Trade Resources Economy Russian GDP Contracted by 0.5% in November and It Is The First Economy Contract Since 2009

Russian GDP Contracted by 0.5% in November and It Is The First Economy Contract Since 2009

Russian GDP contracted by 0.5% in November and it is the first economy contract since 2009.

According the data from Russian Economic Development Ministry, Russian GDP falls 0.5% in November and increases by 0.6% in the past 11 months.

Russia's economy, heavily reliant on energy exports, has been hit by the oil price slump and Western sanctions.Russia blocked most imported Western food in retaliation for the measures.

Russian's trade surplus in November is $14.4 billion, down 15.4%. Export value was $37.6 billion, down 19.7%. Import value was $23.2 billion, down 22.1%.

The Russian government expects a 0.8% decline in GDP next year, compared with 0.6% GDP growth in 2014 as a whole.

Source: Made-in-China.com
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Russian GDP Falls 0.5% in November
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