Page 35 - bne IntelliNews Country Report: Russia Dec17

4.0 Real Economy
Russia - Main Macro Indicators
2010 2011 2012 2013 2014 2015 2016
Annual GDP (y/y)
4.5 4.26 3.41 1.34 0.64 -3.7 -0.5
GDP (per capita)
10,675 13,324 14,079 15,531 13,873 9,055 8,731
GDP: Final consumption expenditure, (local currency)
32,096,141 37,208,226 42,205,094 47,163,119 56,336,400 59,116,800 59,822,700
GDP: Gross fixed investment capital formation, (local currency)
10,472,700 13,982,500 15,223,900 15,077,000 16,436,100 16,812,800 18,112,400
GDP: Exports, (local currency)
13,529,300 16,940,900 18,413,100 18,936,600 21,464,200 23,606,500 22,124,300
GDP: Imports, (local currency)
9,789,600 12,164,400 13,848,100 15,014,100 16,296,400 17,095,200 17,685,800
Source: Rosstat
4.1 Industrial production
Industrial output in Russia stalled in October failing to show growth for the first time since March and posting 0% year-on-year growth and slipping by 0.1% in month-on-month seasonally adjusted terms, Rosstat agency said on November 16.
Following the disappointing third-quarter GDP numbers, industrial output statistics in October show that 2.1% GDP growth goal of the Russian government for 2017 is not going to be a slam-dunk.
Analysts surveyed by Reuters expected industry to expand by 1.1% y/y in October after 0.9% growth seen in September.
In January-October overall industrial output expanded by 1.6% y/y , slowing from 1.8% y/y seen in January-September.
The negative dynamics of industrial output was due to falls in all components of the indicator , with utilities contracting by 2.1% due to warmer weather. Extraction slipped by 0.1% for the second month in a row, due largely to compliance with Opec+ oil output cuts.
Manufacturing showed only 0.1% gain in October as compared to 1.1% seen in September, which actually indicates decline given that October 2017 had one more working day more as compared to the same month of 2016.
Previously also manufacturing PMI numbers for October showed that while recovery in the output continued, it remains shaky from month to month.
35 RUSSIA Country Report December 2017 www.intellinews.com