Latest reading: Industrial output grew 18.6% year on year in June (May: +22.1% yoy), driven chiefly by booming manufacturing output...
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 rises but remains mild in May
Latest reading: Industrial production rose 1.8% year on year in May, improving from April’s 1.5% expansion but continuing to undershoot the pre-Covid decade average and remaining weak by post-invasion standards. A faster increase in manufacturing underpinned the upturn, outweighing declines in energy and water supply plus a sharper fall in mining and quarrying output. As a result, the trend pointed down, with the annual average growth of industrial production easing to 2.9% from April's 3.2% reading. On a seasonally adjusted monthly basis, industrial output rose at a quicker rate of 2.6% in May (April: +1.0% mom s.a.), the best result since August 2020.
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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Taiwan: Industrial output growth remains buoyant in June -
Malaysia: Industrial output records slowest expansion since December 2023 in May Latest reading: Industrial output grew 0.3% compared to the same month of the previous year in May, which was a... -
Euro Area: Industrial output rebounds in May Latest reading: Industrial production expanded 1.7% month-on-month in seasonally adjusted terms in May (April: -2.2% mom s.a.). The improvement was... -
Hungary: Decline in industrial activity persists in May Latest reading: Industrial output decreased 2.4% year on year in May, matching April’s drop. While manufacturing output fell at a... -
Austria: Industrial output deteriorates in May Latest reading: Industrial output fell 0.7% in month-on-month seasonally adjusted terms in May, which was a worse than April’s 0.6%... -
Cyprus: Industrial output flatlines in May Latest reading: Industrial output was flat year on year in calendar-adjusted terms in May, which was a deterioration from April’s... -
Turkey: Industrial output rebounds in May Latest reading: Industrial output rose 3.2% in month-on-month seasonally adjusted terms in May, which contrasted April’s 3.1% decrease. Looking at...