rural areas, the extent of over-sampling varied. This variation accounted for the differences in households drawn across the NSR PSUs. It also accounted for the fact that 940 households were drawn in the three SR strata--more than the 14.6 percent (i.e. 689) that would have been allotted based on strict proportionality.

Since there was no consolidated list of households or dwellings in any of the 38 selected PSUs, an intermediate stage of selection was then introduced, as usual. Professional samplers will recognize that this is actually the first stage of selection in the three SR strata, since those units were selected with certainty. That is, technically, in Moscow, St. Petersburg, and Moscow oblast, the census enumeration districts were the PSUs. However, it was cumbersome to keep making this distinction throughout the description, and researchers followed the normal practice of using the terms "PSU" and "SSU" loosely. Needless to say, in the calculation of design effects, where the distinction is critical, the proper distinction was maintained. The selection of second-stage units (SSUs) differed depending on whether the population was urban (located in cities and "villages of the city type," known as "PGTs") or rural (located in villages). That is, within each selected PSU the population was stratified into urban and rural substrata, and the target sample size was allocated proportionately to the two substrata. For example, if 40 percent of the population in a given region was rural, 40 of the 100 households allotted to the stratum were drawn from villages.

In rural areas of the selected PSUs, a list of all villages was compiled to serve as SSUs. The list was ordered by size and (where salient) by ethnic composition. PPS was employed to select one village for each 10 households allocated to the rural substratum. Again, under the standard principles of PPS, once the required number of villages was selected, an equal number of households in the sample (10) were allocated to each village. Since villages maintain very reliable lists of households, in each selected village the 10 households were selected systematically from the household list. In a few cases, villages were judged to be too small to sustain independent interviews with 10 households; in such cases, three or four tiny villages were treated as a single SSU for sampling purposes.

In urban areas, SSUs were defined by the boundaries of 1989 census enumeration districts, if possible. If the necessary information was not available, 1994 microcensus enumeration districts, voting districts, or residential postal zones were employed--in decreasing order of preference. Since census enumeration districts were originally designed to be roughly equal in population size, one district was selected systematically without using PPS for each 10 households required in the sample. In the few cases where postal zones were used, one zone was likewise selected systematically for each 10 households. However, where voting districts were used, to compensate for the marked variation in population size, PPS was employed to select one voting district for each 10 households required in the urban sub-stratum.

Given the lack of reliable official lists of households within the urban SSUs, we were obliged to develop the list of households from which 10 households were selected. First, a list of dwellings was made. Where more than one household was known to exist within a single dwelling (that is, in the communal apartments and enterprise dormitories that are relatively commonplace in the Russian Federation), the list was amended so that each household (or space within the dwelling) was enumerated in advance of selection. Then, the required number of households was drawn systematically, starting with a random selection in the first interval.

In both urban and rural substrata, interviewers were required to visit each selected dwelling up to three times to secure the interviews. They were not allowed to make substitutions of any sort. The interviewers' first task was to identify households at the designated dwellings. "Household" was defined as a group of people who live together in a given domicile, and who share common income and expenditures. Households were also defined to include unmarried children, 18 years of age or younger, who were temporarily residing outside the domicile at the time of the survey. If perchance the interviewer identified more than one household in the dwelling, he or she was obliged to select one using a procedure outlined in the technical report. The interviewer then administered a household questionnaire to the most knowledgeable and willing member of the household.

The interviewer then conducted interviews with as many adults as possible, acquiring data about their individual activities and health. Data for the children's questionnaires were obtained from adults in the household. By virtue of the fact that an attempt was made to obtain individual questionnaires for all members of households, the sample constitutes a proper probability sample of individuals as well as of households, without any special weighting. Actually, the fact that we did not interview unmarried minors living temporarily outside the domicile slightly diminished the representativeness of the sample of individuals in that age group.

The multivariate distribution of the sample by sex, age, and urban-rural location compared quite well with the corresponding multivariate distribution of the 1989 census. Of course, because of random sampling error and changes in the distribution since the 1989 census, we did not expect perfect correspondence. Nevertheless, there was usually a difference of only one percentage point or less between the two distributions.

Another way to evaluate the adequacy (or efficiency) of the sample was to examine design effects. An important factor in determining the precision of estimates in multi-stage samples was the mean ultimate cluster (PSU) size. All else being equal, the larger the size the less precise the measure is. In Rounds I through IV of the RLMS, the average cluster size approached 360--a large number dictated by constraints imposed by our collaborators. Thus, although the sample size covered around 6,000 households, precision was less than we would have liked for a sample of that size. In Rounds I and III of the RLMS, the 95 percent confidence interval for household income was about В±13 percent.

In the Phase II (Rounds V - XX) sample, the situation was considerably better. Although there were only 4,000 households, the mean size of clusters was much smaller than in Phase I. There were 35 PSUs with about 100 households each; even this result was an improvement over the average of 360 in the design of

Key information about Russia M2 Growth

• Russia Money Supply M2 increased 13.0 % YoY in Oct 2025, compared with a growth of 12.7 % in the previous month
• Russia Money Supply M2 growth data is updated monthly, available from Dec 1992 to Oct 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 396.9 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 17.3 Months of Import in Sep 2025
• Russia Domestic Credit reached 1,836.1 USD bn in May 2025, representing an increased of 14.1 % 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 494.4 USD bn in May 2025, accounting for 18.9 % of the country's Nominal GDP