Russia

How Large Is Russia's Economy?

Russia's GDP of $2.17T makes it a high-income economy by World Bank classification. GDP per capita of $14,889 is 47% below the regional average of 28,000 (World Bank, 2025). The economy has contracted 10% over the past decade, from $2.29T in 2013 to $2.07T in 2023. The most recent annual growth rate of 4.3% is above the global median of 3.1% (World Bank, 2025). The unemployment rate of 2.1% is 65% below the regional average of 6.1 (World Bank, 2025). Inflation of 8.4% is significantly above stable levels, at 2.4 times the global median. Russia's official currency is the Russian ruble (₽). As a UN member, Russia participates in multilateral trade frameworks.

What Are Russia's Demographics?

With 146.0M people, Russia is among the world's 15 most populous countries. At 9 people per km², the country is sparsely populated. Population has grown at 0.0% annually over the past decade (World Bank, 2025). Life expectancy stands at 73.3 years, 1.3 years above the global average of 72 years. Infant mortality of 3.7 per 1,000 live births is 27% below the regional average of 5.1 (World Bank, 2025). The country's official language is Russian. Over the past decade, Russia's population declined from 148.4M to 143.8M, losing 4.6M people. a trend consistent with aging demographics.

Where Is Russia Located?

Russia covers 17,098,246 km² (6,602,000 sq miles) and shares land borders with 14 countries. The country sits within the Europe region, Eastern Europe subregion, spanning Europe and Asia. Moscow serves as the seat of government and administrative capital of Russia. Geographically transcontinental, Russia spans Europe and Asia. The country spans 9 time zones, ranging from UTC+03:00 to UTC+12:00. Recognized internationally by ISO codes RU and RUS, Russia is an independent sovereign state and a full UN member. Its 1 currency (RUB) reflects its participation in multilateral trade and monetary frameworks.

Data sourced from World Bank Open Data. Last updated: March 2026.

Frequently Asked Questions about Russia

Historical Economic Trajectory

Between 1994 and 2023, Russia's GDP expanded by 424% in nominal terms, rising from $395.1B to $2.07T over 29 years. This more-than-doubling of economic output reflects sustained structural growth across the period. Over the same reference period (1994 to 2023), Russia's population declined from 148.4M to 143.8M, a change of 3% (4.6M people) across 29 years. Population decline, driven by emigration and/or falling birth rates, has shaped domestic labour market dynamics and social policy priorities. Taken together, the GDP and population trajectories from 1994 onward illustrate how Russia's economic output has evolved relative to its demographic base. Real GDP per capita has broadly improved over the span, as nominal output growth outpaced population growth by approximately 427 percentage points.

Global Comparative Standing

Russia's GDP per capita of $14,889 is 47% below the regional average of 28,000 of $28,000 for the Europe region (World Bank, 2025). Life expectancy of 73.3 years is 7% below the regional average of 78.5 of 78.5 years for Europe (World Bank, 2025). With a population of 146.0M, Russia is among the world's 15 most populous countries. As a G20 member, Russia participates in the forum of major economies that collectively account for around 85% of global GDP and approximately two-thirds of the world's population.

Countries Similar in Population to Russia

Ethiopia

111.7M

Egypt

107.3M

Mexico

130.6M

Philippines

114.1M

DR Congo

112.8M

Japan

123.2M