In 2021, Russia’s real gross domestic product increased by 4.7% compared to the previous year. The GDP value of the period under review (131 015 billion rubles in current prices) was adjusted by price deflator 116.5%.
The intra-annual dynamics of GDP in 2021, starting from the second quarter, has been showing high economic growth rates compared to the same quarters of 2020 and 2019, which indicates the recovery of the Russian economy after the pandemic.
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 24.1%), culture and sports (plus 8.4%), wholesale and retail trade (plus 8%), other services provided to the population (plus 8%), transportation and storage (plus 7.7%), construction (plus 5.8%), manufacturing industries (plus 4.5%).
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.