Tuesday, December 10, 2019
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Russia's GDP
The Federal State Statistics Service (Rosstat) has adjusted GDP data for 2002 and 2003. According to Rosstat, the adjusted annual indicators of these years will be published in April. In 2003, Russia's GDP amounted, in the current market prices, to 13,201,100 million roubles ($1 = 27.75 rubles), and its real growth rate on 2002 was 107.3%. The GDP deflator index (the ratio of GDP calculated in current prices and GDP calculated in comparable prices of the previous year) for 2003 was 113.7% in relation to 2002 prices. The 2002 GDP amounted, in current market prices, to 10,817,500 million roubles, while its real growth rate on 2001 was 104.7%, and the deflator index, 115.5%. The annual indicators had to be adjusted for a number of reasons. In particular, this was the updating of the original statistics, the updating statistical parameters of the performance of economic entities received from regional state statistics bodies for 2002 and 2003. Besides, the updating of GDP information followed the Finance Ministry's report on the execution of the consolidated state budget in terms of functional articles on economic classification for 2003, and a review of the balance of payments for 2003 by the Bank of Russia.
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