Latest reading: Manufacturing output flatlined month on month in seasonally adjusted terms in June, which followed May’s 2.2% increase. Looking...
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 2014 to 2024.
Source: Macrobond.
Russia Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -2.1 | 6.3 | 0.9 | 4.3 | 4.6 |
Industrial output growth picks up pace in June
Latest reading: Industrial production increased 2.0% year on year in June (May: +1.8% yoy). The print was the best since January and was due to faster growth in manufacturing production plus a softer fall in mining and quarrying output. Meanwhile, energy output contracted at a sharper rate than in May. On a monthly basis, factory output dropped 1.7% in seasonally adjusted terms in June, contrasting May’s 2.5% expansion and marking the worst result since January. Annual average industrial production growth fell to 2.8% in June (May: +2.9%). This signals a worsening trend in the industrial sector.
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.
Latest Global Industrial production News
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South Africa: Manufacturing production flatlines in June -
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