Real Gross Domestic Product for Russia
NGDPRNSAXDCRUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,750,777.10
Year-over-Year Change
7.95%
Date Range
1/1/2011 - 10/1/2024
Summary
This trend measures the inflation-adjusted Gross Domestic Product (GDP) of Russia, a key indicator of the country's overall economic performance and growth.
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
Real GDP for Russia tracks the total value of all goods and services produced within the Russian economy, adjusted for price changes. It is a widely used metric for evaluating the health and trajectory of the Russian economy over time.
Methodology
Real GDP is calculated by the Russian Federal State Statistics Service using data on output, spending, and income.
Historical Context
Real GDP data is closely monitored by economists, policymakers, and investors to gauge Russia's economic conditions and guide economic and financial decisions.
Key Facts
- Russia is the world's 11th largest economy by nominal GDP.
- Real GDP growth in Russia averaged 1.7% per year from 2000 to 2021.
- Russia's economy relies heavily on exports of oil, gas, and other commodities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted Gross Domestic Product (GDP) of Russia, which is the total value of all goods and services produced within the Russian economy.
Q: Why is this trend relevant for users or analysts?
A: Real GDP for Russia is a key indicator of the country's overall economic performance and growth, and is closely monitored by economists, policymakers, and investors to gauge Russia's economic conditions and guide decisions.
Q: How is this data collected or calculated?
A: Real GDP is calculated by the Russian Federal State Statistics Service using data on output, spending, and income.
Q: How is this trend used in economic policy?
A: Real GDP data for Russia is used by policymakers, economists, and investors to assess the health of the Russian economy and inform economic and financial decisions.
Q: Are there update delays or limitations?
A: There may be delays in the availability of the most recent real GDP data for Russia due to the time required for data collection and processing by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product for Russia (NGDPRNSAXDCRUQ), retrieved from FRED.