Russia's Statistical Office announced on the 20th that the growth rate of GDP = Gross Domestic Product last year was 2.1% less than the previous year.
It was the first negative growth in two years due to the impact of sanctions by the United States, Europe, and others over the military invasion of Ukraine.
According to the Russian state-owned TASS news agency, among these, the wholesale and retail industries are down 12.7%, and the manufacturing industry is down 2.4%, pointing out the impact of economic sanctions in Europe and the United States.
On the other hand, agriculture, forestry and fisheries increased by 6.6%, and construction increased by 5%.
Some experts initially believed that the GDP growth rate would be negative in the double digits, but the soaring prices of resources and energy, which are the pillars of exports, pushed up the value of exports. The negative range has become smaller than originally expected.
As the United States, Europe, and other countries impose additional sanctions against Russia, which continues to invade Ukraine, such as setting a ceiling on the price of Russian crude oil, the focus will be on the impact on the Russian economy going forward. .