In the second quarter of 2021, Russia’s real gross domestic product increased by 10.5% compared to the same period of the previous year. The GDP value of the period under review (30 853 billion rubles in current prices) was adjusted by price deflator 118%.
During the reporting period, the growth of value added has been shown by almost all industries. In particular, a notable growth was observed in such sectors as hotels and restaurants (plus 109.2%), culture and sports (plus 34.5%), wholesale and retail trade (plus 21.6%), transportation and storage (plus 19%), other services provided to the population (plus 16.8%), manufacturing industries (plus 10.5%), construction (plus 10.3%).
Most industries also have been able to outperform the pre-pandemic levels of 2019, for instance: construction (plus 6.8%), wholesale and retail trade (plus 5.6%), manufacturing industries (plus 2.4%). Still, some industries failed to reach the level of Q2 2019, including the following ones: hotels and restaurants (minus 9.4%), transportation and storage (minus 4.2%), other services provided to the population (minus 4.1%), culture and sports (minus 1.5%).
This preliminary GDP estimate made by the Federal Statistical Service of Russia is subject to change later on. The updated numbers and most actual data shall be included into our extended Market Reports.