Share sensitive information only on official, secure websites. During 1980, the US GDP was $2.9 trillion, whereas the EU GDP was $3.8 trillion. The US population is less than two-third of the EU total population. Dobson, A. P. (2… France has 7.0% land area of that of the US. 95.2% Ranked 116th. The US GDP during 1980 was $2,857 billion and GDP per capita was $12,553. Poland is ranked sixth on GDP PPP, ahead of Netherlands and Sweden. (2002, March). The gap between the US and the EU GDP PPP per capita in 2018 is $19,398. If we take the UK GDP of $2.8 trillion out of the EU, then the EU GDP would get reduced to $16 trillion. According to the Stockholm International Peace Research Institute, U.S. military expenditures in 2015 were 3.3 percent of GDP, and Russia’s were 5 percent of its GDP. 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. Let’s compare its economy with that of Russia, the world’s largest country by area. Presidential Studies Quarterly,27(3), 451-466. 2. Economic Growth, Energy, and Environment; When were the economies of the USSR and the US most equal. Spain, Sweden, Germany, and Poland have 5.5%, 4.5%, 3.8%, and 3.4% of the land area of the US respectively. The following chart shows the population of the US and the EU from 1980 to 2018. The US land area is over 14-times more than the land area of France – the EU largest country by land area. ... Economic Growth, Energy, and Environment. The US population is 4-times more than Germany – the EU most populated country. Nominally a union of multiple national Soviet republics, it was a one-party state (until 1990) governed by the Communist Party, with Moscow as its capital in its largest republic, the Russian SFSR.Other major urban centers were … In this article, we will compare the United States (US) Gross Domestic Product (GDP) numbers with that of the European Union (EU) from 1980 to 2018. CIA (1977) Estimated Soviet Defense Spending in Rubles Daggett, S., & Belasco, A. In 1913, by global standards, Russia was an average economy – far behind the US, although far ahead of Upper Volta. The following chart shows the GDP PPP per capita of the US, the EU, and the countries in the EU for the year 2018. 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. While the central command economy of the Soviet Union … For much of the 20 th Century, the Soviet Union rivaled the United States in political, military and economic strength. This video was made possible by our Patreon community! But when controlling for those variables, the predicted growth for the Soviet Union jumps to 4.7%. 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. 1. Following World War II, the Soviet Union emerged as a global superpower to rival the United States. The EU GDP during 1980 was $3,804 billion and GDP per capita was $8,799. … We won’t be presenting the forecast for 2019 and beyond because the EU numbers would change after Brexit (Britain Exit from EU). Farm to factory: a reinterpretation of the Soviet industrial revolution. The top-5 countries in the EU by GDP – Germany, the UK, France, Italy, and Spain – account for 70% of the EU total GDP in 2018. 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. 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