Investment in fixed capital by Russian regions: statistics and charts
· Investments in non-financial assets
Investment in fixed capital in Russia in 2025 totalled 42.64 trillion roubles. In 2000 it was 1.17 trillion, meaning that over 25 years growth reached 36.6 times in nominal terms. Rosstat data by constituent entities of the Russian Federation.
Below is a year-by-year series, a full regional table and an analysis of why a quarter of all investment in the country is concentrated in a single city.
Investment in fixed capital by year
| Year | Trln RUB | Year | Trln RUB |
|---|---|---|---|
| 2000 | 1.17 | 2018 | 17.78 |
| 2005 | 3.61 | 2019 | 19.33 |
| 2010 | 9.15 | 2020 | 20.39 |
| 2014 | 13.90 | 2021 | 23.24 |
| 2015 | 13.90 | 2022 | 28.41 |
| 2016 | 14.75 | 2023 | 34.04 |
| 2017 | 16.03 | 2024 | 39.92 |
| 2025 | 42.64 |
A series for all 85 constituent entities is available on the interactive investment chart.
Note the year 2015: 13 897 billion roubles versus 13 903 billion in 2014, i.e. a nominal zero amid 12.9% inflation. This was the deepest investment pause in the entire series. The next slowdown occurs in 2025: a 6.8% increase on the previous year compared with 39.92 trillion in 2024, whereas in 2023 growth was 19.8% and in 2022 it was 22.3%.
Investment by region: table
Largest recipients of investment in 2025, billion rubles.
| Region | 2025, billion rubles |
|---|---|
| Moscow | 9,126 |
| Tyumen Oblast | 3,469 |
| Moscow Oblast | 2,106 |
| Saint Petersburg | 1,735 |
| Republic of Tatarstan | 1,671 |
| Leningrad Oblast | 1,593 |
| Krasnoyarsk Krai | 1,413 |
| Amur Oblast | 1,022 |
| Krasnodar Krai | 1,011 |
| Irkutsk Oblast | 939 |
| Sverdlovsk Oblast | 919 |
| Republic of Bashkortostan | 853 |
At the other end of the list, the amounts differ by two orders of magnitude.
| Region | 2025, billion rubles |
|---|---|
| Republic of Kalmykia | 24 |
| Republic of Ingushetia | 25 |
| Republic of Tuva | 31 |
| Karachay-Cherkess Republic | 40 |
| Kostroma Oblast | 42 |
| Republic of North Ossetia – Alania | 47 |
The gap between Moscow and Kalmykia is almost 380-fold. The difference in population between these regions is roughly fiftyfold, meaning that even per capita investment in the capital is an order of magnitude higher.
Why a quarter of investments are concentrated in Moscow
Moscow’s share of all investments in the country was 21.4% in 2025. In 2000 it was 13.4%, in 2010 it was 8.0%. The concentration is growing, and there are several explanations for this.
The first explanation is purely accounting. Investments are recorded at the place of registration of the organisation, not where the physical construction of the facility takes place. The headquarters of major companies are located in Moscow, which means that the investments of major corporations largely fall into the Moscow column.
The second explanation is real. Moscow really does build a lot: metro, roads, housing, transport hubs. The dynamics for the city look like this: 156 billion roubles in 2000, 733 billion in 2010, 3,839 billion in 2020, and 9,126 billion in 2025. Over fifteen years, growth of 12.5 times.
Tyumen Oblast is in second place (3,469 billion), and it is the only major region where 2025 was lower than 2024: 3,818 billion the previous year. This figure includes the Khanty-Mansi Autonomous Okrug and the Yamal-Nenets Autonomous Okrug, i.e. the country’s main oil and gas production, and a decline there indicates a pause in new projects.
The Amur Region is a separate story with its 1,022 billion roubles. One of the country’s least populated regions receives more investment than Sverdlovsk Oblast with its industry and million-plus population centre. This is how the effect of large one-off construction projects appears in the statistics.
The dynamics for any region can be viewed on the chart and compared with other regions.
Frequently Asked Questions
How much investment in fixed capital is there in Russia in 2025?
42.64 trillion roubles according to Rosstat, 6.8% more than in 2024 (39.92 trillion).
What is included in investment in fixed capital?
Expenditures on the construction of buildings and structures, the purchase of machinery, equipment and vehicles, as well as on intellectual property objects. The purchase of shares, deposits and other financial assets is not included here; this is a separate statistic.
Which region receives the most investment?
Moscow: 9,126 billion roubles in 2025, 21.4% of all country investments. In second place is Tyumen Oblast with 3,469 billion.
Why are investments counted by the company’s place of registration?
This is how reporting is structured: an organisation submits a form based on its legal address. Because of this, regions with headquarters of major corporations appear stronger in statistics than they actually are in terms of the actual location of facilities.
Are investments growing or falling?
In nominal roubles, they have been growing every year since 2000, except for 2015, when there was zero growth. Adjusted for prices, the picture is different: there was a real decline in 2015–2016, and the slowdown in 2025 (plus 6.8% with inflation at 5.6%) means growth has almost stopped.
Where can I view investment by industry?
In a separate Rosstat dataset by type of economic activity: there is a breakdown from mineral extraction to software development, covering 2014 to 2025.
In brief
Investment in fixed capital in Russia grew from 1.17 trillion roubles in 2000 to 42.64 trillion in 2025. Growth almost stopped in 2015 and slowed significantly in 2025. Concentration in Moscow increased from 8.0% in 2010 to 21.4% in 2025, partly due to accounting by company registration location. The gap between the largest and smallest regions reaches 380 times.
All series are taken from Rosstat’s open publications and are updated on the website as new data are released.
See also
- Retail trade turnover by regions
- Inflation in Russia by year, what to use for deflating the investment series