United States economic performance is strong, but tax revenues are much lower than the advanced democracies.

ECONOMIC PERFORMANCE 1

COLOR CODING
GreenRanked first for statistic
RedRanked last for statistic
 GDP per capita as % of US GDPGDP per hour worked as % of US GDPTax revenue as % of GDPTax revenue per capitaGovernment debt as a % of GDPInflation (CPI), 2015 base year
Australia93.086.229.5$     18,87471
Canada80.478.533.2$     18,251113125.5
Denmark101.0113.941.9$      28,36635117.3
France74.194.846.1$      18,705117118.2
Germany86.399.339.3$      19,12765123.7
Italy71.880.942.9$      14,899148119.5
Japan60.858.434.1$      13,056254108.8
Netherlands96.6100.938.0$      21,63654126.4
Norway160.9176.944.3$      47,02142131.8
Sweden88.4104.541.3$      23,29953131.0
United Kingdom73.683.935.3$     15,991104130.0
United States100.0100.027.7$      21,118144129.5

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.

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.