Russia entered the top five economies in the world in terms of purchasing power parity
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The World Bank published world GDP data for 2022 at purchasing power parity. Russia ($5.33 trillion) ranked fifth. China ($30.3 trillion), the US ($25.5 trillion), India ($11.8 trillion) and Japan ($5.7 trillion) retained the top four spots.
Purchasing power parity determines how much national currency of different countries is needed to buy a certain consumer basket. It is calculated in US dollars.
According to World Bank analysts, by 2030 the countries of the five represented will maintain the status quo. At the same time, Russia will come close to Japan, and India to the United States. In particular, Russia’s GDP by this time may reach $5.9 trillion (an expected growth of 7.9%).
In terms of GDP in nominal terms, at the end of 2022, Russia ranked 8th in the ranking, behind the United States, China, Japan, Germany, India, Great Britain and France. The United States occupies the first place in the world in terms of GDP in nominal terms.
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