The U.S. Economy's Output is 20% of the World's Total:
The economic power of the United States is matched by no other countries around the world. Total output for the U.S. economy in 2007 was $13.86 trillion, one fifth of the world's total output. It is also the largest single country economy in the world, although the EU is larger at $14.44 trillion. China is the second largest, at $7.04 trillion and Japan at $4.3 trillion. Please note: these comparisons are made using purchasing power parity. (Source: CIA World Factbook, Rank Order GDP)In fact, the GDP of most countries are the same as many U.S. states. To put these numbers in perspective, check out this map, which shows which country has the same GDP as each state.
The U.S. Economy Provides One of the Highest Standards of Living in the World:
The power of the U.S. economy is seen in its GDP per capita, which was $46,000 in 2007. Although it is the world's largest economy, the EU's GDP per capita was only $32,900, while Japan's was $33,800. China's GDP per capita was only $5,300 because they have four times the number of people as does the U.S. (Source: CIA World Factbook, Rank Order GDP per Capita)Think of the incredible economic power it takes to both be the largest economy in the world while producing one of the highest standards of living per person. While other countries, such as Norway and Bermuda, have higher GDP per capita, they aren't also a driver of the global economic engine that the U.S. is.
