Russia, also known as the Russian Federation, is located in northern Eurasia and is the largest country in the world in terms of land area. After the economic and political turmoil following the fall of the Soviet Union, Russia has once again begun to assert its economic and political power. It has become increasingly more assertive, especially since annexing Crimea in 2014, and the country is seen as an increasing threat to its neighbors. Russian authorities have increased their control over the media, heightened nationalist and anti-western rhetoric, and largely suppressed those who oppose them. The country is currently governed by Vladimir Putin who has had political power, or influence at least, since 2000.
The economy of Russia is in a bit of a turmoil; it is largely propelled by the country's oil and gas industry, since Europe is highly dependent on Russian gas, but at the same time Russia's economic success is also reliant on export trade. Russia has one of the largest shares of global oil and natural gas reserves, and its production of both oil and natural gas continues to flourish. Yet, due to recent reductions in oil and gas prices, Russian GDP growth has slowed andeven dipped into the red in 2015. Negative growth is also expected on the household level as GDP per capita decreased by approximately a third from 2014 to 2015 and has yet to reach previous levels. Its impact will be felt even more as the inflation rate jumped up to more than 15 percent in 2015, and unemployment is not expected to decrease anytime soon. At the same time, national debt is also expected to rise.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.