Here is a list of the top 10 countries by GDP in 2015. The primary measure of an economy’s performance is its annual total output of goods and services. This is also termed as aggregate output. Aggregate output can be measured in several ways the most popular being Gross Domestic Product or GDP. GDP is the dollar value of all final goods and services produced within the borders of the country during a year. GDP is a monetary measure i.e. it measures the value of the output in monetary value. The list given below ranks the countries in ascending orders of the nominal GDP. Nominal GDP takes the value of goods and services without adjusting for inflation. Real GDP measure accounts for inflation but it is extremely detailed and cumbersome for calculations.
Russia has a high income mixed economy structure with Government investment in strategic areas of economy.
The GDP of the country is $1.857 trillion nominally.
Industry and agriculture is largely privatised whereas defence and energy sectors are largely Government owned. Russia is equipped with creating armoury and fighter jets known for their engineering excellence. Russia is blessed with oil, natural gas and mineral resources and is dependent on the energy sector to drive its revenue growth. Russia has a negative GDP growth of 2.2%. Services is the largest employer in the industry followed by industry and agriculture. Inflation stood at 15.3% in 2015. 15.9% of the population is below poverty line. Unemployment rate is 5.4% and the workforce size is76.5 million. Main industries are Oil and gas, chemicals, mining , defence equipment, shipbuilding, aerospace and automotive. Russia ranks 62 on the ease of doing business index rank. After the Soviet Union entered into an era of stagnation since 1986 Mikhail Gorbachev tried to move the economy to market oriented mixed economy. Russian ruble is the currency of Russian Federation. Also it is accepted as a legal tender in Abkhazia and South Ossetia. Russia;s debt to GDP ratio is one of the lowest in the world. Aircraft manufacturing is one of the largest sector in Russia. Russia is the producer and exporter of military aircrafts like as MiG-29 and Su-30.