How does the USA examine with different international locations on socioeconomic indicators?
These six graphics present an outline of the financial system, demographics, healthcare, schooling and army spending as voters get able to solid their ballots on November 5.
Largest financial system on the earth
The US has the biggest financial system on the earth, with a gross home product (GDP) of roughly $27 trillion, in response to the World Bank. This positions it forward of different main economies, together with China ($17.8 trillion) and Germany ($4.5 trillion)
The US has a GDP per capita of $65,020 – roughly 4 instances the worldwide common, inserting it seventh on the earth.
The US Treasury has the best gold reserves on the earth, at 8,133 tonnes, valued at about $700bn. This quantity is greater than double that of Germany’s reserves, which stand at 3,352 tonnes, and 3 times as a lot as Italy’s 2,452 tonnes.
Whereas GDP displays a rustic’s general financial output, its gold reserves play a definite function within the monetary panorama by supporting financial coverage and influencing forex stability and commerce.
An ageing inhabitants
With a inhabitants of 335 million, the US is the third most populous nation on the earth, behind India (1.43 billion) and China (1.41 billion).
Nevertheless, the inhabitants progress fee has been steadily declining, and matched with an ageing inhabitants, presents financial and social challenges, similar to sustaining productiveness and supporting seniors.
The nation’s fertility rate is simply 1.84, indicating that the common girl is predicted to have fewer than two youngsters in her lifetime, which is beneath the worldwide common of two.4 and the alternative fee of two.1 wanted for a secure inhabitants with out migration.
The international locations with the best fertility charges are Niger (6.64), Angola (5.70) and the Democratic Republic of the Congo (5.49), whereas Taiwan (1.11), South Korea (1.12) and Singapore (1.17) have the bottom charges.
The common life expectancy within the US is 81 years, which is barely larger than the worldwide common of 75 years, however nonetheless decrease than that of most European and different developed international locations.
High quality of life
The US federal minimal wage has been $7.25 per hour since 2009.
Elevating the minimal wage is a key election concern, with greater than 80 % of US voters believing the present wage shouldn’t be sufficient for a good high quality of life, in response to Data for Progress, a progressive US suppose tank.
With a mean work week of 37-52 hours, the annual minimal wage within the US is about $15,080. That is about double the worldwide common of $6,293, however solely about half of what minimal wage employees make in international locations like Australia ($34,515), New Zealand ($33,487) and Luxembourg ($32,103).
Nevertheless, in the case of affordability, similar to shopping for a home, the US ranks among the many highest on the earth with a price-to-income ratio of 131.3. With 2015 as the bottom 12 months, which means that the common value of a house within the US has outpaced earnings progress by greater than 30 %.
Each US presidential candidates Kamala Harris and Donald Trump say they may introduce tax insurance policies to help first-time homebuyers.
World’s most costly healthcare
The US has the costliest healthcare prices on the earth, with the nation spending greater than $12,000 per capita every year.
The excessive prices for companies, drugs and insurance coverage premiums create boundaries to entry, particularly for probably the most weak, leaving many individuals uninsured or underinsured.
US authorities healthcare spending is 16.6 % of the nation’s GDP, about seven % larger than the worldwide common of seven.3 %.
Regardless of its comparatively excessive healthcare spending, the US’s Well being Index Rating is decrease than that of many different high-income international locations. The Well being Index Rating measures how wholesome individuals are and their entry to healthcare companies.
Harris is a powerful supporter of the Inexpensive Care Act (ACA), which goals to make well being companies inexpensive to extra People. She has pledged to develop this 14-year-old laws, however Trump tried to repeal it many instances throughout his 2017-2021 tenure as US president.
Schooling rankings
In line with the Education Data Initiative, public schooling spending within the US falls wanting world benchmarks and lags behind financial progress.
The US spends round 6.1 % of its GDP on schooling, which is larger than the worldwide common of 4.7 %.
Relating to efficiency in arithmetic, science, and studying, the US scored a complete of 1,468 factors within the 2022 Programme for Worldwide Scholar Evaluation (PISA).
This rating exceeds the worldwide common of 1,320 factors, however it falls quick in comparison with a number of Asian international locations, together with Singapore, which scored 1,679 factors, China at 1,605 factors and Japan at 1,599 factors.
Navy expenditure and energy
The US spends extra on its army than the following 10 highest-spending international locations mixed, accounting for 39 % of all world army expenditures.
At practically $900bn, as a share of GDP, US army expenditure is 3.45 %, properly above the worldwide common of two %.
The US is ranked primary out of 145 international locations by the World Firepower Index, which measures a nation’s battle capabilities throughout land, sea and air.
