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Russia's GDP reported the strongest rise since 2008

  • By Al Mayadeen Net
  • Source: Agencies
  • 9 Feb 2022 21:54
1 Min Read

The gross domestic product (GDP) of Russia rose 4.6% year-on-year in 2021, the biggest growth since 2008, as per the Ministry of Economic Development.

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  • Sparrow Hills view of the Moscow City Business District, 2019
    Sparrow Hills view of the Moscow City Business District, 2019

The gross domestic product (GDP) of Russia rose 4.6% year-on-year in 2021, the biggest growth since 2008, as per the Ministry of Economic Development.

"In 2021, GDP grew by 4.6%, fully offsetting a decline of 2.7% in 2020. In December, annualized GDP growth remained at high levels: 4.3% year-on-year (after 5.3% YoY in November, 4.9% YoY in October and 4.3% YoY in the third quarter of 2021), despite the high base in December 2020. As a result, relative to the corresponding month of 2019, the economic growth accelerated to 4.6% in December after 3.1% in November," the ministry said.

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In the fourth quarter of last year, the GDP grew by 4.8%, according to the ministry.

"The contribution to the economic recovery in 2021 was made by both manufacturing industries and industries focused on consumer demand," it added.

The full-year growth by 4.6% was higher than the ministry's forecast of 4.2% in September.

  • Russia
  • GDP

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