Rosstat softened its estimate of the GDP decline in 2022 to 1.2% – Kommersant
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Rosstat has revised its estimate of Russia’s GDP decline in 2022 from 2.1% to 1.2%. According to updated data, in nominal terms, GDP for 2022 amounted to 155.350 trillion rubles, reports department.
Rosstat explains the clarification of the GDP estimate for 2022 with the receipt of data from the annual reporting results of the federal treasuries. “When performing calculations for 2021 and 2022, the preliminary results of the development of tables of resources and use of goods and services as part of the basic input-output tables for 2021, updated data on industry statistics and the balance of payments for these years were taken into account,” Rosstat explained.
The decline in GDP in 2022 compared to 2021 is associated with a decrease in the foreign trade balance against the backdrop of sanctions pressure. Compared to 2021, in the 2022 GDP structure, final consumption expenditures decreased from 67.8% to 64.8%, and gross capital formation decreased from 22.9% to 22.5%. In turn, the share of net exports increased from 9.3% to 12.7%. According to Rosstat, significant changes in the structure of GDP are associated with rising prices for exported fuel and energy goods.
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