Russia’s Gross Domestic Product Rose by 1.2% in 4Q 2008
OREANDA-NEWS. April 3, 2009. Russia’s gross domestic product (GDP) rose 1.2% in 4Q 2008 against the year-earlier period, the Federal Statistics Service reported Thursday. This is the statistical authority’s first estimate of quarterly data from 2008. Earlier, the Federal Statistics Service released only its annual GDP growth estimate which remained unchanged, equaling 5.6% vs. 2007.
It should be noted that a 1.2% rise of GDP is a 10-year low (since January-March 1999 when this metric declined by 1.9% compared to January-March 1998). FSS also slightly revised GDP values for January-September 2008. In 1Q 2008 the country’s GDP grew 8.7% (8.5% is the previous estimate), by 7.5% in April-June (also 7.5%) and 6% for the third quarter (6.2%). In terms of current prices, Russia’s GDP amounted to RUB 41.66 tn.
In 2008 the deflator index was equal to 119.1% against annual average prices of 2007. This year the Economic Development Ministry forecasts GDP to fall by 2.2%.
Комментарии