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The United States is the world's largest national economy in nominal terms and second largest according to purchasing power parity , representing 22% of nominal global GDP and 17% of gross world product . 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, backed by its science and technology, its military, the full faith of the US government to reimburse its debts, its central role in a range of international institutions since World War II and the petrodollar system. 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.

Economy of the United States
Lower Manhattan from Jersey City November 2014 panorama 3.jpg
New York City, the financial center of the United States and second largest center in the world.
Currency US$ (USD)
Increase Dollar Index
October 1, 2015 – September 30, 2016
Trade organizations
WTO, OECD, NAFTA and others
Statistics
GDP $18.56 trillion (2016, Nominal), $18.56 trillion (2016, PPP)
GDP rank 1st (nominal); 2nd (PPP)
GDP growth
Increase 3.5% (Q3 2016)
Increase 2.6% (2015)
GDP per capita
$57,293(2016, nominal), $57,293 (2016, PPP)
GDP per capita rank
5th (nominal); 10th (PPP)
GDP by sector
Agriculture: 1.6%
Industry: 20.8%
Services: 77.6%
(2015)
Negative increase 1.5% (Sep 2016)
Population below poverty line
13.66% (2015)
Negative increase 0.482 (2015 est.)
Labor force
159.463 million (August 2016)
Labor force by occupation
Farming, Forestry, and Fishing: 0.7%
Manufacturing, Extraction, Transportation, and Crafts: 12%
Managerial, Professional, and Technical: 38%
Sales and Office: 23%
Installation and Maintenance: 3.3%
Other Services: 23%
(June 2014)
[note: figures exclude the unemployed]
Unemployment 4.7% (May 2016)
Average gross salary
Increase$49,000, annual,(2015)
Increase$40,000, annual,(2015)
Main industries
Highly diversified, world leading, high-technology innovator, second-largest industrial output in the world; petroleum, steel, motor vehicles, aerospace, telecommunication, chemicals, arms industry, electronics, food processing, consumer goods, lumber, mining
Ease-of-doing-business rank
7th
External
Exports Decrease $1.51 trillion (2015 est.)
Export goods
machines, 33.9%
industrial supplies, 31.2%
consumer goods (except automotive), 12.3%
motor vehicles and components, 9.8%
food, feed, and beverages, 8.9%
other, 3.9%. (2014)
Main export partners
 Canada 18.6%
 Mexico 15.7%
 China 7.7%
 Japan 4.2%
(2015)
Imports $2.273 trillion (2015 est.)
Import goods
capital goods 25.2%, consumer goods (except automotive) 23.8%, industrial supplies (except crude oil) 17.8%, motor vehicles and components 14.0%, crude oil 10.5%, food, feed, and beverages 5.4%, other 3.3%. (2014)
Main import partners
 China 21.5%
 Canada 13.2%
 Mexico 13.2%
 Japan 5.9%
 Germany 5.5%
(2015)
FDI stock
$2.8 trillion (2013)
Negative increase $17.26 trillion (31 December 2014 est.)
note: approximately 4/5ths of US external debt is denominated in US dollars
Public finances
Public debt
73.6% of GDP (2015 est.)
Budget deficit
Negative increase -2.45 of GDP (2015)
note: for the US, revenues exclude social contributions of approximately $1.0 trillion; expenditures exclude social benefits of approximately $2.3 trillion (2015 est.)
Revenues $3.0 trillion (individual income tax, 46.2%; social insurance, 33.9%; corporate taxes, 10.6%; other, 9.3% – FY2014)
Expenses $3.5 trillion (Social Security, 24.3%; defense, 17.2%; Medicare, 14.6%; unemployment and other income security, 14.6%; Medicaid, 11.7%; interest, 6.5%; veterans, 4.3%; education and training, 2.6%; other, 4.2% – FY2014)
Economic aid ODA $48 billion, 0.03% of GDP (2012)
Credit rating
  • Standard & Poor's:
    AA+ (Domestic)
    AA+ (Foreign)
    AAA (T&C Assessment)
    Outlook: Stable
  • Moody's:
    AAA
    Outlook: Stable
  • Fitch:
    AAA
    Outlook: Stable
Foreign reserves
$0.14 trillion (May 16, 2014)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.
Historical US GDP per capita, 1929–2011
US per capita income distribution by county, 2009-2013 American Community Survey Estimates.
US household income distribution by county, 2009

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, backed by its science and technology, its military, the full faith of the US government to reimburse its debts, its central role in a range of international institutions since World War II and the petrodollar system. 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 third 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 consumer market of the US represents the largest in the world.

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. The United States has the largest consumer market in the world, with a household final consumption expenditure five times larger than Japan's. The labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. 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.

The US economy went through an economic downturn following the financial crisis of 2007–08, with output as late as 2013 still below potential according to the Congressional Budget Office. The economy, however, began to recover in the second half of 2009, and as of November 2015, unemployment had declined from a high of 10% to 5%.

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.