CIS, Baltics and Georgia GDP 2018

Updated: 29 October, 2021 seen 2,461

Recently I wrote an article about CIS, Baltic states and Georgia GDP 2012. Now I'm willing to take a look in future, and to see what might look like economies of former Soviet Union republics in 2018.

Why 2018? I'm using IMF forecasts, and right now closest future forecasts available from IMF are till 2018. 

According to data provided by IMF in 2018 greatest by GDP values in CIS, Baltic states and Georgia will be Russia, accounting $3 trillions (up from $2 trillions) , while the smallest will be Kyrgyzstan with GDP $10.7 billions (up from $6.7 billions)

Compared by 2012 and 2018, placement will not change dramatically. Russia will stay leading economy, followed by Kazakhstan and Ukraine. Exceptions will be Uzbekistan and Turkmenistan which will outperform Baltic states, like Latvia and Lithuania by GDP.

Lets take a look in percentage view:

Although Russian economy will soar, by reaching $3 trillions by end of the 2018, the percentage of overall GDP role will decrease by some 2%, as in 2012 it was 73.2%. Kazakhstan will soar as well by reaching $397 billions by end of 2018 (up from $201 billion in 2012) as resulting will increase the role of Kazakhstan to 9.3% (up from 7.4), Ukraine's GDP will rise slowly, as a result it's role from overall chart will decrease from 6.5% to 5.6%. All other countries together will generate 14.4% (up from 12.9% in 2012).

Now let's see, what will be the GDP per capita level in those countries by end of 2018.

Highest level of GDP per capita, according to IMF by end of 2018 will be in Estonia, making $26,190, while the lowest will be in Tajikistan, accounting in $1,633. In total making a gap between smallest and largest GDP per capita $24,557. Pretty impressive, huh?

Kazakhstan ahouldreach $23,630, while Russia $20,970. The 3rd largest economy of former Soviet Union - Ukraine will reach just $5,260.

In conclusion I would like to ask, which country first will reach $30,000 GDP per capita, will it be Estonia, maybe Kazakhstan? Will it happen by end of the decade - till 2020?