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Economics

Russia is fifth among G20 countries in terms of economic growth rate

The rankings were based on 2023 results


According to the national statistical services, last year Russia ranked fifth among the G20 countries in terms of economic growth. This is reported by Brasil 247, a partner of TV BRICS.

The Russian economy grew by 3,6 per cent last year, fully offsetting the 1,2 per cent contraction in 2022. Similarly, India topped the ranking with its GDP growth rate rising from 7,2 per cent to 7,3 per cent. China is next with 5,2 per cent after 3 per cent the previous year. In third place is Indonesia, whose economy grew by 5,1 per cent in 2023 compared to 5,3 per cent in 2022. Turkey, which ranked fourth, had a GDP growth of 4,5 per cent in 2023.

According to Federal State Statistics Service (Rosstat), the Russian economy grew by 3,6 per cent year-on-year in 2023. This is the highest figure since 2021.

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