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Russian Economy Is World’s Fourth Largest, Still Growing

The resilience of the Russian economy against the effects of the western sanctions since the start of the Ukraine war, has to do with the relative strength of the economy before it began. Russia surpassed Japan and moved into 4th place in the global ranking of countries in terms of GDP at purchasing power parity (PPP), according to the results of the International Comparison Program (ICP) conducted by the World Bank. The report compares economies based on the results of 2021, Vedomosti writes, according to the TASS press review on June 3.

The ICP estimates showed that in 2021, the Russian economy accounted for 3.8% of the global PPP figure of $5.7 trillion in relative prices. The country surpassed Japan (3.7% and $5.6 trillion) and Germany (3.4% and $5.2 trillion), while India (7.2% and $11 trillion), the U.S. (15.5% and $24 trillion), and China (18.9% and $29 trillion) were ahead of Russia in 2021.

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