How the U.S. industry is still so much better than other countries
Posted On June 19, 2021
The U.K., Germany, and other countries are in the middle of the industrial revolution, according to a recent report from the International Labor Organization (ILO).
The report, titled “Manufacturing and Other Industries in the Global North: 2015,” shows the U, UK, Germany, France, Italy, the U!&A and Spain are among the best in the world.
The report says the U., UK, France and Italy are among five industrial nations that “produce more than half of the world’s gross domestic product.”
The U!%s output is about one-third of that of the United States and China combined.
In total, the three countries produce about 60% of global GDP.
The U.W. has become the industrial powerhouse of the global economy, which the ILO says was boosted by a “highly competitive and dynamic labor market,” which is helping to propel growth in other industries.
In an article for Bloomberg News, Dr. Richard H. Epstein, chief economist of the World Bank, noted that the U.’s manufacturing output grew from $2.2 trillion in 2009 to $3.3 trillion in 2015.
That’s up by more than 25% from the same time period a decade earlier.
The U&%s economy is also a bit more diversified than the European Union.
The ILO reports the U&a&!
A has an estimated 13.7% of the population, compared to 6.3% for the EU and 4.3 % for the United Kingdom.
The EU has the second-largest economy in the group with about $2 trillion of gross domestic products.
The UK is second, with 3.4%, followed by Germany with 2.8% and Italy with 1.6%.
France and the U!.& ;A are third and fourth, respectively, at 1.7%, 1.4% and 1.1%.
The ILo notes that Germany has become a “global manufacturing powerhouse.”
Its economy grew by 4.6% in 2015 compared to 3.2% in 2009.
Germany has also become an export hub for U.
A& !&.;a products.
According to the ILo, its output has grown by an average of 13.3%, compared to 11.3 in 2009, and it exported goods by an annual average of 7.3 million barrels per day.
The UK is a net importer of U.& .&?;a products in 2015, according the ILOS.
Huge industrial output has been created in the U%s industrial base, which has a population of about 13.8 million, according TOEFL.
The report shows that the industry has an employment rate of about 1.3%.
The U&r%s unemployment rate is 6.9%, which is well below the EU’s 3.7%.
The unemployment rate in Germany is 6%.