Russia’s GDP down 0.4% in H1 2022

Russia’s GDP moved down by 0.4% year-on-year in the first half of 2022, the Russian Federal State Statistics Service (Rosstat) said on Friday, reports citing TASS.

GDP totaled 69.3 trillion rubles ($1.14 trillion) in the first half of this year.

National GDP declined by 4.1% in annual terms in the in the second quarter of this year but showed an increase by 0.6% quarter on quarter. It amounted to 34.66 trillion rubles ($570.3 bln) in current prices.

According to statistics, GDP declined in the second quarter in view of the contraction of the added value in such areas as mineral resources mining (by 0.8%), processing industries (4%), water supply, drainage, gathering and disposal of waste and contamination cleanup (9.2%), wholesale and retail trade (14.1%), transportation and storage (3.9%), and hotels and restaurants (3.5%). At the same time, some sectors manifested growth of the index of the added value physical volume: agriculture (1.7%), electricity, gas and steam supply (2%), construction (3.4%), information and communications (2%), and real estate transactions (1.4%).

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