The United States ranks as the most competitive, however the Current Account Balance, and Balance of Trade are the worst of the 12 countries in this comparison.
Competitiveness 2
| COLOR CODING | |
|---|---|
| Green | Ranked first for statistic |
| Red | Ranked last for statistic |
| Organisation for Economic Co-operation and Development (OECD), and CIA World Factbook | |||||
|---|---|---|---|---|---|
| Industrial Production Index | Current Account Balance | Current Account Balance per Capita | Balance of Trade | Balance of Trade per Capita | |
| Australia | 111.0 | 50,097 | -336.34 | -44,861 | 1320.0 |
| Canada | 104.7 | -5,406 | -222.16 | -64,164 | -251.4 |
| Denmark | 131.1 | 35,969 | 1135.58 | 20,828 | 1260.8 |
| France | 98.3 | 10,598 | -62.35 | -50,388 | -1420.1 |
| Germany | 96.7 | 313,378 | 821.12 | 153,353 | 3431.6 |
| Italy | 105.0 | 64,383 | 184.16 | 36,490 | 736.1 |
| Japan | 96.0 | 196,461 | 301.30 | 9,273 | -75.7 |
| Netherlands | 105.8 | 72,743 | 1525.52 | 103,551 | 4748.9 |
| Norway | 101.0 | 65,697 | 2487.57 | 30,696 | 6761.2 |
| Sweden | 116.3 | 39,952 | 339.74 | 24,476 | -485.9 |
| United Kingdom | 111.1 | -46,913 | -526.63 | 52,820 | -2903.9 |
| United States | 103.0 | -846,354 | -382.14 | -988,061 | -2669.9 |
Sources:
Industrial Production Index
Industrial production refers to the output of industrial establishments and covers sectors such as mining, manufacturing, electricity, gas and steam and air-conditioning. This indicator is measured in an index based on a reference period that expresses change in the volume of production output. 2015 = 100. Reflects Total Production Index: Manufacturing and Construction. Collected March 7, 2023.
Current Account Balance
The current account balance of payments is a record of a country’s international transactions with the rest of the world. The current account includes all the transactions (other than those in financial items) that involve economic values and occur between resident and non-resident entities. Also covered are offsets to current economic values provided or acquired without a quid pro quo. This indicator is measured in million USD and percentage of GDP. OECD (2023), Current account balance (indicator). doi: 10.1787/b2f74f3a-en (Accessed on 07 March 2023)
Current Account Balance per Capita
From the CIA World Factbook: “Current account balance compares a country’s net trade in goods and services, plus net earnings, and net transfer payments to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis.”
Balance of Trade
Trade in goods and services is defined as the transactions in goods and services between residents and non-residents. It is measured in million USD at 2015 constant prices and PPPs, as percentage of GDP for net trade, and also in annual growth for exports and imports. All OECD countries compile their data according to the 2008 System of National Accounts (SNA). March, 2023.
Balance of Trade per Capita
Values calculated using world population data from the CIA World Factbook.