The US GDP PPP is five-times of Germany, seven-times of the UK and France, nine-times of Italy, and 11-times of Spain in 2018. Per capita GDP: Per capita GDP of the Eastern Bloc countries, comprising of the former communist states of Eastern and Central Europe. GDP (constant 2010 US$) GDP (current US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. Post was not sent - check your email addresses! CRS Report for Congress, March. The European Union (EU) is a political and economic union of 28 countries in the Europe continent. I read somewhere recently that by the time the USSR collapsed, it only had 1/8th the GDP as the United States. Briefing Memorandum From the Assistant Secretary of State for European and Canadian Affairs ( Burt ) to the Under Secretary of State for Political Affairs ( Armacost ) 1 Sorry, your blog cannot share posts by email. The US GDP PPP per capita is 1.4-times of that of the EU and is more than the GDP PPP per capita of top-10 EU countries by GDP PPP. The US population is 4-times more than Germany – the EU most populated country. Presidential Studies Quarterly,27(3), 451-466. If we take the UK GDP PPP of $3 trillion out of the EU, then the EU GDP PPP would get reduced to $19 trillion. CSV XML EXCEL. Allen, R. C. (2003). For much of the 20 th Century, the Soviet Union rivaled the United States in political, military and economic strength. 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. 1. The Soviet Union influenced Eastern Europe, while the U.S. influenced Western Europe. But after the Soviet Union crumbled in the early 1990s, Russia had to reinvent its economy. The US GDP per capita during 1980 was $12,533. The US has a total land area of 9.1 million sq km. ️See new videos early, participate in exclusive Q&As, and more! 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. Secure .gov websites use HTTPS. Data Source: International Monetary Fund (IMF) World Economic Outlook (WEO) database, October 2018 edition. During 1980, the US GDP was $2.9 trillion, whereas the EU GDP was $3.8 trillion. The names of the EU countries are as follows: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, United Kingdom. The following chart shows the GDP of the US and the EU from 1980 to 2018. 8% Ranked 4th. In a command economy the government decides how many goods should be made. The EU had a total population of 432 million in 1980. Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy towards a more market-based system. The following chart shows the year 2018 population of the US, the EU, and the countries in the EU. The combined land area of EU countries is 47.5% of that of the US. Before comparing GDP per capita, we will compare the population of the US and the EU. The following chart shows the real GDP growth of the US and the EU from 1980 to 2018. The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing.The highly centralized Soviet-type economic planning was managed by the administrative-command system.The Soviet economy was characterized by state control of investment, a dependence on natural resources, shortages, public ownership of industrial … According Jan Nijman the “Soviet Union” after 1945 wished to spread the concept of a economy which was controlled by the state so that wealth … Farm to factory: a reinterpretation of the Soviet industrial revolution. The Soviet Union lived in a command economy. The following chart shows the GDP per capita of the US, the EU, and the countries in the EU for the year 2018. Both economic growth and reform have stalled in recent years, however, and Russia remains a predominantly statist economy with a high concentration of wealth in officials' hands. 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