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Structure of Economic Growth: External Demand in Q1 2021

Nadezhda P. Volovik – Head of Foreign Trade Department of the Gaidar Institute for Economic Policy; Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Olga I. Izryadnova – Head of Structural Policy Department of the Gaidar Institute for Economic Policy; Leading Researcher of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

A feature of the recovery of the Russian economy in Q1 2021 was the outstripping dynamic of the growth of foreign trade turnover and investment in fixed assets relative to the dynamic of GDP. Against the background of high turbulence of the commodity market, the outpacing growth of non-primary non-energy exports and high-tech products reflects the adaptation of the Russian economy to the changing situation on the world market when implementing systemic measures of state support.

Key words: GDP, economy, economic growth, foreign trade turnover, investment in fixed assets, coronavirus infection.

JEL-codes: D51, E20, F10, F40.