OREANDA-NEWS  Rosstat confirmed a 2.1% decline in the Russian economy in 2022; in the fourth quarter of last year, the decline in GDP slowed to 2.7% in annual terms after a 3.5% decline in the third, according to Rosstat data.

Rosstat on Friday published the second estimate on the dynamics of the GDP of the Russian Federation for 2022, the first estimate of the results of the fourth quarter and updated estimates for the first and third quarters of last year. "The volume of Russia's GDP for 2022 amounted to 153.435 trillion rubles at current prices. The index of the physical volume of GDP relative to 2021 was 97.9%, the deflator index relative to the average annual prices of 2021 was 115.8%," the document says. The decline in Russia's GDP in the fourth quarter of 2022 slowed to 2.7% in annual terms after a decline of 3.5% in the third, according to Rosstat data. The previous estimate of the decline in the third quarter was 3.7%. According to the updated data of the statistical office, in the second quarter, the GDP of the Russian Federation fell by 4.5% (the estimate worsened from the previous 4.1%), in the first quarter it grew by 3% (the previous estimate was an increase of 3.5%).

Rosstat's comments indicate that the decline in GDP in 2022 was affected by a reduction in the index of physical volume of value added in the following industries: wholesale and retail trade (by 12.7%); water supply, sanitation, waste collection and disposal, pollution control activities (by 6.8%); manufacturing (by 2.5%); transportation and storage (1.8%).