The Dynamics and Pattern of Economic Growth in Russia in 2019

Unlike the previous two years when the domestic market's weakness was made up for by growth in the foreign trade balance and net exports, in 2019 the development of the Russian economy took place amid a simultaneous decline of the growth rates of overall domestic demand and foreign trade. In 2019, GDP growth rates calculated as per the methods of the system of national accounts (SNA) amounted to 101.3 percent, a decrease of 1.2 percentage point as compared with the index value of the previous year. For the first time in the past decade, in 2019 the economic situation became complicated owing to a 2.1 percent decrease in exports' volumes as per the SNA methods in comparable prices relative to the previous year's index value. Consequently, in 2019 net exports' contribution to GDP as per SNA methods fell to 2.5 percent against 3.6 percent a year before