Latest GDP estimates for countries as estimated by the World Bank

Hello ATS!

Yesterday, in my thread about how the Russian economy is doing under 20,000 Western sanctions, I received several comments in which opponents ranked the Russian economy almost 30th in the world and wrote that it is smaller than the Texas economy. I understand that such statements occur in order to:

1. Get me emotional in advance with absurd insults
2. Once again insult my country
3. Stretch your ego by believing in your own lies.
4. Make ATS members believe lies.

But this only showed his own stupidity and incompetence.

So, the World Bank has updated its PPP GDP estimates for 2023 and 2024. This year, 2024, Russia will overtake Japan and take 4th place in the world. Still, we will have time to overtake before Indonesia approaches.
I think that taking into account the new territories, Russia can easily gain the missing 90 billion. (4-5 million people at 25,000 thousand dollars per capita according to PPP)



In addition, all Western mainstream media assure readers about a huge part of the shadow economy in Russia. Okay, let it be. But then let's take it into account in the general economy. According to the World Bank's estimate of the size of the shadow economy, Russia has 38.1% of GDP, or 43.1% of GDP in another calculation method is not included in the figure above. And Japan has only 10.2% or 10.4%.
And then Russia’s GDP at PPP is almost 8 trillion dollars (7974.6). Or Putin gives $55,000 every year to every Russian.



At the same time, I present Western data, and it is difficult to accuse me of propaganda.

Thank you.

a reply to: RussianTroll

To catch up, anticipating the objections of opponents that it is necessary to calculate GDP at par, and not at PPP.

All over the world, in all civilized countries, except Western ones, GDP has long been calculated using PPP. You will ask why? I will try to answer you as simply and clearly as possible.

Let's imagine two villages.

There are only two people living in the first village. One is a hairdresser, the other is a bartender. The hairdresser gives the bartender a haircut, the bartender gives the barber drinks. Such simple economics.

20 people live in the second village. There are several specialties - carpenter, joiner, welder, farmer, etc. They produce a lot of things, from food to weapons. There are also services - teacher, doctor, hairdresser, etc.

Question: which village has the bigger economy?
Any reasonable person will immediately say that the second village has a clearly larger economy. If by economy we mean the number of goods and services, business connections, etc.

But then liberal economists come on stage and say:

“- Eh, no. Wait! Let’s calculate the economy not in goods and services, but in dollars!”

And then it turns out that in the first village there lives some very cool hairdresser who gives the bartender a haircut for $1,000 a haircut. But the bartender is not a fool, he gives his cool friend drinks for $1000.

In total, it turns out that the GDP of the first village is $2,000 (since GDP is the total cost of goods and services). Although in fact we have only one short-haired bartender and one drunk hairdresser.

But in the second village the situation is different. They have their own currency. Let's say some denarius. So, their total GDP is equal to a million denarii. But here’s the “trouble”: the exchange rate of the denarius to the dollar is small. Well, let's say a million denarii is only 1000 dollars.

And it turns out that in dollars the economy of the first village is 2 times larger, although this is complete absurdity, because we see that the first village is clearly lagging behind in terms of economy.

This is a clear demonstration of two approaches to calculating the size of GDP.

The first approach: count everything in dollars (well, or in any other currency, the main thing is in the same one). Then the first village has a GDP of $2000, and the second village has a GDP of $1000. This is nominal GDP.
The second approach is to calculate taking into account domestic prices. That is, roughly speaking, count not based on cost, but based on the quantity of goods and services produced - in tons of grain collected, in pieces of furniture produced, in the number of heads shorn, etc. This is GDP in PPP terms.
And if we consider the economy of two villages from this point of view, it turns out that in the first village the economy consists of only one shorn bartender and one drunk hairdresser.

And in the second village there is grain, metal, furniture... Well, there are also haircuts and drinks, not without that.

Well, which method of calculating GDP do you think is more objective? Nominal or PPP?
100% more objective than GDP at PPP, if we want to compare the size of the economy precisely in terms of the number of goods and services, and not their cost.

Although, I am not saying that nominal GDP is not important. It is also sometimes useful to know, it also influences a lot of things, but still GDP based on PPP is more readily taken into account by economists.

In addition, determining the exchange rates of national currencies is the most non-market mechanism. We all know very well that if, suppose, the United States needs to depreciate the exchange rate of any country, then speculative aggressive non-market mechanisms are instantly activated. In turn, other states also defend themselves by non-market methods, protecting their currency. Thus, the exchange rate in any country is determined by the priorities and needs of the economic course of that country, and not by the free market.

Moreover, most analytical firms (including, in my opinion, those within the World Bank) have long abandoned the calculation of nominal GDP, because it means almost nothing compared to GDP in PPP terms.

Yawn....

PPP GDP can be faulted for the fact that it doesn’t incorporate discrepancies in quality between goods and services in different countries. In general, it’s less exact than nominal GDP and often hinges on estimates rather than calculations. As such, the nominal GDP is typically used to measure and compare the size of national economies.

Did you decide to change to ppp instead of Nominal GDP because Russia is dropping down the rankings??

a reply to: Kurokage

Value your yawn at a trillion dollars and you will immediately surpass China in terms of GDP. True, you will have nothing but yawning, not even a bottle of water))))

originally posted by: RussianTroll
a reply to: Kurokage

Value your yawn at a trillion dollars and you will immediately surpass China in terms of GDP. True, you will have nothing but yawning, not even a bottle of water))))

I think thats more Putins style

originally posted by: Kurokage

originally posted by: RussianTroll
a reply to: Kurokage

Value your yawn at a trillion dollars and you will immediately surpass China in terms of GDP. True, you will have nothing but yawning, not even a bottle of water))))

I think thats more Putins style

I doubt what you can think, except perhaps with the headlines of Western media))))

a reply to: RussianTroll

After reading that gobbledygook you wrote I think you truly do not understand economics. First let's go for simple definitions. GDP is Gross national product this is simply takes the quantities of all final goods and services produced and sold in markets, multiplying them by their current prices, and adding up the total. This tells you maximum spending in an economy. In other words what they could potentially achieve.

Now PPP is a different animal this is purchasing power and is directly related to the exchange rate of currency. This number can and does get manipulated by governments China is notorious for this. If we calculate PPP it is the value of a country’s goods and services again as if they were offered at US rates, PPP will tell us the living standards of any country as compared to US. However since it factors in government spending you get a false total of what an individual has to truly spend. Russia has been propping up the Rubble through economic stimulus and military spending.

The main difference is GDP tells you the health of the economy and PPP tells you the health of consumer spending.

a reply to: RussianTroll


How does that work out per capita?

Is Russia still in 5th place?

Does the ranking maybe still start with a 5?

a reply to: RussianTroll

I doubt what you can think, except perhaps with the headlines of Western media))))

Im not the Russian Mouthpiece posting AI created images as proof how good Russian internet is, or posting a different way how GDP is usually calculated to make my country look better than it is??

originally posted by: Kurokage
a reply to: RussianTroll

I doubt what you can think, except perhaps with the headlines of Western media))))

Im not the Russian Mouthpiece posting AI created images as proof how good Russian internet is, or posting a different way how GDP is usually calculated to make my country look better than it is??

I would be very pleased if you became King of Britain. Then Britain would very quickly go into oblivion and the entire civilized world would be freed from the main villain of our civilization))))

a reply to: RussianTroll

I would be very pleased if you became King of Britain. Then Britain would very quickly go into oblivion and the entire civilized world would be freed from the main villain of our civilization))))

I see you're trying to be sarcastic, but it doesn't translate well from Russian. How was your Mom last night?

Things must be getting bad in Russia, if it needs a mouthpiece on a dying conspiracy website to post continuous propaganda about 'how great it is and how well its doing!!'
It's funny hearing a Russian Troll talk about villians of civilization.

a reply to: RussianTroll

Purchasing Power Parity isn't nominal GDP.

I can go to Tijuana right now and have greatly increased purchasing power parity. Doesn't mean Mexico has a stronger economy it means you can buy more with their money by comparison.

India GDP = 4.112
India PPP = 16.8

Mexico GDP = 1.811
Mexico PPP = 3.278

Germany GDP = 4.730
Germany PPP = 5.041

By "PPP is better" logic India is better than Mexico which is better than Germany.

Gross national PPP is pimped by countries who need their lower valued currency and cost of living to seem more important than it is. Think China pushes it the hardest.

2024 GDP:

#1 United States Of America 27,975
#2 China 18,566
#3 Germany 4,730
#4 Japan 4,291
#5 India 4,112
#6 United Kingdom 3,592
#7 France 3,182
#8 Italy 2,280
#9 Brazil 2,272
#10 Canada 2,242

And I don't see people lining up to experience India's purchasing power parity, except by a bunch of Western capitalist companies that want to exploit it.

ETA:

And as far as PER CAPITA PPP goes (USD)

Luxembourg 143,304 *
Ireland 137,638 *
Singapore 133,108 *
Liechtenstein - *
Qatar 114,210
Monaco - *
Macau 98,157 *
Switzerland 89,537 *
United Arab Emirates 88,962
Norway  82,236
United States 80,412

* Mostly just tax havens. Even UAE and Qatar can be considered Arab tax havens.

originally posted by: Kurokage
a reply to: RussianTroll

I would be very pleased if you became King of Britain. Then Britain would very quickly go into oblivion and the entire civilized world would be freed from the main villain of our civilization))))

I see you're trying to be sarcastic, but it doesn't translate well from Russian. How was your Mom last night?

Things must be getting bad in Russia, if it needs a mouthpiece on a dying conspiracy website to post continuous propaganda about 'how great it is and how well its doing!!'
It's funny hearing a Russian Troll talk about villians of civilization.

Likewise. Turn your complaints towards yourself.
In turn, I want to inform you, Mister, that I already really love ATS, I have been on the forum for a very long time and I am an ATS patriot! I really hope that mods and ATS members will find material and moral ways to save our forum. If I could, I would certainly transfer the necessary money to save the forum. But I cannot do this, since sanctions have been introduced and I physically cannot transfer the money.
If you hope that ATS will die, then don’t hope, there are many supporters of the forum here. CAN'T WAIT!!!

originally posted by: RussianTroll

originally posted by: Kurokage
a reply to: RussianTroll

I would be very pleased if you became King of Britain. Then Britain would very quickly go into oblivion and the entire civilized world would be freed from the main villain of our civilization))))

I see you're trying to be sarcastic, but it doesn't translate well from Russian. How was your Mom last night?

Things must be getting bad in Russia, if it needs a mouthpiece on a dying conspiracy website to post continuous propaganda about 'how great it is and how well its doing!!'
It's funny hearing a Russian Troll talk about villians of civilization.

Likewise. Turn your complaints towards yourself.
In turn, I want to inform you, Mister, that I already really love ATS, I have been on the forum for a very long time and I am an ATS patriot! I really hope that mods and ATS members will find material and moral ways to save our forum. If I could, I would certainly transfer the necessary money to save the forum. But I cannot do this, since sanctions have been introduced and I physically cannot transfer the money.
If you hope that ATS will die, then don’t hope, there are many supporters of the forum here. CAN'T WAIT!!!

Please point to my ATS propaganda threads??
You've been here 5 minutes compared to most of the people here including myself and 90% of your threads are straight from the pages of the beginners guide to state propaganda!!

originally posted by: Kurokage

originally posted by: RussianTroll

originally posted by: Kurokage
a reply to: RussianTroll

I would be very pleased if you became King of Britain. Then Britain would very quickly go into oblivion and the entire civilized world would be freed from the main villain of our civilization))))

I see you're trying to be sarcastic, but it doesn't translate well from Russian. How was your Mom last night?

Things must be getting bad in Russia, if it needs a mouthpiece on a dying conspiracy website to post continuous propaganda about 'how great it is and how well its doing!!'
It's funny hearing a Russian Troll talk about villians of civilization.

Likewise. Turn your complaints towards yourself.
In turn, I want to inform you, Mister, that I already really love ATS, I have been on the forum for a very long time and I am an ATS patriot! I really hope that mods and ATS members will find material and moral ways to save our forum. If I could, I would certainly transfer the necessary money to save the forum. But I cannot do this, since sanctions have been introduced and I physically cannot transfer the money.
If you hope that ATS will die, then don’t hope, there are many supporters of the forum here. CAN'T WAIT!!!

Please point to my ATS propaganda threads??
You've been here 5 minutes compared to most of the people here including myself and 90% of your threads are straight from the pages of the beginners guide to state propaganda!!

Are you going back on your words? UGH!
And there is no need to cry and complain when you are caught)))))

a reply to: RussianTroll

Are you going back on your words? UGH!
And there is no need to cry and complain when you are caught)))))

I see you can't post a single link!!!
Oh, you're like most of your threads, full of hot air and bull crap.

a reply to: Kurokage

I don't expect anything else from zombies)))

a reply to: RussianTroll

I don't expect anything else from zombies)))

I see you can't find a propaganda piece ive posted.

Do you even know what your saying, as its very bad English and doesn't mean anything???

a reply to: RussianTroll

Note this caveat from your source:

"However, we cannot compensate for lack of statistical capacity, use of out-of-date System of National Account Frameworks (SNA), or bad Governance (especially dictators fabricating the numbers), so we leave the Data Quality Rating's in the table as a warning."

a reply to: Kurokage

I shed tears))) Regarding my “bad English”, please contact Google Translator with your complaints))))