GDP up by 4.6% y-o-y in 9M21 pointing to a deceleration in 2022

RUSSIA ECONOMICS - In Brief 15 Dec 2021 by Alexander Kudrin
Rosstat reported that Russia’s nominal GDP reached R33.9 trln in 3Q21. In 4Q21 the nominal figure will be even higher so that GDP in 2021 as a wh0le will exceed R128 trln, as was reported in our recent forecast. The 9M21 GDP was up by 4.6% y-o-y - having increased by 4.3% y-o-y in 3Q21 and by 7.4% Q-o-Q (not seasonally adjusted). Manufacturing grew in 9M21 by 4.7% which was faster than mining (2.4%). Though, manufacturing growth is seen decelerating, while growth in mining gets stronger. The finance and insurance segment was up by 9.6% y-o-y in 9M21, trade (retail and wholesale combined) grew by 9.0% over the same period, while construction increased by 5.4% y-o-y. These numbers are in line with the aforementioned forecast that suggests that GDP this year will be up by around 4.2%, and will decelerate in 2022.Evgeny GavrilenkovAlexander Kudrin

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.