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 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 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 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.

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.

This statistic shows the gross domestic product (GDP) per capita in Russia from 1997 to 2024, with projections up until 2030. 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. In 2024, the GDP per capita in Russia was around 14,794.7 U.S. dollars. See the Russian GDP for comparison. Russia's wealth Russia generates most of its wealth through its energy sector, given that a large percentage of its industrial and agricultural sectors have been privatized in the 1990s. The majority of Russia’s exports consisted of natural resources, such as oil, gas and metals. Russia’s primary export partners are located within Europe, with the exception of China, and are often the recipients of a large amount of Russia’s natural gas exports. The country’s second most important and influential sector is the military sector, due to having built up a complex arms industry and having the proficiency to produce high tech weapons. Russia ranks as one of the highest spenders for military production and is one of the more intimidating military powers in the world. Due to the privatization of Russia’s industrial and agricultural sectors, a rather large part of the population was able to capitalize on the market. Russia is home to one of the highest numbers of billionaires in the world, trailing only countries such as the United States and China.

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.

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'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.

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.

GDP from Manufacturing in Russia increased to 4974.40 RUB Billion in the second quarter of 2025 from 4553.40 RUB Billion in the first quarter of 2025. This dataset provides the latest reported value for - Russia Gdp From Manufacturing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Russia National Wealth Fund: % of GDP data was reported at 5.500 % in Feb 2025. This records a decrease from the previous number of 5.600 % for Jan 2025. Russia National Wealth Fund: % of GDP data is updated monthly, averaging 5.550 % from Jan 2008 (Median) to Feb 2025, with 206 observations. The data reached an all-time high of 12.800 % in Sep 2020 and a record low of 1.900 % in Aug 2008. Russia National Wealth Fund: % of GDP data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Russia Premium Database’s Government and Public Finance – Table RU.FE001: National Wealth Fund: Total Amount.

Russia MED Forecast: Real(GDP) Gross Domestic ProductGrowth: YoY: Baseline Scenario data was reported at 2.242 % in 2026. This records a decrease from the previous number of 2.263 % for 2025. Russia MED Forecast: Real(GDP) Gross Domestic ProductGrowth: YoY: Baseline Scenario data is updated yearly, averaging 2.259 % from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 4.700 % in 2021 and a record low of -3.000 % in 2020. Russia MED Forecast: Real(GDP) Gross Domestic ProductGrowth: 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.

The manufacturing sector's gross value added accounted for ***** percent of Russia's gross domestic product (GDP) in 2024, the largest share among other industries. Wholesale and retail trade followed, with a share exceeding **** percent. In total, Russia's GDP was estimated at **** trillion U.S. dollars at current prices in 2025 and was forecast to increase in the years until 2030.

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.

The regional economy of the Commonwealth of Independent States (CIS), including Georgia, Turkmenistan, and Ukraine, was estimated to have *** percent in 2023. The gross domestic product (GDP) of several countries in the region was negatively impacted by the Russia-Ukraine war that began in February of that year. For instance, the Belarusian economy was estimated to have regain around *** percent of its GDP in 2025.

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.

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.

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.

Key information about Russia External Debt: % of GDP

• Russia External Debt accounted for 13.4 % of the country's Nominal GDP in 2024, compared with the ratio of 15.3 % in the previous year.
• Russia External Debt: % of Nominal GDP data is updated yearly, available from Dec 1993 to Dec 2024.
• The data reached an all-time high of 90.9 % in Dec 1999 and a record low of 13.4 % in Dec 2024.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and annual Nominal GDP. The Bank of Russia provides External Debt in USD based on BPM6. Federal State Statistics Service provides Nominal GDP in local currency based on SNA 2008. The Bank of Russia average market exchange rate is used for currency conversions. External Debt as % of Nominal GDP prior to 2002 is calculated from External Debt based on BPM5. External Debt as % of Nominal GDP prior to 1995 is calculated from Nominal GDP based on SNA 1993.


Related information about Russia External Debt: % of GDP

• In the latest reports of Russia, Current Account recorded a deficit of 1.3 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) fell by 1.2 USD bn in Sep 2024.
• Russia Direct Investment Abroad fell by 1.8 USD bn in Sep 2024.
• Its Foreign Portfolio Investment fell by 3.4 USD bn in Sep 2024.
• The country's External Debt reached 290,393.0 in Dec 2024.
• The country's Nominal GDP was reported at 494.7 USD bn in Mar 2023.