In the first quarter of 2022, Russia’s real gross domestic product increased by 3.5% compared to the same period of the previous year. The GDP value of the period under review (34,629 billion rubles in current prices) was adjusted by price deflator 123.4%.
In the first quarter of 2022, most sectors of the economy experienced an increase in production compared to the corresponding period last year: in particular, hotels and restaurants (plus 6.2%), transport enterprises (plus 5.4%), manufacturing industries (plus 5.1%), construction (plus 4.7%), wholesale and retail trade (plus 3.7%).
The high values of deflator indices are due to the growth of world prices for energy resources, for building materials, as well as the growth of tariffs for freight and passenger transportation.
This preliminary GDP estimate made by the Federal Statistical Service of Russia is subject to change later on. The updated numbers and most actual data shall be included into our extended Market Reports.