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Economy of Russia vs Vietnam compared: GDP & Debt

Updated on by Georank team

Russia has a GDP of $2.17T compared to $476B for Vietnam, ranking 11/197 and 33/197 by economy size, respectively.

Russia has $440B in government debt (20.3% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Russia vs Vietnam GDP by year

Russia
Vietnam
1x
Year GDP, current $
Russia Vietnam
2024 $2,173,835,806,672 $476,388,230,307
2023 $2,071,505,725,031 $433,857,681,378
2022 $2,291,612,121,335 $413,445,230,669
2021 $1,829,186,719,575 $366,474,752,771
2020 $1,493,075,894,362 $346,615,738,538
2019 $1,693,115,002,708 $334,365,270,497
2018 $1,657,328,773,461 $310,106,478,395
2017 $1,574,199,360,089 $281,353,605,987
2016 $1,276,786,350,881 $257,096,001,178
2015 $1,363,482,182,198 $239,258,328,382
2014 $2,059,241,589,895 $233,451,469,643
2013 $2,292,470,078,346 $213,708,811,665
2012 $2,208,293,553,878 $195,590,661,129
2011 $2,045,922,753,398 $172,595,049,184
2010 $1,524,916,715,224 $147,201,173,197
2009 $1,222,645,900,056 $106,014,659,565
2008 $1,660,848,058,303 $99,130,304,099
2007 $1,299,703,478,482 $77,414,425,532
2006 $989,932,071,353 $66,371,664,817
2005 $764,015,973,481 $57,633,255,738
2004 $591,016,690,732 $45,427,854,693
2003 $430,347,420,185 $39,552,513,232
2002 $345,470,494,418 $35,064,105,501
2001 $306,602,070,621 $32,685,198,809
2000 $259,710,142,197 $31,172,518,403
1999 $195,907,128,351 $28,683,659,007
1998 $270,955,486,862 $27,209,602,050
1997 $404,928,954,192 $26,843,700,442
1996 $391,724,890,744 $24,657,470,575
1995 $395,537,185,735 $20,736,164,459
1994 $395,077,301,248 $16,286,433,533
1993 $435,083,713,851 $13,180,953,598
1992 $460,290,556,901 $9,866,990,236
1991 $517,962,962,963 $9,613,369,520
1990 $517,014,446,228 $6,471,740,806
1989 $506,631,299,735 $6,293,304,975
1988 $554,828,660,436 $25,423,812,649
1987 - $36,658,108,850
1986 - $26,336,616,250
1985 - $14,094,687,821

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06).

GeoRank.org/economy/russia/vietnam | CC BY

GDP per capita in Russia vs Vietnam by year

Russia
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Russia Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $15,145 $47,405 $4,717 $16,386
2023 $14,403 $44,269 $4,323 $15,034
2022 $15,888 $40,939 $4,148 $13,905
2021 $12,637 $38,638 $3,704 $12,049
2020 $10,280 $31,491 $3,534 $11,609
2019 $11,640 $30,964 $3,441 $11,029
2018 $11,399 $28,629 $3,222 $10,010
2017 $10,835 $25,778 $2,956 $9,170
2016 $8,804 $24,012 $2,735 $8,375
2015 $9,427 $23,994 $2,578 $7,672
2014 $14,277 $25,688 $2,546 $7,297
2013 $15,941 $26,020 $2,360 $6,758
2012 $15,402 $24,274 $2,185 $6,377
2011 $14,305 $22,790 $1,951 $5,786
2010 $10,675 $20,490 $1,683 $5,389
2009 $8,563 $19,390 $1,226 $5,061
2008 $11,635 $20,164 $1,164 $4,844
2007 $9,101 $16,648 $926 $4,581
2006 $6,920 $14,912 $808 $4,237
2005 $5,323 $11,822 $711 $3,894
2004 $4,102 $10,227 $565 $3,543
2003 $2,975 $9,255 $497 $3,240
2002 $2,378 $8,037 $445 $3,002
2001 $2,100 $7,361 $419 $2,809
2000 $1,772 $6,825 $404 $2,614
1999 $1,331 $5,914 $376 $2,421
1998 $1,835 $5,465 $361 $2,308
1997 $2,738 $5,700 $362 $2,189
1996 $2,644 $5,518 $337 $2,019
1995 $2,666 $5,613 $287.8 $1,841
1994 $2,662 $5,734 $229.9 $1,674
1993 $2,931 $6,420 $189.4 $1,534
1992 $3,099 $6,862 $144.5 $1,413
1991 $3,490 $7,858 $143.7 $1,298
1990 $3,494 $8,028 $98.8 $1,210
1989 $3,430 - $98.1 -
1988 $3,778 - $405 -
1987 - - $595 -
1986 - - $436 -
1985 - - $238.6 -

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06).

GeoRank.org/economy/russia/vietnam | CC BY

Russia's GDP per capita is $15,145, ranking 68/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Russia ranks 50th at $47,405, while Vietnam ranks 108th at $16,386.

Economic indicators

Russia Vietnam
Gross domestic product
$2.17T
2024
$476B
2024
GDP rank
11/197
2024
33/197
2024
GDP growth
4.34%
2023-2024
7.09%
2023-2024
GDP per capita
$15,145
2024
$4,717
2024
GDP per capita rank
68/197
2024
122/197
2024
GDP per capita, PPP
$47,405
2024
$16,386
2024
GDP per capita PPP rank
50/197
2024
108/197
2024
Government debt
$440B
2024
$149B
2024
Debt-to-GDP ratio
20.3%
2024
31.3%
2024
Government debt per person
$3,067
2024
$1,475
2024
Government debt per person rank
98/185
2024
132/185
2024
Average annual personal income after taxes
$10,464
2026
$4,020
2026
Market capitalization of domestic companies
$650B
2023
$205B
2024
Number of millionaires
426,000
2025
n/a
Number of billionaires
140
2025
5
2025
Income share by richest 10%
25.1%
2023
28.1%
2022
Income share by poorest 10%
3.1%
2023
2.6%
2022
Government expenditure, % of GDP
36.9%
2024
19.1%
2024
Consumer prices inflation
8.4%
2023-2024
3.6%
2023-2024
Central bank interest rate
16%
2025
4.5%
2023
Unemployment rate
2.43%
2024
1.53%
2024
Population
141906741
102365351

Spending and national debt comparison by year

Russia
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Russia Vietnam
Government spending Government debt Government spending Government debt
2024 36.9% 20.3% 19.1% 31.3%
2023 35.7% 19.5% 18.8% 34.3%
2022 35.2% 18.5% 18.2% 34.9%
2021 34.9% 16.5% 20.1% 39.2%
2020 39.2% 19.2% 21.3% 41.3%
2019 33.8% 13.7% 19.8% 41%
2018 32.6% 13.6% 20.5% 43.8%
2017 34.8% 14.3% 21.5% 46.6%
2016 36.6% 14.8% 22.2% 47.9%
2015 35.3% 15.3% 24.2% 46.1%
2014 34.9% 15.1% 22.8% 43.6%
2013 34.7% 12.3% 24.5% 41.4%
2012 34% 11.2% 23.5% 38.3%
2011 33.3% 10.3% 21.2% 36.2%
2010 35.5% 10.1% 23.7% 37.3%
2009 38.6% 9.92% 25% 36.2%
2008 32% 7.45% 21.4% 31%
2007 31.9% 8.03% 22.3% 32.2%
2006 29% 9.8% 20.5% 30.2%
2005 29.5% 14.9% 20.6% 28.7%
2004 29.6% 20.8% 19.4% 29.4%
2003 32.6% 28.3% 22.2% 29.8%
2002 33.8% 37.6% 19.7% 27.7%
2001 31.5% 44.4% 19.2% 25.4%
2000 30.7% 55.9% 17.8% 24.8%
1999 34.3% 92.4% 16.7% -
1998 39.7% 135.2% 16% -
1997 - 51.5% - -
1996 - 51.9% - -
1995 - 53.7% - -
1994 - 63.5% - -
1993 - 92.4% - -
1992 - 116% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-02-20).

GeoRank.org/economy/russia/vietnam | CC BY

In 2024, Russia's government spending was $802B, accounting for 36.9% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 20.3% in Russia and 31.3% in Vietnam, ranking 175/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Russia

Vietnam
1x
Year Deficit/surplus, % of GDP
Russia Vietnam
2024 -1.6% -1.54%
2023 -2.22% -1.72%
2022 -1.34% 0.67%
2021 0.78% -1.43%
2020 -3.99% -2.86%
2019 1.93% -0.4%
2018 2.92% -1.02%
2017 -1.47% -1.96%
2016 -3.67% -3.16%
2015 -3.39% -4.98%
2014 -1.07% -5.02%
2013 -1.16% -5.96%
2012 0.38% -5.46%
2011 1.43% -0.9%
2010 -3.19% -2.25%
2009 -5.89% -4.82%
2008 4.55% -0.45%
2007 5.59% -1.74%
2006 7.8% 0.2%
2005 7.6% -0.95%
2004 4.57% -0.15%
2003 1.35% -2.56%
2002 0.67% -1.85%
2001 2.99% -2.19%
2000 3.11% -1.61%
1999 -3.59% -1.25%
1998 -7.42% -0.1%
1997 - -
1996 - -
1995 - -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 0.15% -
1939 0.12% -
1938 0.16% -
1937 0.12% -
1936 0.1% -
1935 0.07% -
1934 0.25% -
1933 0.58% -
1932 0.06% -
1931 -1.12% -
1930 -1.62% -
1929 -0.4% -
1928 -0.4% -
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 0.69% -
1911 1.26% -
1910 1.52% -
1909 -0.15% -
1908 -0.83% -
1907 -0.86% -
1906 -3.19% -
1905 -7.72% -
1904 -5.13% -
1903 1.04% -
1902 -1.57% -
1901 0.14% -
1900 -0.36% -
1899 0.66% -
1898 0.03% -
1897 0.34% -
1896 1.3% -
1895 0.7% -
1894 1.43% -
1893 0.63% -
1892 -1.16% -
1891 -0.97% -
1890 0.01% -
1889 1.34% -
1888 0.88% -
1887 0.14% -
1886 -0.84% -
1885 -0.75% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-02-20).

GeoRank.org/economy/russia/vietnam | CC BY

In 2024, Russia's government deficit, the difference between spending and revenue, was $34.9B, equivalent to 1.6% of GDP. This compares to Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Russia recorded a fiscal deficit in 13 of those years, while Vietnam ran a deficit in 25 years. On average, Russia posted an annual surplus equal to 0.21% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Russia

Vietnam
1x
Year Consumer prices inflation
Russia Vietnam
2024 8.4% 3.6%
2023 5.9% 3.3%
2022 13.7% 3.2%
2021 6.7% 1.8%
2020 3.4% 3.2%
2019 4.5% 2.8%
2018 2.9% 3.5%
2017 3.7% 3.5%
2016 7% 2.7%
2015 15.5% 0.6%
2014 7.8% 4.1%
2013 6.8% 6.6%
2012 5.1% 9.1%
2011 8.4% 18.7%
2010 6.8% 9.1%
2009 11.6% 6.7%
2008 14.1% 23.3%
2007 9% 8.4%
2006 9.7% 7.7%
2005 12.7% 8.3%
2004 10.9% 7.8%
2003 13.7% 3.1%
2002 15.8% 3.8%
2001 21.5% -0.4%
2000 20.8% -1.8%
1999 85.7% 4.1%
1998 27.7% 8.1%
1997 14.8% 3.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/russia/vietnam | CC BY

Over the past 28 years, Russia has recorded an average annual inflation rate of 13.4%, compared with 5.64% in Vietnam. In 2024, inflation was 8.4% in Russia and 3.6% in Vietnam.

Top exports between countries

Russia
Export category Export value
Metals $621M
Raw materials & minerals $591M
Miscellaneous $304M
Animal & marine products $199M
Machinery & equipment $189M
Chemicals & pharma $98.9M
Processed food, beverages & tobacco $93.1M
Wood & paper products $86.4M
Raw agricultural goods $49.6M
Business & finance services $34.7M
Vietnam
Export category Export value
Textiles & consumer goods $591M
Raw agricultural goods $298M
Machinery & equipment $285M
Raw materials & minerals $206M
Processed food, beverages & tobacco $131M
Animal & marine products $123M
Chemicals & pharma $52.6M
Metals $48.1M
Miscellaneous $9.94M
Wood & paper products $1.83M

Balance of trade

Russia Vietnam
Current account balance
$63.4B
2024
$28B
2024
Current account balance ranking
12/190
2024
18/190
2024
Current account balance, % of GDP
+2.91%
2024
+5.89%
2024
Goods imports
$302B
2024
$362B
2024
Goods exports
$434B
2024
$406B
2024
Service imports
$81.5B
2024
$36.2B
2024
Service exports
$43.1B
2024
$23.9B
2024
Imports of goods and services, % of GDP
17.6%
2024
83.7%
2024
Exports of goods and services, % of GDP
21.9%
2024
90.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Russia Vietnam
Economic freedom 50.3 64.4
Economic freedom ranking 161/197 73/197
Property rights 18.6 47.3
Government integrity 22.8 39.2
Judicial effectiveness 22.8 31.3
Tax burden 81.9 80.9
Government spending 61.3 89.5
Fiscal health 94.4 96.9
Business freedom 51.4 70
Labor freedom 59.1 54.7
Monetary freedom 61.8 73.2
Trade freedom 69.4 79.8
Investment freedom 30 60
Financial freedom 30 50

Economic freedom comparison by year

Russia
Vietnam
1x
Year Economic freedom index
Russia Vietnam
2026 50.3 64.4
2025 51.6 65.2
2024 52 62.8
2023 53.8 61.8
2022 56.1 60.6
2021 61.5 61.7
2020 61 58.8
2019 58.9 55.3
2018 58.2 53.1
2017 57.1 52.4
2016 50.6 54
2015 52.1 51.7
2014 51.9 50.8
2013 51.1 51
2012 50.5 51.3
2011 50.5 51.6
2010 50.3 49.8
2009 50.8 51
2008 49.8 50.4
2007 52.2 49.8
2006 52.4 50.5
2005 51.3 48.1
2004 52.8 46.1
2003 50.8 46.2
2002 48.7 45.6
2001 49.8 44.3
2000 51.8 43.7
1999 54.5 42.7
1998 52.8 40.4
1997 48.6 38.6
1996 51.6 40.2
1995 51.1 41.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/russia/vietnam | CC BY

The Economic Freedom Index for Russia is 50.3, ranking 161/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Russia Vietnam
Services, % of GDP
57.5%
2024
42.4%
2024
Industry, % of GDP
30.7%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
2.74%
2024
11.9%
2024
GNI, Atlas method
$2.24T
2024
$454B
2024
GNI per capita, PPP
$46,780
2024
$15,850
2024
Total reserves including gold
$597B
2023
$83.1B
2024
Total reserves ranking
6/177
2023
30/177
2024
Net foreign direct investment
$9.37B
2024
-$19.6B
2024
Net inflows of foreign direct investment
-$9.35B
2024
$20.2B
2024
Net outflows of foreign direct investment
-$170M
2024
$600M
2024
Servicing debt to the IMF, % of GNI
2.65%
2024
7.29%
2024
Poverty at national poverty lines
12.1%
2020
4.2%
2022
Gross capital formation, % of GDP
26.3%
2024
30.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/russia/vietnam | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.