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Country vs country: India and United States compared: Economy

Author: Edsel.G

Author: Edsel.G

<h1>The economy of the United States is by far the biggest in the world. China is said to be on track to surpass the economic supremacy of the US in a decade or two, but at present, the economy of the latter is bigger than the economies of the next three economic giants combined. Many of the world’s largest companies are based in the US, and contrary to popular opinion, in terms of manufacturing, the US is still very dominant (a fifth of the world’s manufacturing output come from the US). The US, however, has been largely affected by the global financial crisis which started in 2007. While signs of recovery are everywhere, the full capabilities of the country are still to be reached. </h2>

<h1>India’s economy is among the biggest in the world (it is the second biggest in Asia, recently surpassing Japan). Like that of the US, India has a mixed economy where government-owned and private businesses are the primary drivers. Like most developed countries, India has a highly diversified market and trades with many countries for its imports and exports. However, while the economy continues to grow despite the current global financial instability, the wealth distribution in the country is far from balanced. Essentially, the gap between the rich and the poor has not at all lessened despite India’s vast treasury. </h2>

Definitions

  • Companies > Market capitalization of listed companies > % of GDP: Market capitalization of listed companies (% of GDP). Market capitalization (also known as market value) is the share price times the number of shares outstanding. Listed domestic companies are the domestically incorporated companies listed on the country's stock exchanges at the end of the year. Listed companies does not include investment companies, mutual funds, or other collective investment vehicles.
  • Companies > Market capitalization of listed companies > Current US$, % of GDP: Market capitalization of listed companies (current US$). Market capitalization (also known as market value) is the share price times the number of shares outstanding. Listed domestic companies are the domestically incorporated companies listed on the country's stock exchanges at the end of the year. Listed companies does not include investment companies, mutual funds, or other collective investment vehicles. Data are in current U.S. dollars. Figures expressed as a proportion of GDP for the same year
  • Debt > External: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services.
  • Debt > External per capita: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services. Figures expressed per capita for the same year.
  • GDP: GDP at purchaser's prices 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. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition, by end use > Household consumption: This entry is derived from Economy > GDP > Composition, by end use, which shows who does the spending in an economy: consumers, businesses, government, and foreigners. The distribution gives the percentage contribution to total GDP of household consumption, government consumption, investment in fixed capital, investment in inventories, exports of goods and services, and imports of goods and services, and will total 100 percent of GDP if the data are complete.
    household consumption consists of expenditures by resident households, and by nonprofit institutions that serve households, on goods and services that are consumed by individuals. This includes consumption of both domestically produced and foreign goods and services.
    government consumption consists of government expenditures on goods and services. These figures exclude government transfer payments, such as interest on debt, unemployment, and social security, since such payments are not made in exchange for goods and services supplied.
    investment in fixed capital consists of total business spending on fixed assets, such as factories, machinery, equipment, dwellings, and inventories of raw materials, which provide the basis for future production. It is measured gross of the depreciation of the assets, i.e., it includes investment that merely replaces worn-out or scrapped capital. Earlier editions of The World Factbook referred to this concept as Investment (gross fixed) and that data now have been moved to this new field.
    investment in inventories consists of net changes to the stock of outputs that are still held by the units that produce them, awaiting further sale to an end user, such as automobiles sitting on a dealer’s lot or groceries on the store shelves. This figure may be positive or negative. If the stock of unsold output increases during the relevant time period, investment in inventories is positive, but, if the stock of unsold goods declines, it will be negative. Investment in inventories normally is an early indicator of the state of the economy. If the stock of unsold items increases unexpectedly – because people stop buying - the economy may be entering a recession; but if the stock of unsold items falls - and goods "go flying off the shelves" - businesses normally try to replace those stocks, and the economy is likely to accelerate.
    exports of goods and services consist of sales, barter, gifts, or grants of goods and services from residents to nonresidents.
    imports of goods and ...
    Full definition
  • GDP per capita: GDP at purchaser's prices 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. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • GINI index: Gini index measures the extent to which the distribution of income (or, in some cases, consumption expenditure) among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Human Development Index: The human development index values in this table were calculated using a consistent methodology and consistent data series. They are not strictly comparable with those in earlier Human Development Reports.
  • Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Tourist arrivals: International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, but outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across countries. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries. The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival."
STAT India United States HISTORY
Companies > Market capitalization of listed companies > % of GDP 68.6%
Ranked 25th.
114.92%
Ranked 10th. 68% more than India

Companies > Market capitalization of listed companies > Current US$, % of GDP 68.6%
Ranked 24th.
119.02%
Ranked 8th. 74% more than India

Debt > External $378.9 billion
Ranked 27th.
$15.93 trillion
Ranked 1st. 42 times more than India

Debt > External per capita $142.7
Ranked 120th.
$40,666.44
Ranked 13th. 285 times more than India

GDP $1.84 trillion
Ranked 11th.
$15.68 trillion
Ranked 2nd. 9 times more than India

GDP > Composition, by end use > Household consumption 56.8%
Ranked 133th.
68.6%
Ranked 80th. 21% more than India

GDP per capita $1,489.24
Ranked 135th.
$49,965.27
Ranked 10th. 34 times more than India

GINI index 36.8
Ranked 11th.
40.81
Ranked 16th. 11% more than India

Gross National Income $477 billion
Ranked 12th.
$9.78 trillion
Ranked 1st. 21 times more than India

Human Development Index 0.602
Ranked 127th.
0.944
Ranked 10th. 57% more than India

Imports $503.5 billion
Ranked 8th.
$2.3 trillion
Ranked 1st. 5 times more than India

Population below poverty line 29.8%
Ranked 19th. 97% more than United States
15.1%
Ranked 34th.

Public debt 51.7% of GDP
Ranked 61st.
70% of GDP
Ranked 37th. 35% more than India

Stock of domestic credit $1.4 trillion
Ranked 13th.
$16.17 trillion
Ranked 1st. 12 times more than India

Tourist arrivals 5.37 million
Ranked 37th.
57.94 million
Ranked 3rd. 11 times more than India

SOURCES: Global Stock Markets Factbook; Global Stock Markets Factbook. GDP figures sourced from World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbooks 2010, 2011, 2012, 2013; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Development Indicators database; Human Development Report 2006, United Nations Development Programme; CIA World Factbooks 18 December 2003 to 28 March 2011; World Tourism Organisation, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.

Citation

"Economy: India and United States compared", NationMaster. Retrieved from http://www.nationmaster.com/country-info/compare/India/United-States/Economy

2

<h1>The economy of the United States is by far the biggest in the world. China is said to be on track to surpass the economic supremacy of the US in a decade or two, but at present, the economy of the latter is bigger than the economies of the next three economic giants combined. Many of the world’s largest companies are based in the US, and contrary to popular opinion, in terms of manufacturing, the US is still very dominant (a fifth of the world’s manufacturing output come from the US). The US, however, has been largely affected by the global financial crisis which started in 2007. While signs of recovery are everywhere, the full capabilities of the country are still to be reached. </h2>

<h1>India’s economy is among the biggest in the world (it is the second biggest in Asia, recently surpassing Japan). Like that of the US, India has a mixed economy where government-owned and private businesses are the primary drivers. Like most developed countries, India has a highly diversified market and trades with many countries for its imports and exports. However, while the economy continues to grow despite the current global financial instability, the wealth distribution in the country is far from balanced. Essentially, the gap between the rich and the poor has not at all lessened despite India’s vast treasury. </h2>

Posted on 03 Apr 2014

Edsel.G

Edsel.G

245

0

When comparing India and USA first of all India is the nation struggling for wealth distribution. Remember if you come and live in USA and properly look around the communities (rather than just looking at tourist point of view) you observe the same crisis of wealth distribution. Atleast Govt's in India provide free health and some freebies like ration which US never afforded to. India in comparison is poor man's heaven (provided improvement of internal environment of proper organisation). low level corruption that affects individuals in India if they do traffic related mistakes and while acquiring govt services per head is far less than total amount of dollars that affect the pockets in united states and also note down that u have to atleast multiply the GDP of India by 10 times based on common man's cost of living. And also cost per every % of quality of life. Then only you can come to reality . The only thing is present scenario itself can be stated that wealth distribution towards below proverty line ppl is better in USA compared to India but in case of basic life eminities such as health and growth chance (if I have to earn 10 times money to lead better life starting my journey as below poverty line compared to indian how come its better gowth promising state).

Posted on 16 Apr 2014

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