In 2022, Russia's GDP fell by 2.1% year-on-year

According to preliminary statistics by the National Bureau of Statistics of the Russian Federation, Russia's GDP in 2022 was 151.5 trillion rubles (approximately 2.2 trillion US dollars), a year-on-year decrease of 2.1%. Among them, GDP in the first quarter increased by 3.5% year-on-year, decreased by 4.1% in the second quarter, decreased by 3.7% in the third quarter, and decreased by 4.6% in the fourth quarter. In terms of industry, the output value of wholesale and retail industries decreased the most, reaching 12.7%, while the manufacturing industry decreased by 2.4%, and the transportation and warehousing industry decreased by 1.8%. Agriculture grew by 6.6%, the construction industry by 5%, national governance, military security, and social security by 4.1%, and the extractive industry by 0.4%. Preliminary statistics from the Russian Central Bank show that in 2022, Russia's trade in goods and services reached $974 billion, up 23.4% year-on-year. Among them, exports reached US $628.1 billion, up 27.3% year-on-year; Imports reached US $345.9 billion, a year-on-year increase of 17%. The Central Bank of Russia has adjusted its GDP growth forecast for 2023 to - 1% - 1%.