Thought for the day

NATO's Combined GDP is far Larger than Russia's


 
Last updated: 3 July 2024
 
It is said (attributed to George Bernard Shaw and many others) that God always favours the big battalions in war, meaning that whoever has the greatest resources is likely - sooner or later - to triumph over the many other factors that can play a part. If this is the case, NATO should have no difficulty in pushing Russia out of Ukraine, should it ever get round to offering full blooded support, as the combined GDP of NATO affiliated states is almost 8 times the GDP of Russia.

NATO's Combined GDP Significantly Dwarfs Russia's GDP
GDP in Purchasing Power Parity Terms, Trillions, Int$
NATO
* GDP in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.


Russia, once thought of as having star investment potential, as part of the BRIC acronym (Brazil, Russia, India, China ) has long since fallen by the wayside. Many now perceive Russia as having more in common with the oil rich autocracies of the Middle East than with the high growth countries China and India. Russia typifies the "oil curse" phenomenon, where easy access by its elite to vast rents provided by mineral wealth has precluded development of more balanced economic activity, and ensured Russia's economy has fallen way behind others as a percentage of global GDP in recent years.


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