Russia’s GDP dropped 4.6% in July — ministry

GDP declined 3.6% year-on-year since the beginning of 2015.

Russia’s GDP dropped 4.6% in July 2015 but was up 0.1% net of the season factor, Ministry of Economic Development said on Friday.

"According to the assessment of the Russian Ministry of Economic Development, GDP fell 4.6% year-on-year in July; GDP declined 3.6% year-on-year since the beginning of 2015," the ministry said.

The ministry made a downward revision of the GDP drop in June from 4.2 to 4.5%.

Russia’s foreign trade surplus down 34% in July

According to the ministry, Russia’s foreign trade surplus fell 34% year-on-year in July 2015 to $11.2 bln.

Export of goods in July totaled $28.2 bln and fell 39% year-on-year and 6.9% month-on-month. Import of goods amounted to $17.0 bln in July 2015, down 41.9% against July 2014 but up 2.8% vs. June 2015, the ministry said.

Russia’s retail trade turnover declined 9.2% year-on-year in July and 8.1% in seven months of 2015.

First published by TASS.

All rights reserved by Rossiyskaya Gazeta.

More exciting stories and videos on Russia Beyond's Facebook page

This website uses cookies. Click here to find out more.

Accept cookies