Latest reading: Industrial production declined 4.3% on a calendar-adjusted month-on-month basis in August, following 1.3% growth in the prior month,...
Industrial Production in Russia
The Russian economy recorded an average industrial production growth rate of 2.6% in the decade to 2024. In 2024, industrial production growth was 4.5%. For more industry information, visit our dedicated page.
Russia Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Russia from 2025 to 2023.
Source: Macrobond.
Russia Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -2.1 | 6.3 | 0.9 | 4.3 | 5.6 |
Industrial production decelerates in August
Latest reading: Industrial production rose 0.5% on a year-on-year basis in August, following a 0.7% increase in the prior month, and marking the second consecutive deceleration. Relative to the previous month's figures, production readings in August softened for mining and quarrying (-2.5% on a year-on-year basis vs 0.0% in July) and water supply, sewerage, waste management and remediation activities (-5.6% vs -5.5% in July). In contrast, readings improved for manufacturing (+2.4% vs +1.5% in July) and electricity, gas, steam and air conditioning supply (-0.2% vs -0.6% in July). On a seasonally adjusted month-on-month basis, industrial production rose 0.7% in August, following a 0.6% decline in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Russian industry projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Russian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Russian industry projections.
Want to get access to the full dataset of Russian industry forecasts? Send an email to info@focus-economics.com.
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