National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Russia
NAEXKP03RUQ652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,584,419,873,000.00
Year-over-Year Change
-4.77%
Date Range
1/1/2003 - 10/1/2016
Summary
This economic indicator measures the real, inflation-adjusted government final consumption expenditure in Russia. It is a key component of the country's gross domestic product (GDP) and provides insights into the role of government spending in the Russian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Government final consumption expenditure represents the value of goods and services consumed by the government for both individual and collective use. This data series offers a detailed breakdown of Russia's GDP by the expenditure approach, which is essential for analyzing the composition and drivers of economic growth.
Methodology
The data is collected and calculated by the Russian Federal State Statistics Service (Rosstat) based on international standards.
Historical Context
This indicator is closely monitored by policymakers, economists, and investors to assess the fiscal policy stance and its impact on the broader Russian economy.
Key Facts
- Government consumption accounts for around 18% of Russia's GDP.
- Real government consumption grew by 2.4% in 2021 after a 2.4% decline in 2020.
- Defense and public administration are the largest components of government spending in Russia.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real, inflation-adjusted government final consumption expenditure in Russia, which is a key component of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This data is essential for analyzing the composition and drivers of economic growth in Russia, as government spending plays a significant role in the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Russian Federal State Statistics Service (Rosstat) based on international standards.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored by policymakers, economists, and investors to assess the fiscal policy stance and its impact on the broader Russian economy.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and potential revisions by the Russian statistical agency.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Russia (NAEXKP03RUQ652S), retrieved from FRED.