Rosstat estimated the decline in GDP in the first quarter at 1.9% – Kommersant
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In the first quarter of 2023, GDP in Russia decreased by 1.9% year-on-year. This follows from preliminary evaluation Rosstat.
The Rosstat data turned out to be better than the estimates of the Ministry of Economy (2.1%) and the Central Bank (2.3%). According to Rosstat, growth was demonstrated by such sectors of the economy as:
- manufacturing industries +1.1%;
- agriculture +2.9%;
- construction +8.8%;
- passenger turnover +15.7%.
The decrease in the indicator in the first quarter was affected by the dynamics in wholesale and retail trade, mining, and cargo turnover. The first real estimate of GDP for the first quarter of 2023 will be published on June 15.
The report of the Ministry of Economy on GDP for the first quarter emphasizedthat the decline in the economy is observed, among other things, against the background of a “voluntary decline in oil production”. In March, the indicator decreased by 1% compared to February and by 3.6% yoy.
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