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small businesses, insurance companies, state institutions, or banks.
On a sectoral level, extractive industries led the pack, where net profit was up 17.9%, and a staggering 40% for hydrocarbons. Agriculture, meanwhile, saw worse performance despite overall sector growth, with net profit down 22.3% largely due to decreasing grain prices
4.4 Fixed investment
Russia -Fixed capital investment 2012 2013 2014 2015 2016 2017 Mar-2018
Investment (% of GDP)
24.3 22.9 22.0 21.4 22.5 23.5 15.3
GDP: Gross fixed investment capital formation (USD mn)
471,337 496,982 428,573 276,240 280,350 342,294 58,303
source: CEIC
In 2018, fixed investment in Russia increased by 4.3% compared with the previous year, Rosstat reported. In nominal terms RUB17.5 trillion were invested. The actual figure exceeded the baseline forecast of the Ministry of Economic Development by almost 1.5 times - it provided for an increase in investment by 2.9%. Rosstat also raised its estimate for investment growth in 2017 from 4.4 to 4.8%. In the first quarter of 2018, investments grew in annual terms by 3.8%, in the second quarter - by 4.6%, in the third quarter growth accelerated to 6.4%, and in the fourth quarter - decreased to 2.9%. In 2019, the Ministry of Economic Development expects investment to grow by 3.1% with the dynamics increasing to 7.6% in 2020
Over the past eight years, the volume of private investment in the economy of the capital has doubled - to RUB2.4 trillion, Interfax reports, referring to the statement of the deputy mayor of the capital, Vladimir Efimov.
32 RUSSIA Country Report April 2019 www.intellinews.com