Includes Russia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Russia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Russia best banks and safest banks are also available.
Basic Information
Government Type: Semi-presidential federation
Capital City: Moscow
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Central Bank of the Russian Federation |
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Currency | Russian rubles (RUB) |
International Reserves |
USD 596.77 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 1,647.57 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 1,647.57 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 1.8% 2018 2.8% 2019 2% 2020* -3% 2021* 4.7% *Estimate |
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GDP per capita – current prices |
USD 11,273.24 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 30,431.21 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total | 3.08% (2021 estimate) |
GDP – composition by sector |
agriculture: 3.7% industry: 30.0% services: 56.3% (2020 estimate) |
Gross domestic expenditure on R&D; (% of GDP) |
1.0% (2019) OECD, retrieved January 2022 |
Inflation |
2017 3.7% 2018 2.9% 2019 4.5% 2020* 3.4% 2021* 5.9% *Estimate |
Russia
Inflation & Debt
Inflation |
2017 3.7% 2018 2.9% 2019 4.5% 2020* 3.4% 2021* 5.9% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: BBB– Moody’s: Baa3 Standard & Poor’s / Moody’s (Updated as of January 24th 2017) |
Unemployment rate |
2017 5.2% 2018 4.8% 2019 4.6% 2020* 5.8% 2021* 4.9% *Estimate |
Household saving rates |
4.3% (2019) OECD, retrieved January 2022 |
Public debt (General government gross debt as a % of GDP) |
2017 14.3% 2018 13.6% 2019 13.8% 2020* 19.3% 2021* 17.9% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 1% 2018 3.4% 2019 2.2% 2020* -3.8% 2021* 0% *Estimate |
Market value of publicly traded shares | USD 694.7 billion (2020) |
Largest Companies |
Sberbank, Rosneft, Surgutneftegas, Gazprom, Norilsk Nickel, LukOil, Transneft, Novatek, VTB Bank, Tatneft, Novolipetsk Steel, Severstal, Rosseti, Polyus, EN+ Group International, Inter Rao, X5 Retail Group, Magnit, Moscow Exchange, Magnitogorsk Iron & Steel, Credit Bank of Moscow, Sistema, PIK Group, RusHydro Forbes Global 2000 (2021) |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
25.5% (2020) World Bank – World Development Indicators (updated Feb 2022) |
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Shares in world total merchandising export |
1.9% (2020) United Nations Conference on Trade and Development (UNCTAD) |
Shares in world total commercial services export |
0.9% (2020) Compiled by GFMag – Based on World Bank – World Development Indicators |
Total exports |
USD 379.7 billion (2020 estimate) United Nations Conference on Trade and Development (UNCTAD) |
Export commodities | Crude petroleum, refined petroleum, natural gas, coal, wheat, iron (2019) |
Total imports | USD 305 billion (2020 estimate) |
Import commodities | Cars and vehicle parts, packaged medicines, broadcasting equipment, aircraft, computers (2019) |
Exports – major partners | China 14%, Netherlands 10%, Belarus 5%, Germany 5% (2019) |
Imports – major partners | China 20%, Germany 13%, Belarus 6% (2019) |
Competitiveness & Trade
Current account balance |
USD 94.6 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
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Current account balance by percentage of GDP |
5.7% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2019 USD 13.2 billion 2020 USD 32.1 billion 2021 USD 9.7 billion |
FDI Outflows |
2018 USD 35.8 billion 2019 USD 22 billion 2020 USD 6.3 billion |
Value of cross-border M&A, by country of purchaser |
2019 USD 1.5 billion 2020 USD –4.8 billion 2021 USD 61 million |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 28 out of 190 countries (2020) Subcategories: Starting a Business: 40 out of 190 countries Dealing with Construction Permits: 26 out of 190 countries Getting Electricity: 7 out of 190 countries Registering Property: 12 out of 190 countries Getting Credit: 25 out of 190 countries Protecting Minority Investors: 72 out of 190 countries Paying Taxes: 58 out of 190 countries Trading across Borders: 99 out of 190 countries Enforcing Contracts: 21 out of 190 countries Resolving Insolvency: 57 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking |
100 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 113 / Score: 56.1 (Mostly Unfree) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Total Area |
17,098,242 sq km |
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Total Population |
1990 148.3 Million 2000 146.3 Million 2010 142.9 Million 2015 146.5 Million 2020 146.62 Million |
Urban population as % of total population |
1960 53.7% 1980 69.8% 2000 73.4% 2020 74.4% |
Population median age |
39.8 years (2018 estimate) |
Population growth rate | -0.11% (2018 estimate) |
Life expectancy |
71.3 years (2018 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day | 0.3% (last available estimate, 2015) |
Inequality of wealth distribution (Gini index) |
37.7 (last available estimate, 2015) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Political Rights: 7 Civil Liberties: 6 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population | Fixed: 22% (2017) Mobile: 157.4% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 80.86 % (2018) |
Language & Religon
Languages | Russian (official) 85.7%, Tatar 3.2%, Chechen 1%, other 10.1% (2010 est.) |
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Literacy |
Total population: 99.7% Male: 99.7% Female: 99.6% Definition: age 15 and over can read and write (2015 est.) |
Religions | Russian Orthodox 15-20%, Muslim 10-15%, other Christian 2% (2006 est.) |
World Rankings
Population | 146.62 million |
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Mercer Cost of living index |
Moscow: 27th St. Petersburg: 75th (2019) |
C02 Emissions per capita |
11.86 metric tons per capita (2014) |
Global Finance Rankings & Awards: Russia
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000