1. Market Research
  2. > Retail Market Trends
Russia Country Report Nov17 - November, 2017

Russia Country Report Nov17 - November, 2017

  • November 2017
  • 98 pages
  • ID: 5179906
  • Format: PDF
  • Emerging Markets Direct Media Holdings


Table of Contents

Russian GDP grew in April-June by 2.5% y/y. According to fresh GDP figures, however, much of the growth came from a build-up in inventories, suggesting that growth is still on a rather fragile base.

Domestic demand also recovered as household consumption grew by 3% y/y and fixed investment rose by 6%. The growth in demand was, however, largely directed to imports rather than domestic production, as the volume of imports grew by over 20%. Growth in exports, which supports domestic production, slowed considerably from the first quarter. Both the Central Bank of Russia and the economy ministry estimate that GDP growth slowed to around 2% y/y in 3Q17.

The International Monetary Fund (IMF) improved Russia's GDP growth outlook to 1.8% in 2017 and 1.6% in 2018, up from 1.4% for both years previously, according to the latest World Economic Outlook published on October 10. The IMF joins a recent spate of upward revisions for Russia's economic growth and attributed it to stronger global financial stability, slower inflation, output gains, and ruble strengthening. However, the IMF remains more cautious than the Russian Ministry of Economic Development, which recently improved its forecast for growth to 2% GDP. The fund still sees risks to the outlook from oil price volatility, the ongoing capital outflow, and deepening of the sanctions against Russia's largest oil and gas companies and banks.

Inflationary expectations of Russians for the next 12 months remained at all-time low increasing only by 10bp to 9.6% in September, according to the monthly poll held by the Central Bank of Russia (CBR). Inflationary expectations are in the focus of the cautious regulator that recently has resumed the monetary easing cycle, but still wants to see expectations converge to the actual inflation it succeeded in curbing to little over 3%. Respondents mention less the significant growth of prices for public utility services, for fruit and vegetables, for gasoline, and food basket essentials such as sugar, salt, bread, chicken eggs, cereals, and noodles, according to the survey. However, the number of people who actually believe that current inflation is close to 4% remains low, with the majority of respondents "still not sure of it," which points to persisting risks of inflationary expectations keeping high, the CBR said.

On the consumption side, the recovery seemed to strengthen, with retail sales rising 3 % y-o-y in September. Retail sales growth accelerated sharply, even with meagre income development. In other words, most consumption growth was funded by credit or savings. Real wages were up less than 3 % and real incomes continued to contract slightly despite historically low inflation.

On the production side, third-quarter growth was supported by agriculture, which saw output increase by nearly 9 % y-o-y in September. The high growth partly reflects a later harvest than in 2016, but the overall harvest this year is expected to be even larger than last year's bumper yield.

The extractive sector and related transport, which led growth of the economy in the first half, lost steam in September as well as in the entire third quarter. With the decline in oil production in September, total mineral extraction remained unchanged from a year earlier. Growth in the transport sector slowed significantly as pipeline transmission volumes plateaued. Manufacturing output increased by 1 % y-o-y, but that increase was partly supported by an output spike in the highly volatile transport equipment branch.

Rosstat's revision of its earlier published growth figures meant that the outlook for the construction sector darkened considerably in September. The new numbers suggest that construction only achieved faint positive growth very recently. For the first nine months of the year, construction activity fell by 2 % y-o-y.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Hot Drinks in Croatia

  • $ 2100
  • January 2021
  • 35 pages

Overall, hot drinks experienced a major decline in 2020 due to Coronavirus (COVID-19). A key factor in the decline was the mandated closure of on-trade establishments for parts of the year. Furthermore, ...

  • Croatia
  • World
  • Retail
  • Beverage
  • Industry analysis
  • Retail Revenue
  • Tea Sales

Freezers Market Trends in China $ 3000 December 2020

Yogurt Market Trends in China $ 3000 November 2020

Fish Market Trends in China $ 3000 November 2020

Brandy Market Trends in China $ 3000 November 2020

Cucumbers Market Trends in China $ 3000 November 2020

Peaches Market Trends in China $ 3000 November 2020

Frozen Meat Market Trends in China $ 3000 November 2020


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on