The Russian economy advanced 5% year-on-year in July of 2023, following a 5.3% expansion in June. It marked the fourth consecutive month of growth after the GDP stayed in contraction for 12 straight months, due to the Kremlin's measures, boosting the production of military equipment and raising pensions, salaries, which increased demands and prices for a range of products and services in Russia. In January-July,, the gross domestic product increased by 2.1% year on year. source: Ministry of Economic Development

Monthly GDP YoY in Russia averaged 1.56 percent from 2005 until 2023, reaching an all time high of 11.60 percent in May of 2021 and a record low of -11.80 percent in May of 2009. This page includes a chart with historical data for Russia Monthly GDP YoY. Russia Monthly GDP YoY - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Monthly GDP YoY in Russia is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Monthly GDP YoY is projected to trend around 1.50 percent in 2024 and 2.30 percent in 2025, according to our econometric models.

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Russia Monthly GDP YoY



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-08-02 04:20 PM Jun 5.3% 5.4% 4.5% 4.5%
2023-08-30 05:10 PM Jul 5% 5.7% 4.5% 4.3%
2023-09-27 05:00 PM Aug

Russia Monthly GDP YoY
In Russia, Monthly GDP YoY measures the change in the value of the goods and services produced by the country's economy compared to the corresponding month in the previous year.
Actual Previous Highest Lowest Dates Unit Frequency
5.00 5.70 11.60 -11.80 2005 - 2023 percent Monthly

News Stream
Russian Economy Expands for 4th Month
The Russian economy advanced 5% year-on-year in July of 2023, following a 5.3% expansion in June. It marked the fourth consecutive month of growth after the GDP stayed in contraction for 12 straight months, due to the Kremlin's measures, boosting the production of military equipment and raising pensions, salaries, which increased demands and prices for a range of products and services in Russia. In January-July,, the gross domestic product increased by 2.1% year on year.
2023-08-30
Russian Economy Expands for 3rd Month
The Russian economy advanced 5.3% year-on-year in June of 2023, following a 5.4% expansion in May after the Russian economy grew the most since January of 2022. It marked the third consecutive months of growth after the GDP stayed in contraction for 12 straight months, due to the Kremlin's measures, boosting the production of military equipment and raising pensions, salaries, which increased demands and prices for a range of products and services in Russia. Compared to the previous month, the GDP edged up by a seasonally adjusted 0.04% after a 1.4% increase in the prior month.
2023-08-02
Russian Economy Grows 5.4% in May
The Russian economy expanded 5.4% year-on-year in May of 2023, following an upwardly revised 3.3% rise in April. It is the strongest economic performance since January of 2022 partially due to the low base of last year, and boosted by manufacturing, wholesale trade and the construction sector. Compared to two years ago, the GDP was up by 0.6%. Compared to the previous month, the GDP grew by a seasonally adjusted 1.4%. Considering the first five months of the year, the Russian economy expanded 0.6%.
2023-06-29