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Russia’s 2015 GDP dropped 3.7% — Federal Statistics Service

February 02, 21:20 UTC+3 MOSCOW
The GDP in 2015 at current prices amounted to 80.41 trillion rubles ($1.01 trillion)
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© Sergey Konkov/TASS

MOSCOW, February 2. /TASS/. The decline of Russia's GDP in 2015 amounted to 3.7%, the Russian Federal Statistics Service (Rosstat) said Tuesday, thus confirming its preliminary forecast.

The GDP in 2015 at current prices amounted to 80.41 trillion rubles ($1.01 trillion).

According to Rosstat, the largest increase at the end of last year was recorded in agriculture (3.5% yoy), the activities of households (1.4%), mining (1.1%), as well as the field Health and Human Services. services (+ 0.3%).

The largest drop was noted in the segment of wholesale and retail trade (-10.1%), construction (-7.5%), manufacturing (-5.5%), hotels and restaurants (-5.2%).

The share of final consumption expenditure in the Russia’s GDP at the end of 2015 was 71.6%, which is 0.6 percentage points less than in 2014 (72.2%). This was due to a decrease in the share of household expenditure by 0.6 percentage points - to 52.6% in GDP. In turn, the share of net export in GDP increased by 1.4 percentage points up to 8%.

In monetary terms, household expenditures totaled 43.3 trillion rubles ($548.12 bln) against 41.43 trillion rubles ($524.4 bln) last year, state administration - 15.48 trillion ($196.04 bln) against 14.61 trillion rubles ($185.02 bln).

Earlier, Economic Development Minister Alexey Ulyukayev estimated decline of Russia's GDP at 3.9%.

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