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Russia's GDP grows 6.8% in 11M06 - economics ministry

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MOSCOW, January 11 (RIA Novosti) - Russia's gross domestic product (GDP) grew 6.8% year-on-year in January-November 2006, the economics ministry said Thursday.

GDP growth in the first eleven months of last year was in line with the ministry's projected figure of 6.8% for the whole of 2006.

In January-November 2005, Russia's GDP grew 6.2%, the ministry said on its Web site.

Industrial output expanded 4.1% year-on-year during the period, while inflation increased 8.2% against 10% in the first eleven months of 2005, the ministry said.

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

Fixed capital investment increased 12.9% in the reporting period to 3,729 billion rubles (about $140.7 billion), the ministry said.

In January-November 2005, fixed capital investment expanded 10.2%.

Russia's foreign trade totaled $419.1 billion with a surplus of $130.5 billion in January-November 2006, the ministry said.

Goods exports grew by an estimated 25.42% year-on-year in January-November 2006 to $274.8 billion, while imports were up 29.53% to $144.3 billion, the ministry said.

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