MOSCOW, 11 Aug. Rosstat presented a preliminary estimate of the growth of the Russian economy for the second quarter of 2023 — in annual terms, GDP growth amounted to 4.9% after a decline of 1.8% in the first quarter of 2023.
«GDP physical volume index in in the second quarter of 2023 compared to the second quarter of 2022, according to preliminary estimates, amounted to 104.9%,» the agency reports.
The preliminary estimate of GDP for the second quarter of 2023 is based on the operational statistical reporting of large and medium-sized enterprises in the non-financial sector of the economy.
The largest growth was recorded in passenger turnover (+19.8%), wholesale trade (+12.5%) and manufacturing industries (+11.3%). Construction (+9.8%), retail trade (+9.0%), agriculture (+2.9%) and mining (+1.1%) also showed growth.
First estimate published GDP for the second quarter will be held on September 8, it will take into account the data clarifications received from respondents and additional information from ministries, departments and the Bank of Russia.
The Bank of Russia earlier estimated the country's GDP growth in the second quarter at 4.8% in annual terms. The Ministry of Economic Development predicts that Russia's GDP growth in 2023 will be 1.2%. At the same time, in early August, the head of the ministry, Maxim Reshetnikov, said that the Russian economy would definitely grow by more than 2% by the end of the year. Earlier it was reported that the Ministry of Economic Development estimated GDP growth in Russia in the first half of the year at 1.4%.