1. Currency
United States Dollar (USD)
Fiscal year
1 October - 30 September
Trade organizations
NAFTA, WTO, OECD, G-20 and others
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2. GDP
$14.441 trillion (2008)[1]
GDP growth
0.4% (2008)
-3.9% (Q2 2008-Q2 2009)[1]
GDP per capita
$47,422 (2008)[2] (10th)
GDP by sector
agriculture (0.9%),
industry (20.6%),
services (78.5%)
Inflation (CPI)
-1.4% (June 2008-09)[3]
2
3. Population
below poverty line
13.2% (2008)
Labor force 155 million (includes unemployed)
(2008)
Labor force
by occupation
managerial and professional (35.5%), technical,
sales and administrative support (24.8%), services
(16.5%), manufacturing, mining, transportation,
and crafts (24%), farming, forestry, and fishing
(0.6%) (excludes unemployed) (2007)
Unemployment
9.8% (October 2009)
3
5. Exports
$1.283 trillion f.o.b. (2008)
Export goods
industrial supplies, 29.8%; production machinery, 29.5%;
non-auto consumer goods, 12.4%; motor vehicles and
parts, 9.3%; food, feed and beverages, 8.3%; aircraft and
parts, 6.6%; other, 4.1%. (2008)
Main export partners
Canada, 21.4%; Mexico, 11.7%; China, 5.6%; Japan, 5.4%;
Germany, 4.3%; United Kingdom, 4.1%.[7]
Imports
$2.115 trillion c.i.f. (2008)
Import goods
non-auto consumer goods 23.0%; fuels, 22.1%; production
machinery and equipment, 19.9%; non-fuel industrial
supplies, 14.8%; motor vehicles and parts, 11.1%; food,
feed and beverages, 4.2%; aircraft and parts, 1.7%; other
3.2%. (2008)
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6. Import goods
non-auto consumer goods 23.0%; fuels, 22.1%;
production machinery and equipment, 19.9%; non-fuel
industrial supplies, 14.8%; motor vehicles and parts,
11.1%; food, feed and beverages, 4.2%; aircraft and
parts, 1.7%; other 3.2%. (2008)
Main import partners
China, 16.9%; Canada, 15.7%; Mexico, 10.6%; Japan,
7.4%; Germany, 7.4%.[7]
Gross external debt
$13.77 trillion (30 June 2008)
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7. Public
debt
$11.4 trillion (June 2009) 81% of GDP
Revenues
$2.523 trillion (2008)
Expenses
$3.150 trillion (2008)
Economic aid
$19 billion, 0.2% of GDP (2004)
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8. The
economy of the United States is the
largest national economy in the world in
both actual dollars and by Purchasing
Power Parity.[12] Its nominal gross
domestic product (GDP) was estimated
as $14.4 trillion in 2008, which is about
three times that of the world's second
largest economy, Japan. Its GDP by PPP is
almost twice that of the second largest,
China.
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9.
The U.S. economy maintains a very high level of output
per person (GDP per capita, $47,422 in 2008, ranked at
around number ten in the world). The U.S. economy
has maintained a stable overall GDP growth rate, a low
unemployment rate, and high levels of research and
capital investment funded by both national and,
because of decreasing saving rates, increasingly by
foreign investors. In 2008, consumer spending made
seventy-two percent of the economic activity in the
U.S.
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10. Since the 1970s, the United States economy has
absorbed savings from the rest of the world. The
phenomenon is subject to discussion among
economists. Like other developed countries, the
United States faces retiring baby boomers who have
already begun withdrawing from their Social Security
accounts; however, the American population is young
and growing when compared to Europe or Japan. The
2008 estimates of the United States public debt by the
CIA Factbook and the International Monetary Fund
were 61% of GDP, about the same as major European
countries.
10
11.
The United States has been one of the best-performing
developed countries, consistently outperforming
European countries. The American labor market has
attracted immigrants from all over the world and has
one of the world's highest migration rates. Americans
have the second highest income per hour worked.[16]
The United States is ranked second, down from first in
2008-2009 due to the economic crisis, in the Global
Competitiveness Report
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12.
An economy is the ways in which people use their
environment to meet their material needs. It is the
realized economic system of a country or other area. It
includes the production, exchange, distribution, and
consumption of goods and services of that area. The
study of different types and examples of economies is
the subject of economic systems. A given economy is
the end result of a process that involves its
technological evolution, history and social
organization, as well as its geography, natural resource
endowment, and ecology, among other factors. These
factors give context, content, and set the conditions
and parameters in which an economy functions.
12
13.
Today the range of fields of study exploring, registering and
describing the economy or a part of it, include social
sciences such as economics, as well as branches of history
(economic history) or geography (economic geography).
Practical fields directly related to the human activities
involving production, distribution, exchange, and
consumption of goods and services as a whole, range from
engineering to management and business administration
to applied science to finance. All kind of professions,
occupations, economic agents or economic activities,
contribute to the economy. Consumption, saving and
investment are core variable components in the economy
and determine market equilibrium. There are three main
sectors of economic activity: primary, secondary and
tertiary.
13
14.
The word "economy" can be traced back to the
Greek word "one who manages a household",
derived from οἴκος, "house", and νέμω, "distribute
(especially, manage)". From οἰκονόμος "of a
household or family" but also senses such as "thrift",
"direction", "administration", "arrangement", and
"public revenue of a state". The first recorded sense
of the word "economy", found in a work possibly
composed in 1440, is "the management of economic
affairs", in this case, of a monastery. Economy is later
recorded in other senses shared by οἰκονομία in
Greek, including "thrift" and "administration". The
most frequently used current sense, "the economic
system of a country or an area", seems not to have
developed until the 19th or 20th century.
14