The Gross Domestic Product (GDP) in Russia contracted 3.20 percent in the second quarter of 2020 over the previous quarter. source: OECD

GDP Growth Rate in Russia averaged 0.67 percent from 1995 until 2020, reaching an all time high of 4.10 percent in the first quarter of 1999 and a record low of -5.40 percent in the third quarter of 1998. This page provides the latest reported value for - Russia GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia GDP Growth Rate - values, historical data and charts - was last updated on December of 2020.

GDP Growth Rate in Russia is expected to be -0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Russia to stand at 1.40 in 12 months time. In the long-term, the Russia GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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Russia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-3.20 -0.90 4.10 -5.40 1995 - 2020 percent Quarterly


Russia GDP Growth Rate
Russia is the largest country in the world and the eleventh biggest economy. The Russian economy is commodity-driven. Russia is the world’s largest producer of oil (14 percent of world output), natural gas (18 percent) and nickel (12 percent). The energy sector is the most important, it contributes 20-25 percent of GDP, 65 percent of total exports and 30 percent of government budget revenue.