• falcunculus@jlai.lu
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    1 year ago

    Your comparison is biased because the economy of Russia is quite insular — you’re basically saying that if they were to export all they produce and buy all they need from the US, they would reach the wealth of 1/4 Mississippi. But the Russians make a lot of stuff themselves, they just have trouble buying from abroad.

    What you want is to compare GDP adjusted for purchasing power parity. Then Russia’s economy becomes comparable with California’s or Germany’s.

    However this must be taken with a grain of salt, because GDP-PPP is hard to measure in the first place (because purchasing power is hard to measure), and Russia is undergoing sanctions and running a war economy, and the Russian government is probably fudging the numbers anyway.