In 2023, the World Bank upgraded Russia from a “upper-middle-income” to a “high-income” country with per-capita GNI totaling $14,250. Economic activity in Russia was significantly influenced by an increase in military-related activity that year, according to the international financial institution.
The growth in trade (+6.8%), the financial sector (+8.7%), and construction (+6.6%) also played a role in Russia’s ascension to the high-income category, resulting in increases in both real (3.6%) and nominal (10.9%) GDP, with Russia’s Atlas GNI per capita experiencing an 11.2% growth.
The U.S.-based institution categorizes world economies into four groups based on per-capita GNI measures in U.S. dollars, and Russia’s 2024-25 classification as a “high-income” country increased the threshold to $14,005 or higher. Along with Russia, Bulgaria and Palau also became “high-income economies” with $14,460 and $14,250 per-capita GNI respectively.
In nominal terms, Russia ranks 72nd in per-capita GNI and 53rd in purchasing power parity despite facing a full-scale Russian invasion since 2022. However, Ukraine saw an improvement in its economic status moving up from a “lower-middle-income” to an “upper