Russia's economy ranked fourth globally by purchasing power

Russia has become a top-five global economic leader, ranking fourth in contribution to world GDP based on purchasing power parity (PPP) in 2024. The Russian economy's GDP, measured by PPP, reached a record $6.94 trillion in 2024, up from $6.48 trillion the previous year, according to the IMF and RIA Novosti. China, the U.S., and India ranked first, second, and third, respectively. This economic growth follows statements by the Russian Prime Minister, who cited the ongoing military operation as a catalyst for innovation and technological advancement within the country.