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Russia's Economy The Size Of Belgium's?  
User currently offlineArsenal@LHR From United Kingdom, joined Mar 2001, 7792 posts, RR: 20
Posted (12 years 2 weeks 6 days 12 hours ago) and read 1650 times:
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I was watching a programme about Russia and the cold war, and they mentioned that Russia'a economy is the same size as Belgiums economy now, is this true? If it is, it's quite suprising.

Arsenal@LHR


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4 replies: All unread, jump to last
 
User currently offlineHepkat From Austria, joined Aug 2000, 2341 posts, RR: 2
Reply 1, posted (12 years 2 weeks 6 days 12 hours ago) and read 1639 times:

Wow, that would be quite surprisingly. Either the Belgians have their act together, or Russia needs to get theirs.

On a sidenote, since moving to Europe I've been absolutely amazed at the progress made in 60+ years by these countries. They're virtually industrial powerhouses considering what they had to go through at the end of the last world war. Take Austria, for instance, a totally destroyed economy 60 years ago, and just look at what they've achieved today. These are nothing short of miracles, and I wish we could apply their solution to the rest of the world. I know, it's wishful thinking, but it's really a success story.


User currently offlineKHI747 From United States of America, joined Oct 2000, 1615 posts, RR: 1
Reply 2, posted (12 years 2 weeks 6 days 11 hours ago) and read 1632 times:

Ummm...See the way to measure and economy is by looking at the size of the Gross Domestic Product (GDP).
The Russian GDP, with purchasing power parity, is $1.12 trillion or $1,112 billion.
The Belgian GDP, with purchasing power parity, is $259.2 Billion.
By looking at the above, obviously Russia has an economy many times larger then Belgium. HOWEVER when i looked up their nominal GDPs i was quite surprised my self. The nominal GDP was Russia,after shrinking for the past few years, is about $260-270 Billion and Belgium has a GDP of around $230-240 Billion. So yes by measuring their NOMINAL GDP it seems that Belgium and Russia have a similar economy size.


User currently offlineArsenal@LHR From United Kingdom, joined Mar 2001, 7792 posts, RR: 20
Reply 3, posted (12 years 2 weeks 6 days 10 hours ago) and read 1616 times:
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Hmm...I think the Russians need to get their act together, from being a superpower with a big economy, to the depths of a fallen giant. Few years ago, i heard they were rationing food in in Russia.  Wow!

Arsenal@LHR



In Arsene we trust!!
User currently offlinePacificjourney From New Zealand, joined Jul 2001, 2731 posts, RR: 8
Reply 4, posted (12 years 2 weeks 6 days 10 hours ago) and read 1616 times:

We need to remember that Belgiums numbers are probably an accurate measure of her economy whereas Russia has a black economy estimated at 3 times it's official one.

For whatever it's worth.



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