Russian Federation GDP Annual Growth Rate

Russia’s gross domestic product advanced by 3.5% from a year ago in the first quarter of 2022, in line with preliminary estimates, below a 5% expansion in the previous period. It was the slowest growth in a year, on the back of weakening domestic demand amid the fallout from the Russia-Ukraine war and associated international sanctions. Among different activities, growth eased primarily in hotels & restaurants (6.2% vs 14.8% in Q4); information & communication (5.9% vs 10.6%); construction (4.7% vs 6.1%); wholesale and retail trade; repair of motor vehicles and motorcycles (3.7% vs 5.7%) and agriculture, forestry, hunting, fishing and fish farming (1.5% vs 4.7%). Meanwhile, output remained robust in mining (8.6% vs 9.7%), while it rose further in manufacturing (5.1% vs 4.6%).