Russia bursts into top five strongest economies, replacing Germany

[webfact]

Russia bursts into top five strongest economies, replacing Germany

MOSCOW: -- Russia displaces Germany as the fifth largest economy in terms of purchasing power parity, according to the latest World Bank ranking that evaluates 214 economies based on their 2012 GDP performance.

The purchasing power parity is an indicator adjusting so that an identical good in two different countries has the same price when expressed in the same currency.

Russia's resources-driven economy is ranked fifth among the top ten economies in the world with $3.4 trillion in GDP. In 2011, Germany overtook Russia in GDP with $3.227 trillion compared to Russia’s $3.203 trillion.

The rankings were issued by the World Bank last week. The financial institution also renewed the gross national product (GNP) per capita ranking in which Russia belongs to the ‘high income’ nation block, with an individual yearly income of $12,616 or more.

Full story: http://english.ruvr.ru/news/2013_07_17/Russia-bursts-into-top-five-strongest-economies-replacing-Germany-8099/

-- THE VOICE OF RUSSIA 2013-07-17

[nachiket]

Sounds great.

It's in BRICS country.

First four are US, China, India and Japan followed by Russia, Germany, Brazil, UK, France and Italy.

[jamhar]

Countries with the largest population have an edge in the GDP race. Thats a given.

So China, India, US, Indonesia, and Brazil leads the list of population.

(Indonesia and Brazi? , didnt see that coming)

I found the GDP/capita an interesting list.

For Russia to over take Japan in Total GDP

It will have to increase it GDP/capita by nearly 50%

Even with all of its natural resources, that will take a while.

(Russia, has a similar population as Japan? didnt see that coming either!)

Note

Oz, Canada and Ireland all have a higher GDP/capita than Germany.

Nice going guys!

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita

[jackr]

Does that mean more Russians will be visiting?

[NeverSure]

Natural resources will do wonders for a country. Russia is huge and among other things they have found a lot of oil.

Look at small Middle East countries which have virtually no economy other than oil.

But brilliance in innovation, engineering and manufacturing such as Germany and Japan will also do it.

China and India have nothing except a lot of land and huge populations. They provide cheap labor to pick up the scraps by manufacturing what others invented.

Just like lost oil countries in the Middle East, Russia will go nowhere except that the powerful will get rich from the oil.

[F430murci]

Natural resources will do wonders for a country. Russia is huge and among other things they have found a lot of oil.

Look at small Middle East countries which have virtually no economy other than oil.

But brilliance in innovation, engineering and manufacturing such as Germany and Japan will also do it.

China and India have nothing except a lot of land and huge populations. They provide cheap labor to pick up the scraps by manufacturing what others invented.

Just like lost oil countries in the Middle East, Russia will go nowhere except that the powerful will get rich from the oil.

Haha, Russia has a lot of natural resources, but they also have a lot of vodka . . . and smoking hot women. I saw ratios of about 5 or 10 to 1 at most clubs and bars we went to last month.

Anyway, too much drinking, and unfortunately drug use, among the males to have a strong GDP per capita. Different priorities over there for a lot of people. They most lucrative operations over there seems to be the mafia. They have their hands in everything so that probably does not count much to GDP.

[jpduggan]

Why did it BURST IN, why didn't it just become one? Maybe the writer has noticed how Russian tourists burst into shops and restaurants and think that everyone the street should get out of their way....Russianness.