Russia has returned to the top ten largest economies and ranked eighth for the first time since 2014 by producing US$2.3 trillion worth of goods and services in 2022, data from the World Bank and statistical services.

In 2014, Russia ranked ninth in the list of the world’s major economies by manufacturing US$2.05 trillion worth of goods and services, while in 2021 the country was in 11th place, the data said.

The data showed that the US economy topped the rating in 2022 with its nominal gross domestic product (GDP) estimated at US$25.5 trillion, while China ranked second (US$17.9 trillion), followed by Japan (US$4.2 trillion), Germany (US$4.07 trillion), and India (US$3.4 trillion).

In addition, the UK’s economy remained sixth (US$3.07 trillion) in the list and France ranked seventh (US$2.8 trillion), according to the statistics.

The 2022 GDP rating of countries was based on the latest annual or quarterly data provided by the national statistical services in state currencies and recalculated in dollar terms, if necessary, at the average exchange rate for the corresponding period. The World Bank’s data has been used for the period of 2021.

source thesundaily.my