FX.co ★ Russian GDP Growth Confirmed at 1.4%

In the first quarter of 2025, Russia's gross domestic product increased by 1.4%, marking a notable decline from the 4.3% growth registered in the previous quarter. This aligns with earlier estimates and is the slowest growth rate since the economy began to expand again in the second quarter of 2023, following the initial recovery from the downturn caused by Western sanctions. There was a contraction in output within the professional, scientific, and technical sectors (-1.3%), mining (-4%), and utility services (-3.8%). Conversely, the financial and insurance sectors witnessed substantial growth, climbing by 17.5%, and manufacturing also saw an increase of 4.5%. Furthermore, spending in public administration and military security remained strong, with a growth rate of 6.8%, largely due to the ongoing situation in Ukraine.