Economic Performance Statistics by Country

Color Coding Key
GREEN Ranked 1st for statistic
RED Ranked last for statistic

The United States' economic performance compared to other countries is strong in terms of GDP per capita as one might would guess; however, tax revenue as a percent of GDP is much lower in relation to the other countries studied.

 Entrepreneurship
GDP per capita as % of US GDP GDP per hour worked as % of US GDP Tax revenue as percent of GDP Tax revenue per capita Government debt as a percent of GDP Gross savings as a percent of GNI Economy by rank Social benefits and transfers Fear of failure TEA Necessity driven TEA
Australia 92 88 25.6 $14,752 11.0 25 10 18.42      
Canada 84 84 31.0 $16,057 36.1 21 4 24.75      
Denmark 85 97 48.1 $28,813 39.6 23 23 37.59 39 5 8
France 73 97 44.2 $19,404 67.4 17 22 36.01 43 5 18
Germany 82 94 37.1 $16,442 44.4 24 9 28.67 42 5 22
Italy 67 76 42.9 $15,966 109.0 17 52 31.75 58 4 16
Japan 71 65 27.6 $7,678 183.5 22 5 26.35 53 4 21
Netherlands 87 98 38.7 $18,178 51.8 25 20 29.63 30 10 8
Norway 132 141 43.2 $42,418 26.1 37 1 27.80 39 7 7
Sweden 87 89 44.5 $25,361 33.8 26 6 33.77 33 6 7
United Kingdom 74 78 35.5 $13,977 85.5 11 28 29.56 36 9 18
United States 100 100 25.1 $12,088 61.3 12 24 21.83 32 13 21

See also: Competitiveness 1 and Competitiveness 2

Sources:

View OECD statistics

GDP per capita as percent of US GDP View Graphical Data

Where US GDP per capita is 100%, for August 2012 (updates available monthly).

GDP per hour worked as percent of US GDP View Graphical Data

Where US GDP per hour worked is 100%, for August 2012 (updates available monthly). Adjusted for Purchasing Power Parity to account for distortions caused by exchange rates. Norway's productivity is helped by oil revenues.

Tax revenue as percent of GDP View Graphical Data

For most recent year (2010-11). See also Citizens for Tax Justice, June 30th, 2011.

Tax revenue per capita View Graphical Data

For most recent year (2010-11).

Government debt as percent of GDP View Graphical Data

For 2010.

View World Bank statisticsView Graphical Data

World Development Indicators Database by World Bank, for most recent year (2011-12).

View Legatum Prosperity Index

Economic performance by rank. Legatum Institute, for 2013. Purportedly attempts to answer, "Which factors in a nation's economy are associated with higher levels of per capita income? Which economic conditions are linked to higher levels of wellbeing?" Rank established by the following wealth indicators (ordered by weight): capital per worker, market size, high-tech exports, gross domestic savings, unemployment, non-performing loans, inflation, and foreiegn direct investment size and vulnerability; and the following well-being indicators (ordered by weight): satisfaction with living standard, inflation, adequate food and shelter, perceived job ability, gross domestic savings, expectations of the economy, employed, confidence in financial institutions, and 5 year rate of growth.

View OECD statatisticsView Graphical Data

Social benefits and transfers in kind as a percent of GDP, for most recent year (2010-2012).

Visit GEM site to download reportView Graphical Data

Global Entrepreneurship Monitor Global Report 2012

Fear of failure View Graphical Data

Extent to which the potential entrepreneur fears the risk to start a business is too great

TEA View Graphical Data

Total Early-Stage Entrepreneurial Activity: According to the Global Enterpreneurship Monitor report, this is the keystone indicator; total people between the age of 18 and 64 who plan on or already are running a new business

Necessity driven TEA View Graphical Data

Portion of TEA that is founded on the need to start a business because the individual feels there aren't any other options to fulfill in the economy, i.e. lack of job market

Notes:

"Europe's Secret Success," Paul Krugman

May 25, 2014. Europe, and Northern European nations in particular, are very successful at job creation. French adults in their prime working years (25 to 54) are substantially more likely to have jobs than their U.S. counterparts. Sweden and the Netherlands do even better. "...on the core issue of providing jobs for people who really should be working, at this point old Europe is beating us hands down."

"The Comeback Continent" Paul Krugman

January 11, 2008

  • GDP of EU comparable to U.S.
  • Euro almost important as the dollar
  • European Central Bank and the Fed govern equally
  • Since 2000 employment in Europe has grown a bit faster than the U.S.
  • Europeans spend less on health care even with universal coverage

"Healthy Canadian Banks" Nicolas Schmidt

April 7, 2009. American, English, and Swiss banks have fallen behind the Canadian financial system due largely to Canada's conservative limits as well as their hesitancy to accept mergers in order to avoid the risks of joining larger, global banks.

Needed indicators, unable to find on web:

Tax burden less transfers

Tax revenue as a percent of GDP is a poor indicator of the burden of government on the economy because so much tax is not really government income, but is immediately transferred back to households, and is household income or provides for health care that would otherwise have to come from household income. Transfers include social security child payments, Supplementary Security Income, Temporary Aid to Needy Families, general assistance, Food Stamps, child care aid, housing aid, and health care payments. The important question for economic performance is, how does the disincentive to work caused by taxes and transfers balance against increased social welfare and productivity benefits from some transfers?

Ownership of national debt

Percents of debt owned by foreign countries(sovereign funds) and private foreign owners

Per capita national debt owed to foreigners

Change in national debt

Percent increase/decrease over a three to six year period.

(In US debt from 2001 to 2008 increased by 45 percent.)

Unemployment policies

Seems to require off-setting indices, one for the cost of hiring a new employee, one for unemployment benefits, one for job training effectiveness, one for work requirements, one for flexibility of employers to fire/discipline workers, which combine to balance equity and economic productivity.

Average household debt and average household savings

Annual employee turnover in manufacturing

Employers rating of employees for identification with company objectives

Percent of employees fired for cause

Percent of adults aged 25 to 54 employed