2009

Russian GDP apparently bottomed out in the summer and turn up in the latter half of 2009, driven by modest growth in consumption and export demand. Exports will be supported by a moderate recovery in the world economy, and consumption demand will get a boost from higher oil prices. Investment is not expected to pick up until next year. The modest growth in GDP will also promote a modest recovery in imports. For 2009 as a whole, both total output and imports are expected to decrease substantially, due to the weak performance in early part of the year, but to turn up in 2010–2011.