CIS GDP grew 6-fold in 10 years

The overall GDP of the CIS countries increased six-fold over the past 10 years, according to a study conducted by the World Organization of Creditors (WOC), the press-service Business Center for Economic Development of the CIS reports. The results of the study were presented on Friday at the International Economic Forum of the CIS.

The study by the WOC considered the investment potential of the CIS in comparison with the five largest trade and economic blocs of the world: the European Union (EU), the Asia-Pacific Agreement (APTA), the North American Free Trade Area (NAFTA), the South American Common Market (MERCOSUR) and the Cooperation Council of Arab Gulf States.

According to the dynamics of GDP growth, in 10 years the CIS economy grew more than 6-fold and in the Asian economy 4-fold, while in developed countries it did not even double. “The crisis has brought about certain changes, but indexes in Asia and Latin America are already higher than in 2008, and everyone else is close to returning to the pre-crisis levels," says the WOC report.