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Thu, 05/11/2023 - 19:56

Russia Returns to Top-10 World's Largest Economies First Since 2014

MOSCOW (Sputnik) - Russia has returned to the top ten largest economies and ranked the eighth for the first time since 2014 by producing $2.3 trillion worth of goods and services in 2022, data from the World Bank and statistical services analyzed by Sputnik showed on Sunday.
In 2014, Russia ranked the ninth in the list of the world's major economies by manufacturing $2.05 trillion worth of goods and services, while in 2021 the country was in the 11th place, the data said.
The data showed that the US's economy topped the rating in 2022 with its nominal gross domestic product (GDP) estimated at $25.5 trillion, while China ranked the second ($17.9 trillion), followed by Japan ($4.2 trillion), Germany ($4.07 trillion), and India ($3.4 trillion).
In addition, the UK's economy remained the sixth ($3.07 trillion) in the list and France ranked the seventh ($2.8 trillion), according to the statistics.
The 2022 GDP rating of countries was based on the latest annual or quarterly data provided by the national statistical services in state currencies and recalculated in dollar terms, if necessary, at the average exchange rate for the corresponding period. The World Bank's data has been used for the period of 2021.