MOSCOW: The Russian Gross Domestic Product (GDP) stood at 3.6% in 2023, according to the second estimate of the Federal State Statistical Service (Rosstat).
The GDP in current prices amounted to 172.148 trillion rubles ($1.88 trillion). The GDP deflator index gained 7% against the last year, TASS reported, quoting the Rostat.
According to Rosstat, GDP growth in 2023 was driven by the increase in indices of the physical volume of the added value in processing sectors (+6.9%), construction (+6.6%), wholesale and retail trade (+6.6%), transportation and storage (+3.2%), and in the hotel and restaurant sphere (+10%).
The increase of the domestic final demand by 8.9% against net exports contraction also influenced growth of the GDP physical volume.
The GDP growth in 2023 was observed from the second quarter of the last year, associated with a notable increase in the consumer demand of households against the relevant period of the last year.
Source: Emirates News Agency