MOSCOW, February 26 (RIA Novosti) - Russia's gross domestic product grew by an estimated 6.8%, year-on-year, in 2006, Russia's economics ministry said Monday.

Earlier, Russia's national statistics body said the country's GDP grew by an estimated 6.7%, year-on-year, to 26.621 trillion rubles ($1.002 trillion).

The economics ministry projects GDP growth at 6.2% and inflation at 6.5-8% in 2007.

Russia's foreign trade totaled $468.4 billion, with a surplus of $140.6 billion in 2006, the ministry said.

Goods exports grew by an estimated 25%, year-on-year, in 2006 to $304.5 billion, while imports were up 30.8%, to $163.9 billion, the ministry said.

Russia's economic growth in 2006 was driven by housing construction and trade. The construction sector expanded 18% in the second half of the year, the ministry said.

Fixed capital investment grew 13.5%, year-on-year, in 2006, the ministry said.

Electricity generation and electricity, gas and water production and distribution registered high growth rates in 2006 due to severe colds at the start of the year, measuring 4.2% against 1.2% in 2005, the ministry said.