Russia Returns to List of 10 Biggest Economies for 1st Time since 2014

Data from the World Bank and Russian statistical services showed that for the first time since 2014, Russia has returned to the list of the ten largest economies in the world, according to Russia Today.

At the end of 2022, Russia produced goods and services worth $2.3 trillion, which allowed it to occupy eighth place on this list.

It is noteworthy that Russia entered the top ten for the last time in 2014, and at that time occupied the ninth position with a GDP of $ 2.05 trillion. 

In 2021, Russia ranked 11th.

According to the data, the United States remained the largest economy in the world last year, with a nominal GDP of $25.46 trillion.

In second place came China ($17.94 trillion), and Japan traditionally closed the top three positions ($4.17 trillion).

 Germany remained in fourth place (4.07 trillion), India occupied fifth place (3.4 trillion), Britain retained sixth place (3.07 trillion), and France remained seventh (2.78 trillion). Canada ranked ninth ($2.14 trillion), while Italy ($2.01 trillion) fell from eighth to tenth.

South Korea dropped out of the top 10, ranking 13th.

Rankings of countries by GDP were calculated on the basis of the most recent annual or quarterly data provided by national statistical offices in national currencies, and when necessary recalculated in dollars at the average exchange rate for the corresponding period.