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Home / Business /

Russia breaks into top 5 world economies,

displacing Germany
Published time: July 16, 2013 09:59
Edited time: July 17, 2013 10:22

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Reuters / Anton Golubev

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 Russias $3.203
trillion. In 2005, Russia was in eighth place.
Rank

Country

Russians: Financially inactive

or financially restricted? 13

Purchasing Power Parity

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United States

$15.6 trillion

China

$12.4 trillion

India

$4.8 trillion

Japan

$4.5 trillion

Russia

$3.4 trillion

Germany

$3.3 trillion

Brazil

$2.4 trillion

France

$2.4 trillion

United Kingdom

$2.3 trillion

10

Mexico

$2.0 trillion

http://rt.com/business/russia-gdp-5th-largest-158/

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.
The United States was ranked by the World Bank as the world's largest
economy by purchasing power parity last year with $15.7 trillion,
followed by China with $12.5 trillion, India with $4.8 trillion, and Japan
with $4.5 trillion.
Prime Minister Dmitry Medvedev publicly lauded the advance on
Monday, as did President Vladimir Putin, but warning his country still
needs to be financially vigilant.
"The World Bank has concluded that Russia has the fifth strongest
purchasing power in the world. According to this indicator, we are ahead of
the Federal Republic of Germany. But we have a lot of areas that still need
special attention," Putin said at a socio-economic meeting in the Sakhalin
region, an energy rich Far East island north of Japan where Rosneft just
put the final touches on a new drilling platform Orlan in the Sea of
Okhotsk. Sakhalin-1, a joint venture with Japan, India, and the US, has
reserves of 2.3 billion barrels of oil and 485 billion cubic meters of gas.
In June, the World Bank cut its growth forecast for Russia to less than 2.2
percent in 2013 and 3 percent in 2014, after revising January forecast the
economy would grow by 3.6 percent in and 3.9 percent in 2014. This is
the 'new normal' for lethargic global demand and momentum,
according to the report's author Andrew Burns.
The World Bank rating differs from the International Monetary Fund,
where Russia is listed as the eighth largest economy with a GDP of $2
trillion. The same matrix calculates the US GDP as the first with $15.7
trillion, China second with $8.2 trillion, Japan third with $6 trillion,

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http://rt.com/business/russia-gdp-5th-largest-158/

Germany fourth with $3.4 trillion, France fifth with $2.6 trillion, the United
Kingdom sixth with $2.4 trillion, and Brazil seventh with $2.4 trillion.
The purchasing power parity rate is determined on how many goods
and services $1.00 can buy in different countries.
Rankings were only assigned to economies with confirmed PPP GDP
estimates.

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http://rt.com/business/russia-gdp-5th-largest-158/

84 comments
Login

Jan Lackner

[quote name='Jan Lackner' time='27.06.2014 22:12']But don't worry russian people,

more than half of the austrian people want a partnership with russia, not with the
united drone states.
The mainstream press is telling lies but smart people know it.
Only 27% of Austrian think bad of Putin. More than 50% of Austrian People think
bad of their own chancellor :-)[/quote]
These where polls from serious sources.
27.06 11:13

Reply

Jan Lackner

But don't worry russian people, more than half of the austrian people want a
partnership with russia, not with the united drone states.
The mainstream press is telling lies but smart people know it.
Only 27% of Austrian think bad of Putin. More than 50% of Austrian People think
bad of their own chancellor :-)
27.06 11:12

Reply

Jan Lackner

In Austria 5% own as much as the rest of the country.

Normal workers or employees have to get a credit too, to buy an apartment or a
car.
Its the same, wherever you go in our world
27.06 11:08

Reply

Cesar Ivan Landero

Very good,,,we all that money ,,nobody shoud be poor,,,or hungry,,,,,,but we have.
Evil goverments...they care about themself only.....and while the rest
Of the world ,,,goes down........take that....and think about it.......good night????
2013.08.07 21:17

Reply

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