How Countries Measure Up

I use Nominal GDP, Nominal Per Capita GDP, Population, Land Area and Poverty Rank to track the relative prosperity of countries. I also use Government Debt to GDP, Tax Rates, Trade Balance, goods traded and Trading Partners.

The populations and economies of each country were determined by settlements of people determining that there was food and water available.  Beyond that, certain areas were preferred because they were natural trading areas. Many of today’s large cities are located near rivers and oceans because of trade. Many areas were settled because of their proximity to high demand minerals and agriculture.

Countries compete with each other for trade. Within countries, provinces and states compete with each other.

The largest countries in terms of land area are Russia, Canada, US, China, Brazil and Australia with land area greater than 2.9 million square miles. The next largest countries are India, Argentina and Kazakhstan with land area over 1 million square miles.

Roughly half of Russian and Canada are in permafrost and can’t grow crops, but it can be mined for minerals, oil and natural gas. The population of Canada at 37 million and Russia at 144 million are low compared to their land mass.

GDP measures economic attainment from production and resources.

The US has the largest Nominal GDP at $20.5 trillion and a population of 329 million and a land area of 3.8 million square miles and a Nominal Per Capita GDP of $62,152. 

China has the second largest GDP at $13.5 trillion with a land area of 3.8 million square miles, but has a population of 1.4 billion and a Nominal Per Capita GDP of $10,900.

Japan has the third largest GDP at $5.07 trillion with a land area of 145,894 square miles, a population of 127 million and a Nominal Per Capita GDP of $42,271.

India has the 7^th largest economy at $2.9 trillion with a land area of 1 million square miles, but has a population of 1.35 billion and a Nominal Per Capita GDP of $2,305. Most if India’s population works in agriculture.

There are several countries with a small land area, but they have a relatively high GDP. These are usually historic trading centers in well managed countries.

Norb Leahy, Dunwoody GA Tea Party Leader