Russian Federation - Nominal Gross Domestic Product

Russian Federation: Nominal Gross Domestic Product

Mnemonic GDP.IRUS
Unit Bil. RUB, NSA
Adjustments Not Seasonally Adjusted
Quarterly 8.7 %
Data 2018 Q4 29,486
2018 Q3 27,127

Series Information

Source Federal State Statistics Service (Rosstat)
Release GDP by Expenditure
Frequency Quarterly
Start Date 3/31/1995
End Date 12/31/2018

Russian Federation: GDP

Reference Last Previous Units Frequency
Government Consumption 2018 Q4 4,598 4,525 Bil. RUB, NSA Quarterly
Investment 2018 Q4 7,863 6,525 Bil. RUB, NSA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q4 8,449 5,416 Bil. RUB, NSA Quarterly
Nominal Gross Domestic Product 2018 Q4 29,486 27,127 Bil. RUB, NSA Quarterly
Private Consumption 2018 Q4 13,754 13,105 Bil. RUB, NSA Quarterly
Real Fixed Investment (gross fixed capital formation) 2016 Q4 4,223 2,726 Bil. 2011 RUB, NSA Quarterly
Real Government Consumption 2016 Q4 2,686 2,658 Bil. 2011 RUB, NSA Quarterly
Real Gross Domestic Product 2016 Q4 16,668 15,927 Bil. 2011 RUB, NSA Quarterly
Real Investment 2016 Q4 3,663 3,529 Bil. 2011 RUB, NSA Quarterly
Real Private Consumption 2016 Q4 7,866 7,538 Bil. 2011 RUB, NSA Quarterly

Release Information

From the quarterly national accounts for Russia, the expenditure approach to GDP ("use of GDP"), at current and constant prices. Quarterly from 1995.

System of National Accounts (SNA) - a system of interrelated indicators used for the description and analysis of macroeconomic processes in more than 150 countries with a market economy. SNA originated about 50 years ago in the most economically developed countries due to the need for the information needed to analyze the state of the economy, the formation of economic policy and the adoption of measures to regulate the market economy.

The conceptual framework of the SNA Russia is the "System of National Accounts", developed under the auspices of the Inter-Secretariat Working Group on National Accounts. Starting 2017, the source has implemented methodological changes based on SNA 2008, NACE Rev. 2

Some deviations from the international standards have no significant impact on the quantification of indicators and associated with the peculiarities of the Russian economy.

The System of National Accounts in Russia includes the following sectors:

  • By products and services;
  • By production;
  • Generation of income account;
  • Allocation of primary income account;
  • Secondary distribution of income;
  • Use of disposable income;
  • Capital account;
  • Financial account. 

The most important indicator of the System of National Accounts is the Gross Domestic Product (GDP), which characterizes the final result of production activity of resident economic units, which is measured by the value of goods and services produced by these units for final use.

Gross domestic product can be calculated by three methods, corresponding to different stages of reproduction - the production, by the use of revenues and the method of formation of GDP by source of income.

GDP calculated by production method is the sum of gross value added of all industries or institutional sectors in basic prices plus net taxes on products.

GDP, calculated by the use of income is the sum of the costs of all institutional sectors of final consumption, gross capital formation and net exports.

GDP produced by the formation of sources of income is the sum of compensation of employees (residents and non-residents), the gross profit of all branches or institutional sectors and net taxes on production and imports. This method is not independent, since in accordance with the methodology, not all indicators of incomes can be measured directly and some of them are calculated by the balance method.

The production boundary defined in the SNA as all the activities of resident units of the national economy (including the activities of foreign and mixed enterprises with the center of economic interests in Russia and operating it on a permanent basis) for the production of goods and services. Production sector covers the activities of enterprises producing goods and services of both market and non-market (for free or sold at prices that are not economically significant, and no significant impact on the demand).

Data are preliminary when first released.  No revisions have been undertaken to the estimates before 1995 because of differences in the methodology and in the source data used to derive the estimates for the earlier periods. The first set of preliminary quarterly estimates are disseminated 50 working days after the end of the period and revised 80 working days after the end of the period.  The set of quarterly estimates for a given calendar are finalized 24 months after the end of that calendar year, along with the annual estimates for that year.

Starting 2014, the data is presented including Crimea and Sevastopol.

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