A Comparison of OECD Countries

The Organization for Economic Co-operation and Development (OECD) comprises of 30 countries “that accept the principles of representative democracy and free-market economy. Most OECD members are high-income economies with a high Human Development Index (HDI) and are regarded as developed countries.” (Source: Wikipedia).

The following are some interesting graphs from the “OECD in Figures 2008 - OECD Observer” published recently:

1. GDP Growth - Average Annual 1988-2007

click to enlarge

Key Points:

• Average Annual Economic Growth in the OECD countries for 20 years to 2007 was 2.8%
• Korea and Ireland grew at the fastest at over 6.0% per year
• Canada and USA were the only two countries that grew faster than other OECD countries

2. GDP Per Capita

Key Points:

• Tiny Luxembourg had the highest per capita at over $80,000 per year
• Norways’s GDP per capita is higher than USA’s
• Germany and UK have similar rates
• Japan’s rate is slightly higher than the OECD Average which is surprising.

3. Public Debt (as a % of GDP)

Key Points:

• Public debt rose quite sharply since 1987
• Italy’s debt exceeds 100% of its GDP
• Countries that reduced their public debt - Australia, Belgium, Denmark, Ireland, The Netherlands, Spain and New Zealand

4. Healthcare Spending as a % of GDP

Key Points:

• Despite private industry dominance of the healthcare industry, US public spending on health care has risen from 1990-2005
• The US spends the most on health care than any other OECD country

5. Road Fatalities - Killed per 100,000 population

Key Points:

• In 2006, Greece had the highest road fatalities rate. USA was the next one
• Countries like Sweden, Norway, Japan have the lowest fatality rates

Comments

[Firat Ünlü:]

I'd be interested to see those number given current currency valuations.

2008 Dec 27 08:11 AM

[David Hunkar:]

Yamu
Yes that would be interesting to evaluate. However I am not sure how often OECD updates their data for currency changes.If I find anything interesting I will write about it in a future post.

-David

2008 Dec 27 11:05 PM