Russia has returned to the top ten largest economies in terms of GDP and ranked eighth for the first time since 2014, data from the World Bank and national statistical services analyzed by Sputnik showed.
Russia, which fell out of the world's top-10 economies in 2015, produced $2.3 trillion worth of goods and services last year, making it the world's eighth-largest economy. The last time Russia was in the top-10 economies was in 2014, when it ranked ninth with $2.05 trillion. In 2021, the country has been placed on the eleventh place.
The data showed that the US economy topped the rating in 2022 with its nominal gross domestic product (GDP) estimated at $25.5 trillion, while China ranked second ($17.9 trillion), followed by Japan ($4.2 trillion).
Germany maintained its fourth position in the ranking, with a GDP of $4.07 trillion, followed by India, the fifth-largest economy, with a GDP of $3.4 trillion dollars. The UK retained sixth place ($3.07 trillion) and France remained seventh with $2.78 trillion GDP.
After Russia, which is eighth in the ranking ($2.3 trillion), comes Canada, with its nominal GDP of $2.14 trillion, followed by Italy, which went down two notches for the year, retreating to tenth place with a GDP of $2.01 trillion.
Meanwhile, South Korea fell out of the top ten, dropping three notches to 13th place based on last year's results.
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 had been used for the period of 2021.