The Macrostructure of Production in Russia in 2017

The economic situation in 2017 was characterized by a gradual recovery of positive dynamics. GDP in 2017 constituted RUB 92.08 trillion up 1.5 percent compared to the previous year. First signed of business revival were observed in H2 2016 driven by price growth on hydrocarbons and strengthening of the ruble affected the dynamic and structure of the external trade turnover and domestic production. However, instability of factors both stimulating and curbing economic development provoked changes of quarter-by-quarter GDP dynamics. Year-on-year and quarter-on-quarter dynamics of macroeconomic indicators for 2016–2017 demonstrate gradual relaxation of the recession depth with regards to all major macroeconomic parameters brought about by a notable drop in the rate of inflation, changes in the structure of production costs resulting from the ruble's depreciation, and renewal of the external trade turnover growth. The share of net exports in GDP in current prices in H1 2017 rose to 6.6 percent, and at the year-end constituted 5.5 percent up 0.2 percentage point against last year