Decline of Russia’s GDP is 8% yoy in 2Q, 3.4% yoy in 1H 2020 - statistics service
The decline in Russia's GDP, according to the first estimate, totaled 8% year-on-year in the second quarter of 2020 and 3.4% year-on-year in the first half of the year , the Federal Statistics Service (Rosstat) reported on Wednesday.
Rosstat preliminary estimated the decline in Russia's GDP in the second quarter at 8.5%, in the first half of the year - at 3.6%.
Under the current prices, the volume of GDP is estimated at 48.606 trillion rubles ($644 bln) in the first half of 2020.
Rosstat explained that the index of the physical volume of GDP was revised in comparison with the preliminary estimate due to revisions of the statistical reporting submitted by enterprises, as well as additional information from the Bank of Russia.
In the second quarter, amid the spread of coronavirus infection, the biggest drop in added value was marked in services, in particular in such sectors as hotels and restaurants (-56.9%), culture and sports (-28.0%), in transport (-19.3%), trade (-12.7%).
Also a significant drop was observed in the extractive industry (-12.8%) and manufacturing (-7.9%).
Source
Rosstat preliminary estimated the decline in Russia's GDP in the second quarter at 8.5%, in the first half of the year - at 3.6%.
Under the current prices, the volume of GDP is estimated at 48.606 trillion rubles ($644 bln) in the first half of 2020.
Rosstat explained that the index of the physical volume of GDP was revised in comparison with the preliminary estimate due to revisions of the statistical reporting submitted by enterprises, as well as additional information from the Bank of Russia.
In the second quarter, amid the spread of coronavirus infection, the biggest drop in added value was marked in services, in particular in such sectors as hotels and restaurants (-56.9%), culture and sports (-28.0%), in transport (-19.3%), trade (-12.7%).
Also a significant drop was observed in the extractive industry (-12.8%) and manufacturing (-7.9%).
Source