Russia - GDP (current US$)

The latest value for GDP (current US$) in Russia was $1,657,550,000,000 as of 2018. Over the past 30 years, the value for this indicator has fluctuated between $2,297,130,000,000 in 2013 and $195,907,000,000 in 1999.

Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1988 $554,713,000,000
1989 $506,500,000,000
1990 $516,814,000,000
1991 $517,963,000,000
1992 $460,291,000,000
1993 $435,084,000,000
1994 $395,077,000,000
1995 $395,537,000,000
1996 $391,725,000,000
1997 $404,929,000,000
1998 $270,955,000,000
1999 $195,907,000,000
2000 $259,710,000,000
2001 $306,602,000,000
2002 $345,470,000,000
2003 $430,348,000,000
2004 $591,017,000,000
2005 $764,017,000,000
2006 $989,931,000,000
2007 $1,299,710,000,000
2008 $1,660,850,000,000
2009 $1,222,640,000,000
2010 $1,524,920,000,000
2011 $2,051,660,000,000
2012 $2,210,260,000,000
2013 $2,297,130,000,000
2014 $2,059,980,000,000
2015 $1,363,590,000,000
2016 $1,282,720,000,000
2017 $1,578,620,000,000
2018 $1,657,550,000,000

Limitations and Exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Periodicity: Annual


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts