Russia rises to 4th globally in GDP by purchasing power parity, driven by agriculture and chemicals
TASS
Russia’s GDP in PPP terms has climbed to fourth place globally, behind China, the US, and India, according to expert Anton Sviridenko. The advance is driven by strong performance in agriculture, chemicals, and manufacturing in a successful post-sanctions environment.
According to expert Anton Sviridenko, Director of the Stolypin Institute for Economic Growth, Russia’s GDP in PPP terms is now fourth in the world, after China, the United States, and India. This rise stems from robust expansion in agriculture, chemicals, and manufacturing sectors during a successful post-sanctions period.
Speaking to TASS on May 2, Sviridenko cited PPP GDP data showing the ranking: China, the United States, India, Russia, and Japan. He emphasized that China leads the world in material production across sectors such as steel, energy, electronics, automobiles, and machinery, while supplying cheap goods for global consumption. India is the largest domestic consumer market.
For Russia, beyond its traditional energy sector, agriculture and the chemical industry have become new pillars of the economy, while the manufacturing sector overall saw positive growth in 2023-2024.
However, Sviridenko noted that in terms of GDP per capita, all BRICS countries still need further growth. To achieve this, he said, a “new platform for international cooperation” is needed to ensure independent cross-border capital flows, common funds, and stable logistics unaffected by sanctions.
Earlier, Russian Deputy Chief of Staff Maxim Oreshkin said at the Open Dialogue forum that G7 countries are losing ground while BRICS economies are “strongly dominating” the global economic picture.
