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WHY RUSSIA CANNOT BE IGNORED ?

Submitted by christian on Sat, 03/09/2019 - 17:02
  1. Russia is the 12th-largest economy, with a GDP in excess of $1.5 trillion, larger than many developed economies such as Australia (N° 13), Spain (N° 14) and the Netherlands (N° 18).
  2. Russia is the world's largest oil producer, with output of 10.6 million barrels per day, larger than both Saudi Arabia (10.5 million barrels) and the United States (9 million barrels).
  3. Russia has the largest landmass of any country in the world and a population of 144 million people, the ninth largest of any country.
  4. Russia is the third-largest gold-producing nation in the world, with total production of 250 tons per year, about 8% of total global output and solidly ahead of the U.S., Canada and South Africa.
  5. Contrary to many analysts' perceptions, Russia is on a sound financial footing. Russia's government debt-to-GDP ratio is 12.6%, which is trivial compared with 253% for Japan, 105% for the United States and 68% for Germany. Russia's external dollar-denominated debt is also quite low compared with the huge dollar-burden debts of other emerging-market economies such as Turkey, Indonesia and China.
  6. The Central Bank of Russia has rebuilt its hard currency reserves to $ 455 billion after those reserves were severely depleted in 2015 following the collapse of oil prices that began in 2014. Total gold reserves amount to almost 1,900 tons today. Russia's gold-to-GDP ratio is the highest in the world and more than double those of the U.S. and China.
  7. Russia's exports are not highly diversified, consisting mostly of oil and natural gas. Still, Russia is highly competitive in the export of nuclear power plants, advanced weaponry and agricultural products. This export sector produces a positive balance of trade for Russia, currentl running at over $ 16 billion per month. Russia has not had a trade deficit in over 20 years.
  8. Russia is a nuclear superpower on par with the United States and well ahead of China, France, the U.K. and other nuclear powers.
  9. In short, Russia is a country to be reckoned with despite the intense dislike for its leader from Western powers. Russia is rich in natural resources, financially sound and a nuclear superpower.
  10. Russia can be disliked but it cannot be ignored.
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WHY RUSSIA CANNOT BE IGNORED ?

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