Russia’s GDP fell 3.7% year-on-year in 2015
Russia’s GDP declined 3.7% year-on-year in 2015, Russian national statistics agency Rosstat reported. The GDP fell 3.8% on an annualized basis in the fourth quarter of 2015.
Russia’s GDP amounted to 80.8 trillion rubles ($1.2 trillion) in 2015 in current prices. The GDP price deflator relatively to average annual prices of 2014 totaled 7.7% in 2015, Rosstat said.
According to Rosstat, agriculture (+3.1% year-on-year), household activities (+1.4), mineral resources production (+1.1%), and healthcare and social services sphere (+0.4%) showed the highest growth at the last year-end.
The highest decline was noted in wholesale and retail sector (-10% year-on-year), construction (-7.4%), processing industries (-5.1%), and hotels and restaurants business (-5.3%).
Final consumption expenditures totaled 71.7% in the Russia’s GDP structure at 2015 year-end and declined 0.5% year-on-year. At the same time, the net export share in the GDP was up 1.6% and reached 8.2%, Rosstat said. ■