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Russia's GDP for 2024 exceeded 200 trillion rubles ($2.05 trillion) — statistics service

The physical volume of GDP increased by 4.1% compared to 2023

MOSCOW, February 7. /TASS/. Russia's GDP for 2024 amounted to 200 trillion 39.5 billion rubles in current prices (about $2.05 trillion), according to the first estimate of the Federal Statistics Service.

The physical volume of GDP increased by 4.1% compared to 2023, the deflator increased by 8.9%.

The growth in the physical volume of GDP was due to an increase in domestic final demand (+4.8%) with a decline in net exports.

The growth in final consumption was affected by an increase in household spending for these purposes (+4%) and in final consumption expenditure in the public sector (+4.5%). The increase in gross accumulation was due to the accumulation of fixed capital and assets (+10.2%) with a decrease in the growth of inventories of working capital.

The Federal Statistics Service noted that the structure of the main components of GDP in 2024 relative to 2023 has changed slightly: the share of expenditure on final consumption increased from 68.4% to 68.8%, the share of gross accumulation did not change. The share of net exports decreased from 4.2% to 3.8%.

In the structure of GDP by sources of income in 2024 relative to 2023, the share of wages increased from 41.8% to 44.1%, the share of net taxes on production and imports decreased from 8.7% to 7.6%, the share of gross profit decreased from 49.5% to 48.3%.

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