Support The Moscow Times!

Russia 6th Largest Economy in World GDP Rankings

Ermakov / Flickr (CC BY-NC-ND 2.0)

Russia was the world’s sixth-largest global economy in 2017, in a World Bank ranking that adjusts GDP for price differences among countries.

Russia’s economy returned to a growth rate of 1.5 percent in 2017 after two years of decline brought on by Western sanctions and a collapse in global oil prices. The goods produced by a country can be measured by gross domestic product (GDP), as well as GDP based on purchasing power parity (PPP), which takes into consideration the relative prices of goods between nations.

New figures from the World Bank show that by gross domestic product based on purchasing power parity, the Russian economy ranks below China, the United States, India, Japan and Germany.  

In total, the GDP by purchasing power parity in Russia was $3.7 trillion last year.

China ranked as the world’s largest economy by PPP last year with $23.3 trillion, followed by the United States with $19.4 trillion in total value of goods produced. India, Japan and Germany respectively logged $9.4 trillion, $5.6 trillion and $4.2 trillion in purchasing power.

In overall gross domestic product, the World Bank ranked Russia 11th, with $1.5 trillion in GDP, trailing behind Canada, Italy and Brazil. The United States and China topped the GDP rating at $19.4 trillion and $12.2 trillion each.

The Ministry of Economic Development projects overall GDP growth for Russia of 1.8 percent this year and 1.4 percent next year before accelerating to a 3 percent growth by 2022.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more