Experts from the Visual Capitalist portal have created an infographic showcasing the largest economies in the world based on gross domestic product (GDP) adjusted for purchasing power parity (PPP). Reports UNIAN. This is also reported by Kontrakty.UA.
For this, data from the International Monetary Fund was utilized, reflecting the end of 2024.
It's important to note that the adjustment for purchasing power parity allows for a correction based on the current price levels in a country's economy, thereby affecting the currency's purchasing power. GDP based on PPP takes into account the cost of living and inflation rates in different countries, while nominal GDP is merely a comparison in a common currency.
Since 2014, China has maintained its position as the world's largest economy when adjusted for PPP. The United States currently holds second place, followed by India in third. Russia, as can be seen, occupies the fourth position.
The overall top ten looks as follows:
- China - $33.1 trillion;
- USA - $29.2 trillion;
- India - $16.0 trillion;
- Russia - $6.9 trillion;
- Japan - $6.6 trillion;
- Germany - $6.0 trillion;
- Brazil - $4.7 trillion;
- Indonesia - $4.7 trillion;
- France - $4.4 trillion;
- United Kingdom - $4.3 trillion.
And although the Russian economy is facing sanctions pressure, Moscow benefits from having some of the world's largest economies among its BRICS partners, particularly China and India.
Updates on the Russian economy
Recall that earlier, Western experts concluded that Russia is on the brink of "economic suicide" due to its aggression against Ukraine.
Experts believe that a high real inflation rate and excessively high key interest rates are suppressing business activity in the Russian Federation.
Recently, The Economist stated that Ukraine could win the economic war against Russia. According to some forecasts, Ukraine's GDP growth in 2025 is expected to be 4.3%, while Russia's GDP growth will be between 0.5% and 1.5%.