Statistics service confirms Russia's GDP decrease by 2.1% in 2022

MOSCOW, Apr 7 (PRIME) -- Russia's gross domestic product (GDP) decreased by 2.1% in 2022 because of a lower index of added value in wholesale and retail trade, water supply and waste recycling, a decline in the processing industry, transport and storage, the Federal State Statistics Service said in a report confirming earlier data on Friday.

"Russia's GDP stood at 153.435 trillion rubles in 2022 in current prices. The index of GDP physical volume stood at 97.9% as compared with 2021. The GDP index deflator in 2022 amounted to 115.8%, as compared with the average annual prices in 2021," the report read.

Some industries demonstrated a higher physical volume index of added value, including agriculture, construction, hotels and restaurants, public administration, information and communication, and mining.

The decrease in October–December was assessed at 2.7% after 3.5% in July–September.

The Economic Development Ministry forecasted a 2.9% GDP fall in 2022 in September, and the central bank 2.5%.

(80.6713 rubles – U.S. $1)

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