Russia GDP per capita PPP (2024)

FAQs

Is Russia's GDP per capita good? ›

Russia had a GDP per capita of USD 15,287 in 2022, compared to USD 15,943 a decade earlier. This contrasts with the Eastern Europe average of USD 11,895.

GDP per Capita PPP in Russia averaged 20891.46 USD from 1990 until 2022, reaching an all time high of 28057.03 USD in 2021 and a record low of 12358.15 USD in 1998.

PPP indicates the rate of exchange that accounts for price differences across countries, allowing for international comparisons of real output and incomes. An international dollar has the same purchasing power in the domestic economy as the US dollar has in the United States.

Russia Annual Household Income per Capita reached 7,082.736 USD in Dec 2023, compared with the previous value of 7,938.808 USD in Dec 2022. Russia Annual Household Income per Capita data is updated yearly, available from Dec 1992 to Dec 2023, with an averaged value of 5,703.074 USD.

Comparisons of national wealth are frequently made based on nominal GDP and savings (not just income), which do not reflect differences in the cost of living in different countries (see List of countries by GDP (nominal) per capita); hence, using a PPP basis is arguably more useful when comparing generalized ...

Higher GDP per capita often signifies a more affluent market, making it an attractive destination for investments in sectors like luxury goods or high-end services. Meanwhile, markets which are forecast to have increasing GDP per capita can be ripe business opportunities to capitalise on.

Which is the poorest country in the world? ›

Luxembourg, whose financial sector makes up 25% of its GDP, is the world's richest country by GDP per capita. With a population of just 660,000, the country is also considered a tax haven, incentivizing foreign investment due to its favorable tax policies.

Burundi is believed to have a GDP per capita of just 245.81 U.S. dollars - for reference, Luxembourg has the highest GDP per capita in the world, at almost 126,000 U.S. dollars, which is around 510 times larger than that of Burundi (U.S. GDP per capita is over 250 times higher than Burundi's).

Here is the full ranking of the richest countries in 2023, according to their per capita GDP. Lao P.D.R. Luxembourg, one of the smallest countries in the EU has a population of 634,000 and is the richest country in this ranking with a per capita GDP of nearly $130,000.

GDP per capita (current US$) - Russian Federation, Lower middle income.

The United States, by contrast, has a nominal GDP of $20.89 trillion—roughly 14 times the size of Russia's economy. And nominal GDP per capita is $63,413. Even three U.S. states have larger GDPs than Russia: California ($3.1 trillion), Texas ($1.78 trillion) and New York ($1.7 trillion).