If the MTA’s debt were a GDP …

One of the eye-popping financial figures being much talked about in the New York City media over the past few days is the Straphangers Campaign‘s report (PDF) that the Metropolitan Transportation Authority‘s debt, currently $34.1 billion, is greater than the national debt of 30 countries.

A sobering figure indeed.

But that got me to thinking: how many countries have GDPs smaller than the MTA’s debt? And I have an answer:

102

That’s right: 102 sovereign nations have an economic output smaller than the MTA’s current debt.

If we follow the Straphangers Campaign’s lead and exclude nations with a GDP smaller than U.S. $10 billion, that still leaves us with a lengthy list of 45 countries:

Country 2013 GDP
Billions of U.S. $
Jordan 33.7
Bahrain 32.8
Tanzania 32.7
Latvia 31.0
North Korea 30.7
Bolivia 30.2
Paraguay 29.0
Cameroon 28.0
Trinidad & Tobago 27.8
Côte d’Ivoire 27.2
Estonia 24.5
El Salvador 24.3
Uganda 23.5
Zambia 23.4
Cyprus 21.9
Democratic Republic of the Congo 21.3
Afghanistan 20.7
Bosnia and Herzegovina 19.4
Honduras 18.6
Nepal 18.2
Brunei Darussalam 17.0
Georgia 16.1
Equatorial Guinea 16.1
Senegal 15.6
Cambodia 15.5
Mozambique 15.3
Botswana 15.3
Papua New Guinea 14.8
Iceland 14.6
Jamaica 14.3
Albania 12.6
Namibia 12.4
Mauritius 12.0
Burkina Faso 11.9
Mongolia 11.5
Nicaragua 11.3
Chad 11.2
Gabon 11.1
Armenia 11.0
Palestinian Authority 11.0
Zimbabwe 10.9
Laos 10.9
Mali 10.8
Madagascar 10.6
Macedonia 10.2

Looking at the full list of 102, the MTA’s debt is greater than the combined GDP of the bottom 28 nations ($34.1 billion versus $32.1 billion).

The full spreadsheet with all the nations and GDP data can be found here.

These figures were reported in the June 2014 Metro Economies Report (PDF) issued by The United States Conference of Mayors. The report was prepared by IHS Global Insight. The original report included a few “nations” I have excluded here, including American Samoa, Guam, and the U.S. Virgin Islands, which I consider to be a part of the United States, and the French overseas departments of French Guiana, Martinique, and Réunion, which are a part of France.

Photo: Fulton Center, the stunning new subway station that opened in November 2014 in Lower Manhattan, cost $1.4 billion to construct—more than the GDP of 18 countries.

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