Fox News: How much is Russia?

Data, highlighting the weakness of Russia.

Nominal gross domestic product (GDP) of Russia is 1.64 trillion dollars, and purchasing power parity (PPP) — 4,21 trillion dollars, according to a November report “Investopedia” (Investopedia), writes Fox News (translation inosmi.ru).

In terms of GDP, the largest country in the world is located just below Canada but above South Korea. According to the same “Investopedia”, for comparison, nominal GDP and PPP in the USA make 21,44 trillion dollars.

The value of the Eurasian powers is largely determined by its geography. Russia accounts for 20% of world reserves and resources amount to 95.7% of its national wealth, according to the tourism company for the Caucasus and Central Asia “Advantour” (Advantour).

Russia owns 30% of world gas reserves (first place), produces 10% of its oil (second largest in the world) and owns 22 coal basins and 115 fields. In addition, Russia ranks first in deposits of iron, tin the second and third lead, said “Advantour”.

The volume of foreign direct investment (FDI) is 35,44 billion and public debt of Russia as of 2017 was 15.5% of GDP. Between 1998 and 2008 Russia’s economy grew by 7%, but soon fell 2.8% during the recession of 2015. According to the world book of facts CIA, Russia’s GDP began to rise again in 2017, when global demand went up again.

“Russia has undergone significant changes after the collapse of the Soviet Union, moving from a centrally planned economy to a more market — oriented system, according to the world fact book. — However, economic growth and reform in recent years has stalled, and Russia still remains mostly narinasai economy, whose wealth is largely concentrated in the hands of the officials.”

“In the course of economic reforms of the 1990s, most of the industry excluding the energy sector, transport, banking and defence have been privatized. Protection of property rights is still weak, and the government actively intervenes in the free operation of the private sector,” concludes a book of facts.