According to estimates based on official country data published by the World Bank and the IMF, Russia's gross domestic product was $5.51 trillion in PPP terms at the end of last year. The figure is 38% larger than the official estimate of $3.993 trillion, the report noted.

It also showed that the Russian economy was ahead of Germany's when measured in purchasing-power parity, with the latter's GDP at $5 trillion.

China topped the list as the world's biggest economy ($31 trillion), followed by the US, India, and Japan. The top 10 also included Indonesia, Brazil, and Türkiye.