Economic Composition: In 2022, Russia's economy is dominated by the services sector, constituting 68% of the GDP. The industrial sector follows at 26%, and the agricultural sector contributes 6%.

Economic Outlook: Following a robust 4.3% economic growth in 2021, Russia's growth is expected to slow down in the coming years. The World Bank's Regular Economic Report projects growth rates of 2.4% for 2022 and 1.8% for 2023. This indicates a shift in the pace of Russia's economic expansion.

Domestic Economic Trends: Notable trends include a surge in household consumption by over 9% in the second quarter, the fastest growth in a decade. The labor market also improved, with unemployment reaching a four-year low and real wages increasing. Russia's strong current account surplus is influenced by higher commodity prices and reduced outbound tourism.