Indicators of economy in Russia
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Russia, on the other hand, reached USD 12,400 per capita, or 1.779 trillion USD for the whole country. Russia is therefore one of the world's largest economies and is currently at rank 11. If this is calculated per inhabitant, taking purchasing power parity into account, then Russia ranks 49th in the list of the richest countries.Inflation in Russia in 2021 was around 6.69%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 63.1 percent lower.
The index for perceived corruption in the public sector is 29, which is rather poor by global standards.
Back to overview: Russia
Impact of the COVID-19 pandemic
The consequences of the COVID pandemic in 2020 were considerable in Russia. Overall, gross domestic product in 2020 fell from 1.693 trillion US dollars to 1.489 trillion US dollars. With a large drop of 12.03 percent, the economy in Russia has struggled significantly more than other countries. The tourism sector alone slumped by around 71 percent. The unemployment rate rose from 4.5 to 5.6 percent. The inflation rate fell from 4.5 percent previously to 3.4 percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Russia Total | Russia per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 1.779 tn USD | 12,400.08 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 1.694 tn USD | 11,806.29 USD | 16.895 tn USD | 32,835.37 USD |
Russia ranked 24th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. Out of the 2,000 largest listed companies in the world, 23 originate from Russia. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:
Rank 49: Gazprom (St. Petersburg)
Rank 81: Rosneft (Moscow)
Rank 116: Sberbank (Moscow)
Rank 167: LukOil (Moscow)
Rank 414: Novatek (Moscow)
Rank 450: Norilsk Nickel (Moscow)
Rank 476: Surgutneftegas (Surgut)
Rank 513: VTB Bank (Moscow)
Rank 684: Transneft (Moscow)
Rank 788: Tatneft (Almetyevsk)
Development of gross domestic product in billions of USD 1988 - 2021
› Debt budget development
› Development of inflation
› Corruption in Russia
› Cost of living in a global comparison
› Development of inflation
› Corruption in Russia
› Cost of living in a global comparison
Imports and Exports 2021
Russia Total | Russia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 379.47 bn USD | 2,645.33 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 549.77 bn USD | 3,832.52 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 1994 - 2021
Exports
Imports