3 ms·
And Russias GDP is as big as Italy Russia’s GDP is 25% smaller than the U.S. State of Texas. It sounds like a joke but it isn’t. Texas GDP is $2.0 trillion.
by 300bps 5y ago
And Russias GDP is as big as Italy
Russia’s GDP is 25% smaller than the U.S. State of Texas.
It sounds like a joke but it isn’t.
Texas GDP is $2.0 trillion.
Russia GDP is $1.48 trillion.
Most of Russia’s GDP is selling oil and gas which is one of the reasons Putin is able to do this now. Through higher oil prices he’s amassed a war chest of $631 billion in foreign currency reserves that will enable him to weather sanctions. That along with the friendship treaty with China giving them a market to sell their oil and gas and sanctions will prove fairly toothless.
https://www.reuters.com/markets/europe/russia-counts-reserves-shield-against-sanctions-finmin-2022-02-16/ https://www.reuters.com/markets/europe/russia-counts-reserve...
- rich_sasha 5y agoChina doesn’t need Russia as an ally, a client perhaps. Also those petrodollars will slow if Russia has a single buyer. Not to mention, carbohydrates’ days are counter. Gulf countries are diversifying like crazy, Russia not so much.
- achenet 5y agoI think you mean hydrocarbons, carbohydrates are sugars ;)
- gafferongames 5y agoCan confirm carbohydrates market is still strong. I just had an almond croissant for breakfast
- panzagl 5y agoIf Putin wins you'll have babka for breakfast
- rich_sasha 5y agoAs it happens, Russia is. Big exported of carbohydrates too (grain). But yes, pre coffee booboo.
- unfocussed_mike 5y agoAlso the Italy comparison doesn't take into account GDP PPP per capita (Italy 44th in the world, Russia 77th and below several former Comecon states) or the extensive difference in the amount of stolen wealth in their respective diasporas.