Russia has overtaken Germany as the fifth largest economy in terms of purchasing power parity, according to the latest World Bank ranking that measures 214 economies based on their 2012 GDP performance.
Russia’s oil and export driven economy is ranked fifth amongst the top ten economies in the world with $3.4 trillion in GDP. In 2011, Germany surpassed Russia in GDP with $3.227 trillion compared to Russia’s $3.203 trillion. In 2005, Russia was in eighth place.
Rank Country Purchasing Power Parity 1 United States $15.6 trillion 2 China $12.4 trillion 3 India $4.8 trillion 4 Japan $4.5 trillion 5 Russia $3.4 trillion 6 Germany $3.3 trillion 7 Brazil $2.4 trillion 8 France $2.4 trillion 9 United Kingdom $2.3 trillion 10 Mexico $2.0 trillion
The report was published last week in an annual ranking of GDP. The World Bank also updated their ranking of countries in terms of gross national product (GNP) per capita, grouping Russia in the ‘high income’ nation block, with individual yearly income of $12,616 or more. Continue reading