REUTERS
Russia's GDP declined by 3.7% in 2015, the Russian Federal Statistics Service (Rosstat) said on Tuesday, thus confirming its preliminary forecast, according to Russian news agency TASS.
The GDP in 2015 at current prices amounted to 80.41 trillion rubles ($1.01 trillion), TASS reported.
According to Rosstat, the largest increase at the end of last year was recorded in agriculture (3.5% year-over-year), the activities of households (1.4%), mining (1.1%), as well as health and human services (+ 0.3%).
The largest drop was noted in the segment of wholesale and retail trade (-10.1%), construction (-7.5%), manufacturing (-5.5%), hotels and restaurants (-5.2%). The share of final consumption expenditure in the Russia’s GDP at the end of 2015 was 71.6%, which is 0.6 percentage points less than in 2014 (72.2%). This was due to a decrease in the share of household expenditure by 0.6 percentage points - to 52.6% in GDP.
In turn, the share of net export in GDP increased by 1.4 percentage points up to 8%. In monetary terms, household expenditures totaled 43.3 trillion rubles ($548.12 billion) against 41.43 trillion rubles ($524.4 billion) last year, state administration - 15.48 trillion ($196.04 billion) against 14.61 trillion rubles ($185.02 billion).
Earlier, Economic Development Minister Alexey Ulyukayev estimated a decline in Russia's GDP at 3.9%.