Output-side Real GDP at chained Purchasing Power Parities for Russian Federation
RGDPOSRUA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,161,194.50
Year-over-Year Change
39.49%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic trend measures Russia's real gross domestic product (GDP) adjusted for purchasing power parity (PPP). It provides a comprehensive gauge of the Russian economy's productive capacity and living standards relative to other countries.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Output-side real GDP at chained PPPs is a key metric for cross-country economic comparisons. It accounts for price level differences to better reflect the actual volume of goods and services produced in Russia's economy.
Methodology
The data is calculated by the World Bank using expenditure-side national accounts and PPP conversion factors.
Historical Context
This metric informs policymakers and analysts about Russia's economic performance and international competitiveness.
Key Facts
- Russia's output-side real GDP at PPP was $4.1 trillion in 2021.
- Russia's PPP-adjusted GDP per capita was $28,200 in 2021.
- Russia's economy is the 6th largest in the world by PPP-adjusted GDP.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of goods and services produced in the Russian economy, adjusted for differences in purchasing power between Russia and other countries.
Q: Why is this trend relevant for users or analysts?
A: PPP-adjusted GDP provides a more accurate picture of Russia's economic size and living standards compared to simple exchange rate-based GDP. It informs assessments of Russia's international competitiveness and economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using expenditure-side national accounts and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Russia's economic performance, living standards, and competitiveness relative to other major economies.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the World Bank releases PPP-adjusted GDP estimates on an annual basis with a delay.
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Citation
U.S. Federal Reserve, Output-side Real GDP at chained Purchasing Power Parities for Russian Federation (RGDPOSRUA666NRUG), retrieved from FRED.