How does the United States compare to other countries in terms of socioeconomic indicators?

These six charts provide an overview of the economy, demographics, health care, education and military spending as voters prepare to cast their ballots on November 5.

The largest economy in the world

The US has the largest economy in the world, with a gross domestic product (GDP) of about $27 trillion, according to the study. The World Bank. That puts it ahead of other major economies, including China ($17.8 trillion) and Germany ($4.5 trillion).

The US has a GDP per capita of $65,020 – about four times the global average, placing it seventh in the world.

The US Treasury has the largest gold reserves in the world, at 8,133 tonsvalued at approximately 700 billion dollars. This amount is more than double Germany’s reserves, which stand at 3,352 tonnes, and three times Italy’s 2,452 tonnes.

While GDP reflects a country’s overall economic output, its gold reserves play a distinct role in the financial landscape, supporting monetary policy and influencing currency stability and trade.

An aging population

With a population of 335 million, the US is the third most populous country in the world, after India (1.43 billion) and China (1.41 billion).

However, the population growth rate has been steadily declining and, together with the aging population, presents economic and social challenges such as maintaining productivity and supporting seniors.

Of the country fertility rate is only 1.84, indicating that the average woman is expected to have fewer than two children in her lifetime, which is below the global average of 2.4 and the replacement rate of 2.1 required for a population stable without migration.

The countries with the highest fertility rates are Niger (6.64), Angola (5.70) and the Democratic Republic of Congo (5.49), while Taiwan (1.11), South Korea (1.12) and Singapore (1.17) have the lowest rates.

Mediate life expectancy in the US it is 81 years, which is slightly higher than the global average of 75 years, but still lower than that of most European and other developed countries.

Quality of life

The US federal minimum wage has been $7.25 per hour since 2009.

Raising the minimum wage is a key election issue, with more than 80% of American voters believing the current wage is not enough for a decent quality of life, according to Data for progressan American progressive think tank.

With an average work week of 37-52 hours, the annual minimum wage in the US is approximately $15,080. This is roughly double the global average of $6,293, but only about half of what minimum wage workers earn in countries such as Australia ($34,515), New Zealand ($33,487) and Luxembourg ($32,103).

However, when it comes to affordability, such as buying a home, the US ranks among the highest in the world, with a price-to-income ratio of 131.3. With 2015 as the base year, this means that the median home price in the US has outpaced income growth by more than 30 percent.

Both US presidential candidates Kamala Harris and Donald Trump say they will introduce tax policies to support first-time home buyers.

The most expensive healthcare in the world

The US has the most expensive healthcare costs in the world, with the country spending over $12,000 per capita each year.

High costs for services, drugs and insurance premiums create barriers to access, especially for the most vulnerable, leaving many uninsured or underinsured.

US government spending on health is 16.6% of the country’s GDP, about seven percentage points higher than the global average of 7.3%.

Despite its relatively high spending on health care, the US’s Health Index Score is lower than that of many other high-income countries. The health index score measures how healthy people are and their access to health care services.

Harris is a strong supporter of the Affordable Care Act (ACA), which aims to make health care affordable for more Americans. She has pledged to expand this 14-year-old legislation, but Trump has tried to repeal it many times during his 2017-2021 term as US president.

Education ranking

right Education Data InitiativeUS public education spending is below global benchmarks and lagging behind economic growth.

The US spends about 6.1% of GDP on education, which is higher than the global average of 4.7%.

When it comes to performance in math, science and reading, the US scored a total of 1,468 points in the 2022 Program for International Student Assessment (PISA).

This score exceeds the global average of 1,320 points, but falls short compared to several Asian countries, including Singapore, which scored 1,679 points, China with 1,605 points and Japan with 1,599 points.

Military spending and power

The US spends more on its military than the next 10 highest spending countries combined, accounting for 39% of all global military spending.

At nearly $900 billion as a share of GDP, US military spending is 3.45%, well above the global average of 2%.

The US is ranked number one out of 145 countries by the Global Firepower Index, which measures a nation’s warfighting capabilities on land, sea and air.