According to IMF, global growth in 2014 remained at the level of 2013 amounting to 3.3%. However, GDP of advanced market economies increased up to 1.8% (in 2013 to 1.3%), and GDP of emerging market economies decreased to 4.4% (in 2013 to 4.7%). The growth in world trade volumes declined from 3.4% in 2013 to 3.1% in 2014.
Macroeconomic conditions in Russia significantly worsened in 2014: GDP growth slowed to 0.6% compared with 1.3% in 2013. See World Economic Outlook (Cross Currents), January 2015 http://www.imf.org/external/pubs/ft/weo/2015/update/01/pdf/0115.pdfSuch low rates of economic growth have not been noted since 2009.
Multidirectional dynamics was marked on other significant macroeconomic indicators. According to the Federal State Statistics Service.The growth of industrial production, the factor defining electricity demand, accounted for 1.7% in 2014 versus 0.4% in 2013. Fixed capital expenditures in 2014 increased by almost 0.6% to RUB 13,527.6 bn compared to the level of 2013.
Throughout the year, there was a slowdown in consumer demand, resulting in the growth of retail sales in 2014 slowed to 2.5% compared to 3.9% Key indicators of social and economic development of Russia (according to the Ministry of Economic Development) http://economy.gov.ru/minec/activity/sections/macro/monitoring/monitoring2014in 2013. The volume of Russian export decreased by 5.8%
Dynamics of key macroeconomics indicators in five years
GDP at current prices, RUB bn
Fixed capital expenditures, RUB bn
CPI, % december-on-december
Data of the Federal State Statistics Service, World Economic Outlook (Cross Currents) by the International Monetary Fund for January 2015, monitoring of the Ministry of Economic Development of the Russian Federation (Key indicators of social and economic development of Russia, February 2015) and Appendices hereto were used when writing the content of the Annual Report
|Actual gross payroll||According to preliminary data of the Federal State Statistics Service+1,3|
|Real income||According to preliminary data in materials of the Ministry of Economic Development.–0,7|
|Goods intended for sales in domestic market (December 2014 in % to December 2013).PPI (Producer Price Index)||+2,2 п. п.|
|December 2014 in % to December 2013CPI (Consumer Price Index)||+4,9 p. p.|
|Fixed capital expenditures||+0,57|
|Agricultural production index||According to preliminary data. Production indexes across the Russian Federation with a view of ensuring comparability are calculated without data on the Republic of Crimea and the city of Sevastopol.-2,1 p. p.|
|IPI (Industrial Production Index)||Aggregated index of production by types of economic activities: Mining, Processing productions, Production and distribution of electric power, gas and water (including amendments on informal activity).+1,3 p. p.|
|GDP at current prices||According to the Federal Service of State Statistics. Data for 2014 are presented including data on the Crimean Federal district.+7.9|
|GDP at constant prices||According to the Federal Service of State Statistics. Data for 2014 are presented including data on the Crimean Federal district.+0,6|