Eurasian Development Bank Reports Slight Improvement in Russia's Q1 GDP Dynamics

Industrial output growth of 0.3% in Russia in the Q1 slightly improved the country’s GDP dynamics, according to a weekly review by the Eurasian Development Bank (EDB).

Russia’s GDP declined by 0.3% year-on-year in January - March 2026 after falling by 1.8% year-on-year in January - February. The dynamics improved amid industrial output growth of 0.3% year-on-year following a 0.8% contraction, the review, published on the bank’s Telegram channel, said.

Growth was driven by the extractive sector (+0.8% year-on-year), while manufacturing remained in negative territory (-0.7% year-on-year), EDB analysts noted. They expect further improvement in Russia’s GDP dynamics in the second quarter amid rising energy prices, the review said.

The EDB is an international financial institution that carries out investment activities in Eurasia to expand economic ties and promote comprehensive development among its member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. Uzbekistan joined the bank in 2025.

The bank’s headquarters is located in Alma-Ata.