GDP per capita adjusted for PPP in the CIS 2010-2028, by country

Russia had the highest GDP per capita based on purchasing-power-parity (PPP) in the Commonwealth of Independent States (CIS) between 2010 and 2022 and was forecast to remain in the leading position in the following years. However, Kazakhstan was predicted to slowly close the gap with Russia by 2028.

What are the largest economies in the CIS?

At approximately 2.24 trillion U.S. dollars, Russia had the largest GDP among the CIS countries in 2022. The country generated most of its wealth through its energy sector, given that a high percentage of its industrial and agricultural sectors was privatized in the 1990s. Ranking second and third were Kazakhstan and Ukraine whose GDP amounted to 226 billion U.S. dollars and 161 billion U.S. dollars, respectively. Looking at national debt, Ukraine demonstrated the highest ratio to GDP, at over 78 percent in 2022. Despite exhibiting the third lowest figure among CIS countries in 2022, Russia’s national debt was forecast to increase between 2023 and 2025.

Inflation in the CIS

The highest inflation rate in the CIS region was recorded in Moldova, at around 29 percent in 2022. It was followed by Belarus and Kazakhstan, where consumer prices grew by approximately 15 percent relative to the previous year. Except Kazakhstan, inflation was forecast to slow down in every country of the CIS region in 2023, with the highest decline predicted for Moldova at nearly 15 percent. As of January 2023, monthly expenses on the basic food basket occupied around 40 percent of the official minimum wage in Moldova. At the same time, in Uzbekistan, the minimum wage was just enough to cover basic food expenses.