The Dynamics and Pattern of Economic Growth in Russia in 2019

Russian Economy in 2019. Trends and Outlooks. Moscow. IEP. 2020. Issue 41, pp. 169-191

25 Pages Posted: 27 Oct 2020

See all articles by Olga Izryadnova

Olga Izryadnova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Andrey Kaukin

Gaidar Institute for Economic Policy; Russian Foreign Trade Academy

Evgenia Miller

Russian Presidential Academy of National economy and public administration

Date Written: September 6, 2020

Abstract

Unlike the previous two years when the domestic market’s weakness was made up for by growth in the foreign trade balance and net exports, in 2019 the development of the Russian economy took place amid a simultaneous decline of the growth rates of overall domestic demand and foreign trade. In 2019, GDP growth rates calculated as per the methods of the system of national accounts (SNA) amounted to 101.3 percent, a decrease of 1.2 percentage point as compared with the index value of the previous year. For the first time in the past decade, in 2019 the economic situation became complicated owing to a 2.1 percent decrease in exports’ volumes as per the SNA methods in comparable prices relative to the previous year’s index value. Consequently, in 2019 net exports’ contribution to GDP as per SNA methods fell to 2.5 percent against 3.6 percent a year before.

Keywords: Russian Economy, Production, External and Internal Demand, GDP Structure

JEL Classification: G16, G28

Suggested Citation

Izryadnova, Olga and Kaukin, Andrey and Miller, Evgenia, The Dynamics and Pattern of Economic Growth in Russia in 2019 (September 6, 2020). Russian Economy in 2019. Trends and Outlooks. Moscow. IEP. 2020. Issue 41, pp. 169-191, Available at SSRN: https://ssrn.com/abstract=3688047

Olga Izryadnova

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration ( email )

Vernadsky Avenue 82
Moscow, 119571
Russia

Andrey Kaukin (Contact Author)

Gaidar Institute for Economic Policy ( email )

Moscow, 125993
Russia

Russian Foreign Trade Academy

4a Pudovkin str.
Moscow, 119285
Russia

Evgenia Miller

Russian Presidential Academy of National economy and public administration ( email )

Vernadskogo Prospect 82
Moscow, 119571
Russia

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