Dynamics and structure of GDP and investments in Russia in 2022

The 2022 economic dynamic was characterized by extreme volatility. The situation was shaped by the continuing trends, on the one hand, of economic recovery after the coronavirus pandemic and, on the other hand, the creation of new mechanisms to support, adapt and reduce the impact of sanctions restrictions in relation to the real and financial sectors of the domestic economy throughout the year. The profiles of the economic development in early 2022 were defined by continuation of the imbalance of the growing demand and limited changes in the supply at high differentiation of the growth rates by types of economic activities and segments of the internal and external markets; intensification of the inflationary pressure on incomes and consumer behavior of the population; structural transformation of prices and production costs.3 The starting position for 2022 was driven by the output growth by the basic types of economic activities by 5.9% according to the results of 2021, the final demand of the households increasing by 10.0% and the investment demand — by 7.6%. Domestic demand was propped up by raising the scale of foreign trade turnover: the increase in the contribution of net exports in 2021 came to 9.3% of GDP, including exports - 30.2% and imports — 20.9% (by the SNA methodology in current prices).