3 October, 2022 seen 21In 2023 minimum wage is set to increase in all Baltic states. Estonia will have a minimum wage of EUR 725; Latvia - EUR…
Soviet Union once was a mighty empire that threatened all the rest world, it has been already 24 years since Soviet Union doesn't exist any more, what's left - free market economies stretching from Baltic sea to Bering straight. In total there are 15 FSU republics in over days.
Some of them (Baltic states) has found a new ally with EU, other ones are fighting each other (Russia vs Ukraine, Azerbaijan vs Armenia over Nagorno-Karabakh). Other has already emerging in a new Geopolitical Union, called Eurasian Union (Russia, Kazakhstan, Belarus and Armenia)
Those last 24 years, have been tough for each and other country, some are digging black gold out of their surface (Russia, Kazakhstan, Azerbaijan, Turkmenistan), some are cheap labor force for Russia's emerging economy (Tajikistan, Uzbekistan).
For me it's always interesting to compare - how each of the republics looks against others by macroeconomic data, this time I'm comparing GDP per capita in FSU (2013). You might find interesting my comparison of FSU by GDP in 2012 as well.
GDP per capita in those Former Soviet Union countries in 2013
|2012 $||2013 $||Change $||Growth %|
As we can see from Table above - Baltic States leads the Table, with Russia being close to them. For now, the clear leader in race for higher GDP per capita is Estonia with $18.478 thousands per capita in 2013, while following Lithuania, Russia and Latvia, stays behind for about 25% less GDP per capita.
Another natural resources rich countries - Kazakhstan, Turkmenistan and Azerbaijan seems are racing up for higher GDP per capita in their countries.
Last Dictatorship in Europe - Belarus - which is landlocked country, affiliated with Russia, and doesn't how natural resources like oil or gas, seems is balancing it's economy in middle between those who have affiliated with EU, has oil and gas, and other poorest countries.
In 2013, GDP per capita growth rate in Belarus was about 11%.
From the rest - it's hard to tell, which is the poorest in Former Soviet Union Space - they all seems so equal - Ukraine, Georgia, Moldova... Ukraine has a lot of internal problems, about which I wont discuss much. But together with Moldova and Georgia they have signed some association agreement with EU, which might help those countries to give some economical boost. Will see, how it's going to happen.
Another country I would like to bold - Armenia - tiny nation, landlocked and blocked from side of Turkey and Azerbaijan, seeks closer ties with Russia, and plans to join Eurasian Union (what's else them to do? Azerbaijan is getting stronger and stronger each year - and it's just a question of time, when Azerbaijan could take Nagorno-Kharabakh away from Armenia, so Armenian masterminds are desperate to find an exis from this deadly dead-end or to give Nagorno-Kharabakh back to Azerbaijan (but I doubt that))
Central Asian countries, Uzbekistan, Kyrgyzstan and Tajikistan has the less GDP per capita in former Soviet Union space.
The good news - GDP per capita raised in each of the Former Soviet Countries in 2013, so despite the modest results, we should be happy to see any economical boost - for Central Asian countries it might be deadly necessity.
Last time I compared those economies - I asked a question - which of the FSU countries first will achieve $20 thousands per Capita, will it be Estonia? Maybe Kazakhstan?
For now it seems - that it will be Estonia, so my question this time will sound like this - Will Estonia reach $20 thousand per capita this year (2014)?