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Russia's economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Russia ranked 11/197 by economy size with a GDP of $2.17T and 69/197 by GDP per capita at $15,145. Russia has $441B in government debt, with a debt-to-GDP ratio of 21.4%.

In 2025, Russia made up 1.95% of the world's economy, compared to 2.84% in 1988.

The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.

GDP, current $
GDP, constant 2015 $
GDP growth
Year GDP GDP growth
Current $ Constant $
1988 $554,828,660,436 - -
1989 $506,631,299,735 $1,197,410,924,008 -8.69%
1990 $517,014,446,228 $1,161,488,648,466 2.05%
1991 $517,962,962,963 $1,102,869,019,643 0.18%
1992 $460,290,556,901 $942,610,308,780 -11.1%
1993 $435,083,713,851 $860,899,753,889 -5.48%
1994 $395,077,301,248 $752,686,755,591 -9.2%
1995 $395,537,185,735 $721,498,966,071 0.12%
1996 $391,724,890,744 $694,406,178,898 -0.96%
1997 $404,928,954,192 $704,127,280,749 3.37%
1998 $270,955,486,862 $666,808,805,067 -33.1%
1999 $195,907,128,351 $709,483,999,746 -27.7%
2000 $259,710,142,197 $780,432,873,753 32.6%
2001 $306,602,070,621 $820,235,350,097 18.1%
2002 $345,470,494,418 $858,786,345,187 12.7%
2003 $430,347,420,185 $921,477,339,134 24.6%
2004 $591,016,690,732 $987,823,227,181 37.3%
2005 $764,015,973,481 $1,051,043,572,408 29.3%
2006 $989,932,071,353 $1,137,229,862,730 29.6%
2007 $1,299,703,478,482 $1,233,894,148,247 31.3%
2008 $1,660,848,058,303 $1,298,056,264,706 27.8%
2009 $1,222,645,900,056 $1,196,807,955,076 -26.4%
2010 $1,524,916,715,224 $1,250,664,313,045 24.7%
2011 $2,045,922,753,398 $1,304,443,243,520 34.2%
2012 $2,208,293,553,878 $1,356,935,163,515 7.94%
2013 $2,292,470,078,346 $1,380,755,103,919 3.81%
2014 $2,059,241,589,895 $1,390,921,151,162 -10.2%
2015 $1,363,482,182,198 $1,363,482,182,198 -33.8%
2016 $1,276,786,350,881 $1,366,123,111,808 -6.36%
2017 $1,574,199,360,089 $1,391,065,651,846 23.3%
2018 $1,657,328,773,461 $1,430,116,278,515 5.28%
2019 $1,693,115,002,708 $1,461,551,317,106 2.16%
2020 $1,493,075,894,362 $1,422,766,794,795 -11.8%
2021 $1,829,186,719,575 $1,506,233,291,760 22.5%
2022 $2,291,612,121,335 $1,484,605,556,958 25.3%
2023 $2,071,505,725,031 $1,545,214,947,189 -9.6%
2024 $2,173,835,806,672 $1,612,344,875,264 4.94%

Economic Statistics of Russia

Russia Rank
Gross domestic product
$2.17T
2024
11/197
GDP growth
4.94%
2023-2024
111/196
GDP per capita
$15,145
2024
69/197
GDP per capita, PPP
$47,405
2024
49/197
Government debt
$441B
2024
21/185
Debt-to-GDP ratio
21.4%
2025
173/185
Government debt per person
$3,075
2024
98/185
Average annual personal income after taxes
$9,262
2025
78/197
Listed domestic companies
194
2023
34/103
Market capitalization of domestic companies
$650B
2023
19/100
Number of millionaires
381,726
2024
18/34
Millionaire frequency
1 in 290
2024
26/34
Number of billionaires
140
2025
5/78
Billionaire frequency
1 in 791,862
2025
27/78
Income share by richest 10%
25.1%
2023
115/169
Income share by poorest 10%
3.1%
2023
54/169
Government expenditure, % of GDP
37.6%
2025
63/195
Consumer prices inflation
9%
2024-2025
34/195
Central bank interest rate
17%
2025
14/105
Unemployment rate
2.43%
2024
166/196
Population
142718132
9/197

Russia's GDP per capita

Russia has a GDP per capita of $15,145, ranking 69/197, a GDP per capita based on purchasing power parity (PPP) of $47,405, ranking 49/197, and a median annual after tax income of $9,262, ranking 78/197.

GDP per capita
GDP per capita, PPP
Year Current $
GDP per capita GDP per capita, PPP
1988 $3,778 -
1989 $3,430 -
1990 $3,494 $8,028
1991 $3,490 $7,858
1992 $3,099 $6,862
1993 $2,931 $6,420
1994 $2,662 $5,734
1995 $2,666 $5,613
1996 $2,644 $5,518
1997 $2,738 $5,700
1998 $1,835 $5,465
1999 $1,331 $5,914
2000 $1,772 $6,825
2001 $2,100 $7,361
2002 $2,378 $8,037
2003 $2,975 $9,255
2004 $4,102 $10,227
2005 $5,323 $11,822
2006 $6,920 $14,912
2007 $9,101 $16,648
2008 $11,635 $20,164
2009 $8,563 $19,390
2010 $10,675 $20,490
2011 $14,305 $22,790
2012 $15,402 $24,274
2013 $15,941 $26,020
2014 $14,277 $25,688
2015 $9,427 $23,994
2016 $8,804 $24,012
2017 $10,835 $25,778
2018 $11,399 $28,629
2019 $11,640 $30,964
2020 $10,280 $31,491
2021 $12,637 $38,638
2022 $15,888 $40,939
2023 $14,403 $44,269
2024 $15,145 $47,405

Russia's government spending, deficit, and chart

This chart shows Russia's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, Russia recorded a fiscal deficit in 14 years — average annual surplus equal to +0.14% of GDP. In 2024, government spending reached $831B (37.6% of GDP), with a deficit of -1.01%.

The national debt reached $441B, ranking 21st out of 185 countries by total size, with a debt-to-GDP ratio of 21.4%, ranking 173rd.

Government spending
Government debt
Deficit/surplus
Year % of GDP
Government spending Government debt Government deficit/surplus
1885 13.1% 80.7% -0.75%
1886 14.2% 87.1% -0.84%
1887 11.5% 78.5% 0.14%
1888 11% 73.2% 0.88%
1889 12.6% 77.8% 1.34%
1890 14.2% 75% 0.01%
1891 15.1% 80.6% -0.97%
1892 14.5% 75.7% -1.16%
1893 12.6% 74.2% 0.63%
1894 13.1% 78.2% 1.43%
1895 15.6% 85.6% 0.7%
1896 15% 78.9% 1.3%
1897 15.2% 69.1% 0.34%
1898 15.4% 59.8% 0.03%
1899 14.3% 55.8% 0.66%
1900 15.9% 56.7% -0.36%
1901 15.7% 56.5% 0.14%
1902 16.6% 52.4% -1.57%
1903 17.1% 55.5% 1.04%
1904 20.4% 53.3% -5.13%
1905 23.8% 62.2% -7.72%
1906 21.2% 68% -3.19%
1907 18.3% 64.8% -0.86%
1908 17% 58.8% -0.83%
1909 15.9% 56% -0.15%
1910 14.8% 52.5% 1.52%
1911 16.2% 52.8% 1.26%
1912 15.2% 45.2% 0.69%
1913 - 48.8% 0.69%
1914 - - 0.69%
1915 - - 0.69%
1916 - - 0.69%
1917 - - 0.69%
1918 - - 0.69%
1919 - - 0.69%
1920 - - 0.69%
1921 - - 0.69%
1922 - - 0.69%
1923 - - 0.69%
1924 - - 0.69%
1925 - - 0.69%
1926 - - 0.69%
1927 - - 0.69%
1928 5.71% - -0.4%
1929 7.75% - -0.4%
1930 12.7% - -1.62%
1931 8.54% - -1.12%
1932 6.22% - 0.06%
1933 4.63% - 0.58%
1934 4.84% - 0.25%
1935 4.47% - 0.07%
1936 4.31% - 0.1%
1937 4.42% - 0.12%
1938 5.74% - 0.16%
1939 6.54% - 0.12%
1940 5.49% - 0.15%
1941 - - 0.15%
1942 - - 0.15%
1943 - - 0.15%
1944 - - 0.15%
1945 - - 0.15%
1946 - - 0.15%
1947 - - 0.15%
1948 - - 0.15%
1949 - - 0.15%
1950 - - 0.15%
1951 - - 0.15%
1952 - - 0.15%
1953 - - 0.15%
1954 - - 0.15%
1955 - - 0.15%
1956 - - 0.15%
1957 - - 0.15%
1958 - - 0.15%
1959 - - 0.15%
1960 - - 0.15%
1961 - - 0.15%
1962 - - 0.15%
1963 - - 0.15%
1964 - - 0.15%
1965 - - 0.15%
1966 - - 0.15%
1967 - - 0.15%
1968 - - 0.15%
1969 - - 0.15%
1970 - - 0.15%
1971 - - 0.15%
1972 - - 0.15%
1973 - - 0.15%
1974 - - 0.15%
1975 - - 0.15%
1976 - - 0.15%
1977 - - 0.15%
1978 - - 0.15%
1979 - - 0.15%
1980 - - 0.15%
1981 - - 0.15%
1982 - - 0.15%
1983 - - 0.15%
1984 - - 0.15%
1985 - - 0.15%
1986 - - 0.15%
1987 - - 0.15%
1988 - - 0.15%
1989 - - 0.15%
1990 - - 0.15%
1991 - - 0.15%
1992 - 116% 0.15%
1993 - 92.4% 0.15%
1994 - 63.5% 0.15%
1995 - 53.7% 0.15%
1996 - 51.9% 0.15%
1997 - 51.5% 0.15%
1998 39.7% 135.2% -7.42%
1999 34.3% 92.4% -3.59%
2000 30.7% 55.9% 3.11%
2001 31.5% 44.4% 2.99%
2002 33.8% 37.6% 0.67%
2003 32.6% 28.3% 1.35%
2004 29.6% 20.8% 4.57%
2005 29.5% 14.9% 7.6%
2006 29% 9.8% 7.8%
2007 31.9% 8.03% 5.59%
2008 32% 7.45% 4.55%
2009 38.6% 9.92% -5.89%
2010 35.5% 10.1% -3.19%
2011 33.3% 10.3% 1.43%
2012 34% 11.2% 0.38%
2013 34.7% 12.3% -1.16%
2014 34.9% 15.1% -1.07%
2015 35.3% 15.3% -3.39%
2016 36.6% 14.8% -3.67%
2017 34.8% 14.3% -1.47%
2018 32.6% 13.6% 2.92%
2019 33.8% 13.7% 1.93%
2020 39.2% 19.2% -3.99%
2021 34.9% 16.5% 0.78%
2022 35.4% 18.5% -1.56%
2023 36.1% 19.5% -2.51%
2024 38.2% 20.3% -2.25%
2025 37.6% 21.4% -1.01%

Inflation rate by year

Over the past 20 years, Russia has had an average annual inflation rate of 8%. In 2025, inflation was 9%. The bar chart below shows consumer price inflation by year.

Year Inflation
1990 0%
1991 135.6%
1992 1,569%
1993 874%
1994 308%
1995 197.3%
1996 47.8%
1997 14.8%
1998 27.7%
1999 85.7%
2000 20.8%
2001 21.5%
2002 15.8%
2003 13.7%
2004 10.9%
2005 12.7%
2006 9.7%
2007 9%
2008 14.1%
2009 11.6%
2010 6.8%
2011 8.4%
2012 5.1%
2013 6.8%
2014 7.8%
2015 15.5%
2016 7%
2017 3.7%
2018 2.9%
2019 4.5%
2020 3.4%
2021 6.7%
2022 13.7%
2023 5.9%
2024 8.4%
2025 9%

Balance of trade

Russia Rank
Current account balance
$63.2B
2024
9/189
Current account balance, % of GDP
+2.91%
2024
45/189
Goods imports
$300B
2024
20/188
Goods exports
$433B
2024
15/188
Service imports
$81.5B
2024
24/188
Service exports
$43B
2024
34/188
Imports of goods and services, % of GDP
17.6%
2024
169/180
Exports of goods and services, % of GDP
21.9%
2024
142/193

Russia's top 10 trading partners

Russia's biggest trading partner accounting for 16.5%% of all exports and imports is China, with a trade balance between the two of -$4.71B — Russia exports $71.5B worth of goods and services to China and imports $76.2B.

Below is the list of the top 10 trade partners of Russia.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 China $148B 16.5% $71.5B $76.2B Raw materials & minerals Machinery & equipment
2 Germany $65.6B 7.34% $33.1B $32.5B Raw materials & minerals Machinery & equipment
3 Netherlands $52.1B 5.83% $44.3B $7.86B Raw materials & minerals Business & finance services
4 United States $43.3B 4.85% $22.2B $21.1B Raw materials & minerals Machinery & equipment
5 Belarus $42.4B 4.74% $24.7B $17.7B Raw materials & minerals Machinery & equipment
6 Turkey $38.8B 4.35% $27.7B $11.2B Raw materials & minerals Transport & tourism services
7 United Kingdom $34.7B 3.89% $25.4B $9.36B Precious metals & jewellery Machinery & equipment
8 Italy $33.1B 3.71% $20B $13.1B Miscellaneous Machinery & equipment
9 South Korea $31.3B 3.5% $17.5B $13.8B Raw materials & minerals Machinery & equipment
10 Kazakhstan $29.5B 3.31% $20.9B $8.69B Machinery & equipment Raw materials & minerals

Russia's top 10 exports

Russia Rank
Raw materials & minerals $242B 3/193
Miscellaneous $73.8B 3/191
Metals $50.8B 6/192
Precious metals & jewellery $31.6B 8/190
Machinery & equipment $24.8B 37/193
Transport & tourism services $22.1B 30/188
Wood & paper products $16.8B 6/192
Chemicals & pharma $15.4B 31/193
Processed food, beverages & tobacco $13.1B 21/192
Raw agricultural goods $12.1B 18/193

Russia's top 10 imports

Russia Rank
Machinery & equipment $133B 20/193
Transport & tourism services $49.4B 15/188
Chemicals & pharma $44.7B 18/193
Textiles & consumer goods $29.2B 15/193
Metals $18.3B 25/193
Business & finance services $16B 29/188
Miscellaneous $15.2B 8/193
Raw materials & minerals $14.5B 42/193
Processed food, beverages & tobacco $14.2B 16/193
Raw agricultural goods $12.2B 16/193

Economic freedom indices

Russia Rank
Economic freedom 51.6 150/197
Property rights 18.6 167/182
Government integrity 23 167/182
Judicial effectiveness 28.4 167/182
Tax burden 87.7 48/181
Government spending 62 121/180
Fiscal health 97.8 11/181
Business freedom 51.3 132/182
Labor freedom 59 73/182
Monetary freedom 62.2 151/180
Trade freedom 69.4 101/181
Investment freedom 30 155/181
Financial freedom 30 145/181

Russia's economic freedom by year

Russia is ranked 136/180 for economic freedom with a score of 51.6, compared to 132/163 and a score of 51.3 in 2005.

Economic freedom
Judicial effectiveness
Tax burden
Government spending
Fiscal health
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
1995 51.1 - 75.5 67.1 -
1996 51.6 - 75.5 66.5 -
1997 48.6 - 77.7 58.5 -
1998 52.8 - 74.2 67.3 -
1999 54.5 - 74.3 65.3 -
2000 51.8 - 74.6 73 -
2001 49.8 - 74.7 73 -
2002 48.7 - 84.9 58.9 -
2003 50.8 - 90.6 64.5 -
2004 52.8 - 91.6 65.1 -
2005 51.3 - 91.5 58.9 -
2006 52.4 - 90.8 63.5 -
2007 52.2 - 79.5 69.5 -
2008 49.8 - 79.2 69.5 -
2009 50.8 - 78.9 70.6 -
2010 50.3 - 82.3 66.5 -
2011 50.5 - 82.7 65.1 -
2012 50.5 - 82.5 48.6 -
2013 51.1 - 86.9 54.4 -
2014 51.9 - 85.6 61.5 -
2015 52.1 - 86.1 57.8 -
2016 50.6 - 82.2 56.2 -
2017 57.1 44.5 81.8 61.5 93.4
2018 58.2 46.9 85.8 62.5 87.7
2019 58.9 45.1 89.4 62.3 86.6
2020 61 44.4 88.5 63.8 98.7
2021 61.5 42.4 93 66.1 99.6
2022 56.1 34.7 93.1 62.6 99.3
2023 53.8 28 88.3 60.4 99.1
2024 52 32.1 89.8 59.7 95.6
2025 51.6 28.4 87.7 62 97.8

More economic indicators

Russia Rank
Services, % of GDP
57.5%
2024
93/191
Industry, % of GDP
30.7%
2024
52/194
Agriculture, forestry, and fishing, % of GDP
2.74%
2024
133/193
GNI, Atlas method
$2.24T
2024
9/194
GNI per capita, PPP
$46,780
2024
45/191
Total reserves including gold
$597B
2023
6/177
Net foreign direct investment
$8.09B
2024
17/188
Net inflows of foreign direct investment
-$8.1B
2024
186/193
Net outflows of foreign direct investment
-$13.1M
2024
171/187
Poverty at national poverty lines
12.1%
2020
150/176
Gross capital formation, % of GDP
26.3%
2024
58/176

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GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.