GDP (annual) in Russia

Gross Domestic Product (GDP) measures the value of all final goods and services produced in Russia over a year. It is published by the statistics service Rosstat and is the broadest gauge of the size and pace of growth of the Russian economy.

Rosstat compiles GDP from the expenditure, production (sector value added plus net taxes on products) and income sides. It is expressed in roubles at current and constant prices, with the real year-on-year change measuring growth.

It is the main reference for Russia's cycle, heavily driven by oil and gas prices and by sanctions. Solid growth supports revenue and the rouble, whereas a weak reading weighs on Bank of Russia policy and the public finances.

It is released with a lag and estimates are revised later. Heavy energy dependence raises volatility, and doubts over the quality and transparency of official Russian statistics warrant caution when reading the figure.