Russian GDP down by 8.8% in January year-on-year

MOSCOW, February 24 (RIA Novosti) - Russian GDP fell 8.8% in January 2009 compared with the same period last year, the Economic Development Ministry said on its website on Tuesday.

Russian Economic Development Minister Elvira Nabiullina earlier said Russia's GDP fell by 2.4% and industrial output decreased 3.5% from December 2008.

Russian exports stood at $20.2 billion in January 2009, down 41% year-in-year.