Post-Soviet region: How per capita GDP has shifted over the last three decades

By 2025, neighboring Kazakhstan surpassed Russia in per capita GDP. According to the latest data from the International Monetary Fund (IMF), Kazakhstan’s per capita GDP reached $14,770, compared to $14,260 in Russia.

The Baltic states continue to lead the post-Soviet space in per capita GDP. In Estonia, the figure stands at $32,760, in Lithuania – $30,840, and in Latvia – $24,370.

Growth dynamics of per capita GDP in Estonia (green), Lithuania (black), and Latvia (red). Source: IMF

Over the past 34 years, the combined GDP of former Soviet states has grown more than fourfold. In 1990, the USSR economy was valued by the UN at $791 billion at current prices of the time. By 2025, the combined GDP of the 15 former republics amounts to $3.25 trillion.

Although the Soviet Union was the world’s third-largest economy by nominal size before its dissolution, most historians and economists emphasize that growth rates steadily declined between the 1960s and 1980s. After independence, however, the pace of development of sovereign states accelerated significantly.

Growth by country

Between 1995 and 2025, the biggest per capita GDP growth was recorded in the South Caucasus countries – Azerbaijan (24-fold), Georgia (23-fold), and Armenia (22-fold). Moldova also showed significant progress with a 17-fold increase.

The Baltic states, which joined the European Union, experienced sharp rises as well: Lithuania – 16.5-fold, Estonia – 12-fold, and Latvia – 11.6-fold.

In Central Asia and Eastern Europe, per capita GDP grew in Tajikistan – 14.2-fold, Kazakhstan – 14-fold, Ukraine and Kyrgyzstan – 8.3-fold, and Belarus – 7.6-fold.

The lowest growth figures were observed in Turkmenistan (5.8-fold), Uzbekistan (6.2-fold), and Russia (6.3-fold).

Demographic shifts

When analyzing per capita GDP changes, population growth or decline is also a crucial factor. In the post-Soviet region, Azerbaijan has shown particularly positive dynamics, with its population increasing by nearly 34 percent over the past three decades. By contrast, Georgia (–23 percent) and Armenia (–6.7 percent) have seen notable declines.

The Baltic countries have experienced similar trends: Latvia (–25.9 percent), Lithuania (–20 percent), and Estonia (–5.4 percent). Moldova (–31.2 percent), Ukraine (–19.7 percent), Belarus (–10.8 percent), and Russia (–1.6 percent) also recorded population declines between 1995 and 2025.

Meanwhile, all Central Asian states witnessed substantial population growth: Tajikistan (+81.5 percent), Uzbekistan (+79.5 percent), Kyrgyzstan (+60.6 percent), Turkmenistan (+40.6 percent), and Kazakhstan (+22.2 percent).

Looking at the overall picture, Uzbekistan’s GDP increased 10.4-fold over the past 30 years – a stronger performance compared to Russia, Turkmenistan, Ukraine, Belarus, and Latvia. Azerbaijan achieved the best result among the former Soviet republics, with a 32.6-fold increase.