United States economic performance is strong, but tax revenues are much lower than the advanced democracies.
ECONOMIC PERFORMANCE 1
| COLOR CODING | |
|---|---|
| Green | Ranked first for statistic |
| Red | Ranked last for statistic |
| GDP per capita as % of US GDP | GDP per hour worked as % of USD | Tax revenue as % of GDP 2023 | Tax revenue per capita | Government debt as a % of GDP 2023 | Inflation (CPI), increase in one year | |
|---|---|---|---|---|---|---|
| Australia | 93.3 | * | * | $ 18,874 | 71 | 3% |
| Canada | 81.7 | 75.36 | 34.78 | $ 18,251 | 113 | 2% |
| Denmark | 99.0 | 106.46 | 43.39 | $ 28,366 | 35 | 1% |
| France | 72.1 | 90.86 | 43.81 | $ 18,705 | 117 | 2% |
| Germany | 89.0 | 98.39 | 38.06 | $ 19,127 | 65 | 2% |
| Italy | 72.3 | 79.34 | 42.84 | $ 14,899 | 148 | 1% |
| Japan | 61.0 | * | * | $ 13,056 | 254 | * |
| Netherlands | 99.2 | 100.35 | 38.53 | $ 21,636 | 54 | 3% |
| Norway | 158.3 | 133.94 | 41.44 | $ 47,021 | 42 | 3% |
| Sweden | 84.3 | 95.46 | 41.36 | $ 23,299 | 53 | 3% |
| United Kingdom | 75.3 | 82.59 | 35.34 | $ 15,991 | 104 | 3% |
| United States | 100.0 | 100.0 | 25.18 | $ 21,118 | 144 | 3% |
SOURCE:
GDP per capita as percent of US GDP, 2022: OECD
Gross domestic product (GDP) per capita is a financial metric that breaks down a country’s economic output per person and is calculated by dividing the GDP of a nation by its population. USA = 100. Updated 10/17/2024
GDP per hour worked as percent of US GDP, 2022: OECD
Tax revenue as percent of GDP: OECD
All data from 2022 except Australia and Japan (2021).
Tax revenue per capita
USD. All data from 2022 except Australia and Japan (2021).
Government debt as percent of GDP, 2022: OECD
Inflation: OECD
Total consumer price index for eight years, from 2015 to 2023, with 2015 as base year (2015=100). No data for Australia.
Notes
“The Rich Spend Differently From You and Me” Paul Krugman
March 5, 2024.
New York Times. Americans seem to spend their money differently and different groups might be facing different rates of inflation.
“For Whom the Economy Grows” Paul Krugman
August 30, 2018.
New York Times. The GDP by itself isn’t an accurate measure of economic success, as discussed by Krugman. There is a disconnect between overall and individual growth that should be taken into account.
Page updated on 3/8/2024.