As the graph below shows, over the past 57 years this indicator reached a maximum value of 6.31 in 1984 and a minimum value of -3.39 in 2009. The following chart shows the increase in GDP and GDP per capita of the US and the EU from 1980 to 2018. The following chart shows the real GDP growth of the US and the EU from 1980 to 2018. The US had a total population of 228 million in 1980. The US GDP per capita is 1.7-times of that of the EU in 2018 and is more than the GDP per capita of the top-10 EU countries by GDP. Real GDP is important because without canceling out the effects of inflation, the GDP could appear to grow, when really all that's happened is an increase in prices. IMF forecasts the EU GDP to reach $18,769 billion and GDP per capita to reach $36,736 by 2018. Growth in GDP per capita productivity and ULC. GDP per capita growth (annual %) GDP per capita (constant LCU) GDP per capita (constant 2010 US$) GDP per capita, PPP (current international $) GDP per capita (current LCU) GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. Search Getting Started Data by theme; Popular queries; Reset Productivity. The US land area is over 14-times more than the land area of France – the EU largest country by land area. GDP per capita in the USA at the eve of independence was still below $2,000, adjusted for inflation and measured in prices of 2011 it is estimated to $1,883. The EU has a total land area of 4.3 million sq km. Productivity and ULC – Annual, Total Economy. The gap between the US and the EU GDP per capita reached its maximum in 2017. is higher than 3rd ranked country Japan (nominal) and India (PPP) by a huge margin. IMF forecasts the US GDP PPP per capita to reach $62,518 in 2018, whereas the EU GDP PPP per capita would reach $43,120. Level of GDP per capita and productivity. The EU GDP during 1980 was $3,804 billion and GDP per capita was $8,799. Note: This page was last updated on December 28, 2019, Home | About | Search | Site Map | Blog | Indicadores en Español. We will use the publicly available data from IMF (See notes at the bottom). low of -2.54% in 2009. at 72th rank. Now, the US is ahead of the EU. The current base year is 2012. in competition to become first. IMF forecasts US GDP to reach $20,513 billion and GDP per capita to reach $62,518 by 2018. The top five countries by land area in the EU are France, Spain, Sweden, Germany, and Poland. English | Français. The following chart shows the GDP of the US and the EU from 1980 to 2018. Economy of China is Int. Total employment. Acc to estimates The US GDP PPP per capita during 1980 was $12,533. DataBank. US GDP Per Capita table by year, historic, and current data. by World Bank, China gdp was approx 11% of US in 1960 but in 2017 it is 63%. Their GDP have been growing at a similar pace. Current US GDP Per Capita is 59,200.92. Definition: Annual percentage growth rate of GDP per capita based on constant local currency. The following chart shows the population of the US and the EU from 1980 to 2018. As a result, the 2019 U.S. GDP per capita was $65,240. IMF forecasts that the US GDP would reach $20.5 trillion and the EU GDP would reach $18.8 trillion by the end of 2018. Since 2008, the real GDP growth of the US and the EU has remained less than 3%. 2017, China grew by more than 10% in 22 years. This means that the output per person in one year in the past was less than the output of the average person in two weeks today. The following chart shows the real GDP growth of the US, the EU, and the countries in the EU for the year 2018. Spain, Sweden, Germany, and Poland have 5.5%, 4.5%, 3.8%, and 3.4% of the land area of the US respectively. Data Source: International Monetary Fund (IMF) World Economic Outlook (WEO) database, October 2018 edition. This implies an increase of 5-times in the EU GDP and 4-times in the EU GDP per capita from 1980 to 2018.The US GDP during 1980 was $2,857 billion and GDP per capita was $12,553. The following chart shows the GDP PPP per capita of the US and the EU from 1980 to 2018. GDP of both country The value for GDP per capita growth (annual %) in United States was 2.29 as of 2018. GDP per capita > Constant 2000 US$: GDP per capita is gross domestic product divided by midyear population. As per projections by IMF for 2019, United States is leading by $7,128 bn or 1.50 times on exchange rate basis. However, post Brexit, the US will take over the EU on GDP PPP as well. This page provides - United States GDP … The US has a total land area of 9.1 million sq km. sector. $5,987 billion or 1.28x of US on purchasing power parity basis. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Before comparing GDP per capita, we will compare the population of the US and the EU. GDP growth rate was negative in eight years for US. The BEA uses it to calculate the GDP growth rate and GDP per capita. The US GDP during 1980 was $2,857 billion and GDP per capita was $12,553. The gap between the EU and the US population has decreased from 205 million in 1980 to 183 million in 2018. This implies an increase of 5-times in the EU GDP and 4-times in the EU GDP per capita from 1980 to 2018. The US population is 4-times more than Germany – the EU most populated country. The following chart shows the land area of the US, the EU, and the countries in the EU. 34.27% of total world's GDP in nominal and PPP China attains maximum gdp growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. largest economies of the world in both Nominal and PPP method. The Gross Domestic Product per capita in the United States was last recorded at 55809 US dollars in 2019. Sorry, your blog cannot share posts by email. Capital productivity. Powered by .Stat technology | © OECD. Growth in capital input. United States reached an all time high of 7.24% in 1984 and a record low of -2.54% in 2009. The EU had a total population of 432 million in 1980. US Real GDP Per Capita table by year, historic, and current data. The EU GDP during 1980 was $3,804 billion and GDP per capita was $8,799. The gap between the US and the EU GDP PPP per capita in 2018 is $19,398. Contributions to GDP growth. China showed negative growth in four years. The combined land area of EU countries is 47.5% of that of the US. years. At that time, the EU GDP per capita was $8,799. Because the GDP is divided by the total number of workers, the GDP per capita very closely reflects the ‘average’ revenue per person in the economy. During period 1961 to 2017, China grew by more than 10% in 22 years. U.S. gross domestic product (GDP) by year is a good overview of economic growth in the United States. Per capita GDP is a global measure for gauging the prosperity of nations and is used by economists, along with GDP, to analyze the prosperity of a country based on its economic growth. The following chart shows the GDP PPP of the US and the EU from 1980 to 2018. Due to vast population of China, more than 4 times of US's population, difference between these two country is The BEA uses it to calculate the GDP growth rate and GDP per capita. As the graph below shows, over the past 57 years this indicator reached a maximum value of 6.31 in 1984 and a minimum value of -3.39 in 2009. Source: World Bank national accounts data, and OECD National Accounts data files. The GDP per Capita in the United States is equivalent to 442 percent of the world's average. The GDP PPP per capita gap continues to increase. IMF forecasts US GDP to reach $20,513 billion and GDP per capita to reach $62,518 by 2018. The EU has been ahead of the US by one to two trillion dollars on GDP PPP. The following chart shows the year 2018 GDP of the US, the EU, and the countries in the EU. The US land area is double than that of the EU total land area. As GDP grows it is assumed that everyone in the chain will benefit and the growth will have a trickledown effect on the population, thus improving standard of living. 2. Per capita income of United States is 6.38 and 3.32 times greater Post Brexit, it will be difficult for the EU to catch up with the US on GDP. IMF forecasts the EU GDP to reach $18,769 billion and GDP per capita to reach $36,736 by 2018. Level of GDP per capita and productivity. GDP per capita is gross domestic product divided by midyear population. very high in terms of per capita income. The US population increased by 100 million, whereas the EU population increased by 79 million. Current US Real GDP Per … United States and China are the two Therefore, only these two are The US GDP per capita during 1980 was $12,533. IMF forecasts that the US GDP PPP would reach $20.5 trillion and the EU GDP PPP would reach $22 trillion by the end of 2018. Online tool for visualization and analysis. The EU has always been behind the US on GDP per capita. IMF forecasts the US GDP per capita to reach $62,518 in 2018, whereas the EU GDP per capita would reach $36,736. The following chart shows the GDP per capita of the US, the EU, and the countries in the EU for the year 2018. During 1980, the US GDP on a Purchasing Power Parity (GDP PPP) basis was $2.9 trillion, whereas the EU GDP PPP was $4 trillion. All Countries and Economies. The US real GDP growth is more than that of the EU top countries (by GDP), despite the fact that the US GDP is much higher.

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