Russia: Real gross domestic product (GDP) growth rate from 2012 to 2022 (compared to the previous year)

Gross domestic product (GDP) growth rate in Russia 2022 The statistic depicts Russia's gross domestic product (GDP) growth rate from 2012 to 2017, with projections up until 2022. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2017, Russia's real GDP grew by about 1.55 percent compared to the previous year.
Trade balance of Russia

With the exception of 2009, Russia’s gross domestic product was relatively stable year-over-year, however at a higher rate prior to the financial crisis. In 2012, Russia reported a trade surplus, meaning that more goods and services combined were exported than imported. However, Russia primarily profited from exporting goods, earning the majority of its revenues from its trade balance of goods, while the nation posted a trade deficit on its services, its highest loss recorded since 2003.

Russia imports and exports its products and services primarily to neighboring countries or countries in Europe. Russia’s most important trade partner is arguably China, potentially due to shared borders and strong political relations between the two nations. China is accountable for roughly 19.2 percent of all of Russia’s imports, however only makes up roughly 8.3 percent of the country’s total exports. China has become an important import partner for many nations around the world as well as a country where larger companies can manufacture goods at a cheaper price.
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GDP growth rate compared to previous year
20123.7%
20131.8%
20140.7%
2015-2.5%
20160.2%
20171.55%
2018*1.71%
2019*1.49%
2020*1.5%
2021*1.5%
2022*1.5%
GDP growth rate compared to previous year
20123.7%
20131.8%
20140.7%
2015-2.5%
20160.2%
20171.55%
2018*1.71%
2019*1.49%
2020*1.5%
2021*1.5%
2022*1.5%
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Description Source More information
The statistic depicts Russia's gross domestic product (GDP) growth rate from 2012 to 2017, with projections up until 2022. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2017, Russia's real GDP grew by about 1.55 percent compared to the previous year.
Trade balance of Russia

With the exception of 2009, Russia’s gross domestic product was relatively stable year-over-year, however at a higher rate prior to the financial crisis. In 2012, Russia reported a trade surplus, meaning that more goods and services combined were exported than imported. However, Russia primarily profited from exporting goods, earning the majority of its revenues from its trade balance of goods, while the nation posted a trade deficit on its services, its highest loss recorded since 2003.

Russia imports and exports its products and services primarily to neighboring countries or countries in Europe. Russia’s most important trade partner is arguably China, potentially due to shared borders and strong political relations between the two nations. China is accountable for roughly 19.2 percent of all of Russia’s imports, however only makes up roughly 8.3 percent of the country’s total exports. China has become an important import partner for many nations around the world as well as a country where larger companies can manufacture goods at a cheaper price.
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Release date
April 2018
Region
Russia
Survey time period
2012 to 2017
Supplementary notes
* Estimate.

Values have been rounded to provide a better understanding of the statistic.

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