Delight in a Massage in Burma

taxidoctor6 75 8th Nov, 2020

Loading Please wait...

No description

To share this paste please copy this url and send to your friends
RAW Paste Data
Okonjo-Iweala - It Cannot Be Business As Usual At WTO

Economy of the United States
Blue one world trade tower .jpg
New York City, the financial center of the United States and the world.[1]
CurrencyUnited States dollar (USD) Decrease Dollar Index
October 1, 2020 – September 30, 2021
Trade organizations
WTO, OECD and others
Country group
GDPDecrease $20.8 trillion (2020 est.)[4]
GDP rank
GDP growth
  • 3.0% (2018) 2.2% (2019)
  • −4.3% (2020e) 3.1% (2021e)[4]
GDP per capita
Decrease $63,051 (2020 est.)[4]
GDP per capita rank
GDP by sector
GDP by component
  • Household consumption: 68.4%
  • Government consumption: 17.3%
  • Investment in fixed capital: 17.2%
  • Investment in inventories: 0.1%
  • Exports of goods and services: 12.1%
  • Imports of goods and services: −15%
  • (2017 est.)[5]
  • 1.5% (2020 est.)[4]
  • 1.7% (Aug. 2019)[6]
Population below poverty line
  • Positive decrease 10.5% (2019)[7]
  • Positive decrease 34.0 million (2019)[7]
Labor force
  • Decrease 160.1 million (January 2021)[12]
  • Negative increase 57.5% employment rate (January 2021)[12]
Labor force by occupation
  • Positive decrease 6.3% (January 2021)[12]
  • Negative increase 14.8% youth unemployment (January 2021; 16 to 19 year-olds)[12]
  • Positive decrease 10.1 million unemployed (January 2021)[12]
Average gross salary
$63,093 (2018)[14]
Median gross salary
Increase $936 weekly (Q4, 2019)[15]
Main industries
Increase 6th (very easy, 2020)[16]
ExportsDecrease $2.54 trillion (2020)[17]
Export goods
Main export partners
ImportsDecrease $3.19 trillion (2019)[17]
Import goods
Main import partners
FDI stock
  • Increase $4.08 trillion (31 December 2017 est.)[20]
  • Increase Abroad: $5.711 trillion (31 December 2017 est.)[20]
Decrease −$501.3 billion (2020 est.)[20]
Negative increase $21.3 trillion (September 2020)[21] note: approximately 4/5ths of US external debt is denominated in US dollars[20]
Public finances
Negative increase 121.0% of GDP (FY 2020)[22]
Revenues$3.42 trillion (2020)[23]
Expenses$6.55 trillion (2020)[24]
Economic aiddonor: ODA, $35.26 billion (2017)[25]

Foreign reserves
$41.8 billion (Aug 2020)[31]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The economy of the United States is that of a highly developed country with a mixed economy.[32][33] It is the world's largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP).[34] It has the world's fifth-highest per capita GDP (nominal) and the seventh-highest per capita GDP (PPP) in 2020.[35] The United States has the most technologically powerful economy in the world and its firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment.[36] The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency, backed by its economy, its military, the petrodollar system and its linked eurodollar and large U.S. treasuries market.[37][38] Several countries use it as their official currency and in others it is the de facto currency.[39][40] The largest U.S. trading partners are China, Canada, Mexico, Japan, Germany, South Korea, United Kingdom, France, India, and Taiwan.[41] The U.S. is the world's largest importer and the second-largest exporter.[42] It has free trade agreements with several nations, including the USMCA, Australia, South Korea, Israel, and few others that are in effect or under negotiation.[43]

The nation's economy is fueled by abundant natural resources, a well-developed infrastructure, and high productivity.[44] It has the seventh-highest total-estimated value of natural resources, valued at Int$45 trillion in 2015.[45] Americans have the highest average household and employee income among OECD member states,[46] and in 2010, they had the fourth-highest median household income, down from second-highest in 2007.[47][48] By 1890 the United States had overtaken the British Empire as the world's most productive economy.[49] It is the world's largest producer of petroleum and natural gas.[50] In 2016, it was the world's largest trading nation[51] as well as its second-largest manufacturer, representing a fifth of the global manufacturing output.[52] The U.S. not only has the largest internal market for goods, but also dominates the services trade. U.S. total trade amounted to $4.2 trillion in 2018.[53] Of the world's 500 largest companies, 121 are headquartered in the U.S.[54] The U.S. has the world's highest number of billionaires with total wealth of $3.0 trillion.[55][56] US commercial banks had $20 trillion in assets as of August 2020.[57] US Global assets under management had more than $30 trillion in assets.[58][59]

The New York Stock Exchange and Nasdaq are the world's largest stock exchanges by market capitalization and trade volume.[60][61] Foreign investments made in the U.S. total almost $4.0 trillion,[62] while American investments in foreign countries total over $5.6 trillion.[63] The U.S. economy is ranked first in international ranking on venture capital[64] and Global Research and Development funding.[65] Consumer spending comprised 68% of the U.S. economy in 2018,[66] while its labor share of income was 43% in 2017.[67] The U.S. has the world's largest consumer market.[68] The nation's labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world.[69] The U.S. is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report, and others.[70]

The U.S. economy experienced a serious economic downturn during the Great Recession, defined as lasting from December 2007 to June 2009. However, real GDP regained its pre-crisis (late 2007) peak by 2011,[71] household net worth by Q2 2012,[72] non-farm payroll jobs by May 2014,[73] and the unemployment rate by September 2015.[74] Each of these variables continued into post-recession record territory following those dates, with the U.S. recovery becoming the second-longest on record by April 2018.[75] In the first two quarters of 2020,[76] the U.S. economy entered recession due to the COVID-19 pandemic. This coronavirus recession has been widely described as the most severe global economic downturn since the Great Depression, and "far worse" than the Great Recession.[77][78][79][80] Income inequality ranked 41st highest among 156 countries in 2017,[81] and the highest compared to other Western nations.[82]

  1. ^ "The Global Financial Centres iIndex 18" (PDF). Long Finance. September 2020.
  2. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved September 29, 2019.
  3. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved September 29, 2019.
  4. ^ a b c d "World Economic Outlook Database, October 2020". IMF.org. International Monetary Fund. Retrieved October 18, 2020.
  5. ^ a b "Field Listing: GDP – Composition, by Sector of Origin". Central Intelligence Agency World Factbook. Central Intelligence Agency. Retrieved April 3, 2018.
  6. ^ "Consumer Price Index – August 2019". CNBC.
  7. ^ a b "Income and Poverty in the United States: 2019". United States Census Bureau. September 15, 2020. Retrieved October 5, 2020.
  8. ^ "Income Distribution Measures and Percent Change Using Money Income and Equivalence-Adjusted Income" (PDF). census.gov. United States Census Bureau. Retrieved October 5, 2020.
  9. ^ "The Distribution of Household Income, 2017" (PDF). cbo.gov. Congressional Budget Office. October 2, 2020. pp. 31, 32. Retrieved October 19, 2020.
  10. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved December 11, 2019.
  11. ^ "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved May 22, 2020.
  12. ^ a b c d e "Employment status of the civilian population by sex and age". BLS.gov. Bureau of Labor Statistics. Retrieved October 4, 2020.
  13. ^ "Employment by major industry sector". Bureau of Labor Statistics. Retrieved July 5, 2018.
  14. ^ "Usual Weekly Earnings of Wage and Salary Workers First Quarter 2017". Bureau of Labor Statistics. U.S. Department of Labor. July 17, 2018. Retrieved September 13, 2018.
  15. ^ "Usual Weekly Earnings Summary". www.bls.gov. Bureau of Labor Statistics. January 17, 2020.
  16. ^ "Ease of Doing Business in United States". Doingbusiness.org. Retrieved November 21, 2017.
  17. ^ a b c d "U.S. trade in goods with World, Seasonally Adjusted". United States Census Bureau. Retrieved March 1, 2018.
  18. ^ "Exports of goods by principal end-use category" (PDF). Census Bureau.
  19. ^ "Imports of goods by principal end-use category" (PDF). Census Bureau.
  20. ^ a b c d "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved August 17, 2019.
  21. ^ "Treasury TIC Data". U.S. Department of the Treasury. Retrieved January 30, 2021.
  22. ^ "Federal Debt: Total Public Debt as Percent of Gross Domestic Product".
  23. ^ "US Government Finances: Revenue, Deficit, Debt, Spending since 1792".
  24. ^ "US Federal Budget Overview - Spending Breakdown Deficit Debt Pie Chart". Retrieved January 29, 2021.
  25. ^ "Development aid rises again in 2016 but flows to poorest countries dip". OECD. April 11, 2017. Retrieved September 25, 2017.
  26. ^ "Sovereigns rating list". Standard & Poor's. Archived from the original on June 18, 2011. Retrieved August 20, 2011.
  27. ^ a b Rogers, Simon; Sedghi, Ami (April 15, 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. London. Retrieved May 28, 2011.
  28. ^ Riley, Charles (August 2, 2017). "Moody's affirms Aaa rating, lowers outlook". CNN.
  29. ^ "Fitch Affirms United States at 'AAA'; Outlook Stable". Fitch Ratings.
  30. ^ "Scope affirms the USA's credit rating of AA with Stable Outlook". Scope Ratings.
  31. ^ "U.S. International Reserve Position". Treasury.gov. Retrieved January 18, 2019.
  32. ^ "U.S. Economy – Basic Conditions & Resources". U.S. Diplomatic Mission to Germany. Retrieved October 24, 2017. The United States is said to have a mixed economy because privately owned businesses and government both play important roles.
  33. ^ "Outline of the U.S. Economy – How the U.S. Economy Works". U.S. Embassy Information Resource Center. Archived from the original on January 14, 2012. Retrieved October 24, 2017. As a result, the American economy is perhaps better described as a "mixed" economy, with government playing an important role along with private enterprise. Although Americans often disagree about exactly where to draw the line between their beliefs in both free enterprise and government management, the mixed economy they have developed has been remarkably successful.
  34. ^ "Report for Selected Country Groups and Subjects (PPP valuation of country GDP)". IMF. Retrieved December 29, 2017.
  35. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved April 9, 2019.
  36. ^ "United States reference resource". The World Factbook Central Intelligence Agency. Retrieved May 31, 2019.
  37. ^ "The Implementation of Monetary Policy – The Federal Reserve in the International Sphere" (PDF). Retrieved August 24, 2010.
  38. ^ Zaw Thiha Tun (July 29, 2015). "How Petrodollars Affect The U.S. Dollar". Retrieved October 14, 2016.
  39. ^ Benjamin J. Cohen, The Future of Money, Princeton University Press, 2006, ISBN 0691116660; cf. "the dollar is the de facto currency in Cambodia", Charles Agar, Frommer's Vietnam, 2006, ISBN 0471798169, p. 17
  40. ^ "US GDP Growth Rate by Year". multpl.com. US Bureau of Economic Analysis. March 31, 2014. Retrieved June 18, 2014.
  41. ^ "Top Trading Partners". U.S. Census Bureau. December 2016. Retrieved July 8, 2017.
  42. ^ "World Trade Statistical Review 2019" (PDF). World Trade Organization. p. 100. Retrieved May 31, 2019.
  43. ^ "United States free trade agreements". Office of the United States Trade Representative. Retrieved May 31, 2019.
  44. ^ Wright, Gavin, and Jesse Czelusta, "Resource-Based Growth Past and Present", in Natural Resources: Neither Curse Nor Destiny, ed. Daniel Lederman and William Maloney (World Bank, 2007), p. 185. ISBN 0821365452.
  45. ^ Anthony, Craig (September 12, 2016). "10 Countries With The Most Natural Resources". Investopedia.
  46. ^ "Income". Better Life Index. OECD. Retrieved September 28, 2019. In the United States, the average household net adjusted disposable income per capita is USD 45 284 a year, much higher than the OECD average of USD 33 604 and the highest figure in the OECD.
  47. ^ "Household Income". Society at a Glance 2014: OECD Social Indicators. Society at a Glance. OECD Publishing. March 18, 2014. doi:10.1787/soc_glance-2014-en. ISBN 9789264200722. Retrieved May 29, 2014.
  48. ^ "OECD Better Life Index". OECD. Retrieved November 25, 2012.
  49. ^ Digital History; Steven Mintz. "Digital History". Digitalhistory.uh.edu. Archived from the original on March 2, 2004. Retrieved April 21, 2012.
  50. ^ "United States remains the world's top producer of petroleum and natural gas hydrocarbons". EIA.
  51. ^ Katsuhiko Hara and Issaku Harada (staff writers) (April 13, 2017). "US overtook China as top trading nation in 2016". Nikkei Asian Review. Tokyo. Retrieved June 22, 2017.CS1 maint: uses authors parameter (link)
  52. ^ Vargo, Frank (March 11, 2011). "U.S. Manufacturing Remains World's Largest". Shopfloor. Archived from the original on April 4, 2012. Retrieved March 28, 2012.
  53. ^ "Trade recovery expected in 2017 and 2018, amid policy uncertainty". Geneva, Switzerland: World Trade Organization. April 12, 2017. Retrieved June 22, 2017.
  54. ^ "Global 500 2016". Fortune. Number of companies data taken from the "Country" filter.
  55. ^ "The US is home to more billionaires than China, Germany and Russia combined". CNBC. Retrieved May 9, 2019.
  56. ^ "Wealth-X's Billionaire Census 2019 report reveals insights and trends about the world's top billionaires". hk.asiatatler.com. Retrieved May 14, 2019.
  57. ^ https://fred.stlouisfed.org/series/TLAACBW027SBOG/
  58. ^ http://www.agefi.fr/sites/agefi.fr/files/fichiers/2016/07/bcg-doubling-down-on-data-july-2016_tcm80-2113701.pdf
  59. ^ https://repositorio.cepal.org/bitstream/handle/11362/45045/1/S1900994_en.pdf
  60. ^ "Monthly Reports - World Federation of Exchanges". WFE.
  61. ^ Table A – Market Capitalization of the World's Top Stock Exchanges (As at end of June 2012). Securities and Exchange Commission (China).
  62. ^ "CIA – The World Factbook". Cia.gov. Retrieved April 21, 2012.
  63. ^ "CIA – The World Factbook". Cia.gov. Retrieved April 21, 2012.
  64. ^ Adapting and evolving – Global venture capital insights and trends 2014. EY, 2014.
  65. ^ "2014 Global R&D Funding Forecast" (PDF). battelle.org. December 16, 2013. Archived from the original (PDF) on February 9, 2014.
  66. ^ "Personal consumption expenditures (PCE)/gross domestic product (GDP)" FRED Graph, Federal Reserve Bank of St. Louis
  67. ^ "Shares of gross domestic income: Compensation of employees, paid: Wage and salary accruals: Disbursements: To persons" FRED Graph, Federal Reserve Bank of St. Louis
  68. ^ "United Nations Statistics Division – National Accounts Main Aggregates Database".
  69. ^ "Country comparison :: net migration rate". Central Intelligence Agency. The World Factbook. 2014. Retrieved June 18, 2014.
  70. ^ Rankings: Global Competitiveness Report 2013–2014 (PDF), World Economic Forum, retrieved June 1, 2014
  71. ^ FRED – Real GDP
  72. ^ FRED – Household Net Worth
  73. ^ FRED-Total Non-Farm Payrolls
  74. ^ FRED-Civilian Unemployment Rate
  75. ^ The New York Times. Casselbaum. "Up, Up, Up Goes the Economy". March 20, 2018
  76. ^ Pound, Jesse (August 28, 2020). "Fed's Bullard says the recession is over but rates will 'stay low for a long time'". CNBC. Retrieved September 4, 2020.
  77. ^ "The Great Recession Was Bad. The 'Great Lockdown' Is Worse". BloombergQuint. Retrieved April 15, 2020.
  78. ^ "IMF Says 'Great Lockdown' Worst Recession Since Depression, Far Worse Than Last Crisis". nysscpa.org. Retrieved April 15, 2020.
  79. ^ Ben Winck (April 14, 2020). "IMF economic outlook: 'Great Lockdown' will be worst recession in century". Business Insider. Retrieved April 27, 2020.
  80. ^ Larry Elliott Economics editor. "'Great Lockdown' to rival Great Depression with 3% hit to global economy, says IMF | Business". The Guardian. Retrieved April 27, 2020.
  81. ^ CIA World Factbook "Distribution of Family Income"
  82. ^ Gray, Sarah (June 4, 2018). "Trump Policies Highlighted in Scathing U.N. Report On U.S. Poverty". Fortune. Retrieved September 13, 2018. "The United States has the highest rate of income inequality among Western countries", the report states.
Your message is required.
Markdown cheatsheet.

There are no comments yet.