Tuesday, April 16, 2024
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Positive in the third quarter

(+4.3%) Real GDP • RUS • Jul-Sep 2021/20

In the third quarter of 2021, Russia’s real gross domestic product increased by 4.3% compared to the same period of the previous year. The GDP value of the period under review (33 911 billion rubles in current prices) was adjusted by price deflator 117.9%.

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 16.7%), other services provided to the population (plus 10.7%), transportation and storage (plus 7.1%), wholesale and retail trade (plus 6.4%), culture and sports (plus 5.6%), construction (plus 4.5%), manufacturing industries (plus 3.3%).

Most industries also have been able to outperform the pre-pandemic levels of 2019, for instance: wholesale and retail trade (plus 5%), manufacturing industries (plus 3.3%), construction (plus 2.3%). Still, some industries failed to reach the level of Q3 2019, including the following ones: hotels and restaurants (minus 7.1%), culture and sports (minus 6.8%), transportation and storage (minus 3.4%).

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.


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Macroregional Context