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Economy of United States

The United States is the world's largest national economy in nominal terms and second largest according to purchasing power parity (PPP), representing 22% of nominal global GDP and 17% of gross world product (GWP). The United States' GDP was estimated to be $17.914 trillion as of Q2 2015.The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. The United States has a mixed economy and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment.

Its seven largest trading partners are Canada, China, Mexico, Japan, Germany, South Korea, and the United Kingdom.

The US has abundant natural resources, a well-developed infrastructure, and high productivity. It has the world's ninth-highest per capita GDP (nominal) and tenth-highest per capita GDP (PPP) as of 2013.Americans have the highest average household and employee income among OECD nations, and in 2010 had the fourth highest median household income, down from second highest in 2007. It has been the world's largest national economy (not including colonial empires) since at least the 1890s.

The U.S. is the world's largest producer of oil and natural gas. It is one of the largest trading nations in the world as well as the world's second largest manufacturer, representing a fifth of the global manufacturing output. The US not only has the largest internal market for goods, but also dominates the trade in services. US total trade amounted to $4.93T in 2012. Of the world's 500 largest companies, 128 are headquartered in the US.

The United States has one of the world's largest and most influential financial markets. The New York Stock Exchange is by far the world's largest stock exchange by market capitalization. Foreign investments made in the US total almost $2.4 trillion, while American investments in foreign countries total over $3.3 trillion. The economy of the U.S. leads in international ranking on venture capital and Global Research and Development funding. Consumer spending comprises 71% of the US economy in 2013.

In December 2014, public debt was slightly more than 100% of GDP. Domestic financial assets totaled $131 trillion and domestic financial liabilities totaled $106 trillion.

GDP by industry

Industries by GDP value added 2011.

Real estate, renting, leasing

The Real estate, renting , leasing contributed 13% of GDP and gross value of $1,898 billion to the US economy in 2011.

State and Local Government

State and Local Government contributed 9% of GDP and added gross value of $1,336 billion to US economy in 2011.

Finance and insurance

Finance and insurance sector of United States contribute 8% of GDP and added gross value of $1,159 billion to US economy in 2011.

Health/social care

Health/social care sector added gross value of $1,136 billion and contribute 8% GDP to US economy in 2011.

Durable manufacturing

Durable manufacturing sector contribute 6% GDP and added gross value of $910 billion to US economy in 2011.

Retail trade

Retail trade contribute 6% GDP and added gross value of $905 billion to US economy in 2011.

Wholesale trade

Wholesale trade contribute 6% GDP and added gross value of $845 billion to US economy in 2011.

Non-durable manufacturing

Non-durable manufacturing contribute 6% GDP and added value of $ 821 billion to US economy in 2011.

Federal Government

Federal Government contribute 5% GDP and added value of $658 billion to US economy in 2011.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of United States"

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