Source: world bank Nominal/PPP
Summary:
Russia GDP Per Capita expanded from 1988 to 2024, increasing from $554.83 to $2,173.84 .The compound annual growth rate (CAGR) averaged 3.87% over the period. The economy recorded its peak level in 2013 and its lowest level in 1999. Growth volatility remained high. The maximum drawdown reached 64.69%, indicating the largest cyclical decline from peak levels. The country experienced 8 recession episode(s) during the observed period.
Russia Economic Phases (1988 - 2024)
From 1988 to 2024, Russia economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- Expansion (1990–1991) indicating steady moderate growth
- Contraction (1993–1994) indicating temporary slowdown
- Crisis (1998–1999) indicating severe economic downturn
- High Growth (2000–2008) indicating robust economic expansion
- High Growth (2010–2012) indicating robust economic expansion
- Crisis (2014–2015) indicating severe economic downturn
- High Growth (2017–2018) indicating robust economic expansion
- High Growth (2021–2022) indicating robust economic expansion
- Expansion (2024–2024) indicating steady moderate growth
The most remarkable growth occurred in 2004 with an increase of 37.335%, while the largest decline was in 2015 at -33.787%.