Russia’s GDP grew 7.3 percent from January to September 2008 compared to the same period last year, reaching RUB 30,759.8 billion (approx. $1.1 trillion), the Federal State Statistics Service has reported.
In the third quarter of 2008, the GDP grew 6.2 percent against the previous year, down from an 11 percent growth in the second quarter. The GDP deflator index in the third quarter of 2008 stood at 124.3 percent compared to the corresponding period in 2007.
The construction sector showed the highest growth in real terms, at 17.2 percent. Retail and wholesale trade grew 10.6 percent, the hotel and restaurant sector gained 9.8 percent, transport and communications added 8.5 percent, and financial operations jumped 9.1 percent, followed by real estate operations, leasing and services, which saw a growth of 9 percent.
In the manufacturing sector, the GDP increased 6 percent from January to September, down from 7.5 percent in the same period last year. The agricultural industry reported a 5.2 percent growth, against 2.6 percent in January-September 2007. The mining industry had zero growth - a slightly better result compared to the 0.6 percent decline in the same period of 2007.