Nominal GDP of Russia was $1,776 billion in 2021. The indicator recorded a year-on-year growth of 19.4% in 2021 and between 2010 and 2021, the indicator increased by 16.5%. The nominal GDP of Russia was highest in the year 2013 and lowest in the year 2016, between 2010 and 2021. Russia’s real GDP hit $1.8 trillion in 2021, an increase of 4.2% over the previous year.
According to GlobalData, the countries that had the highest nominal GDP in 2021 were the United States, China, Japan, Germany, India, the United Kingdom, France, Zimbabwe, Italy, and Canada.
Countries with the lowest nominal GDP include Saint Helena, Tuvalu, Montserrat, Nauru, Kiribati, Palau, Cook Islands, Marshall Islands, Anguilla, and Micronesia.
In 2021, Zimbabwe, Libya, Iran, Guyana, and Vietnam had the highest year-on-year growth in their nominal GDP, and Syria, South Sudan, Afghanistan, Suriname, Cook Islands, and Myanmar were some of the countries with the lowest year-on-year growth of their nominal GDP.
Nominal GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for the depreciation of fabricated assets or for the depletion and degradation of natural resources.
Real GDP is computed using prices from the base year adjusted for inflation. The United States, China, Japan, Germany, and India have the top five economies in the world in terms of real GDP. With a value of $12.7 trillion, China had the second-largest real GDP behind the United States in 2021. Japan ranked third globally with a $6 trillion real GDP during the same period. The next two largest economies are Germany and India, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
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