Russia GDP


Russia: Government GDP estimate points to lowest expansion in over three years

April 26, 2013

According to a flash estimate published by the Ministry of Economic Development on 22 April, the economy expanded 1.1% in the first quarter of 2013. If confirmed by final GDP figures, which will be released by Rosstat later in May, the result would mark a moderation compared to the 2.1% expansion recorded in Q4 2012 and would represent the slowest expansion since the fourth quarter of 2009.

The government recently slashed its GDP forecasts and now expects the economy to grow 2.4% in 2013, down from a previously expected 3.6%. FocusEconomics Consensus Forecast panellists expect GDP to grow 3.1% in 2013, which is down 0.2 percentage points from last month's forecast. Next year, the panel sees the economy growing 3.5%.

Author:, Head of Data Solutions

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Russia GDP Chart

Russia GDP Q1 2013

Note: Year-on-year changes of GDP in %.
Source: Federal State Statistics Service (Rosstat) and FocusEconomics Consensus Forecast.

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