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The economy of the United States is the world's largest national economy. Its nominal GDP was
estimated to be $14.3 trillion in 2009, approximately a quarter of nominal global GDP. Its GDP
at purchasing power parity was also the largest in the world, approximately a fifth of global GDP
at purchasing power parity. The U.S. economy also maintains a very high level of output per
capita. In 2009, it was estimated to have a per capita GDP (PPP) of $46,381, the 6th highest in
the world.

Historically, 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. It has been the world's
largest national economy since 1944 and remains the world's largest manufacturer, representing
19% of the world's manufacturing output. In 2009, consumer spending, coupled with government
health care spending constituted 70% of the American economy. About 30% of the entire world's
millionaire population reside in the United States (in 2009). Furthermore, 40% of the world's
billionaires are American. The US is also home to the world's largest stock exchange, the New
York Stock Exchange. It also boasts the world's largest gold reserves and the world's largest gold
depository, the New York Federal Reserve Bank. The United States is also home to 139 of the
world's 500 largest companies, which is almost twice that of any other country. A large
contributor to the country's success has also been a very strong and stable currency. The US
dollar holds about 60% of world reserves, as compared to its top competitor, the euro, which
controls about 24%.

The overall financial position of the United States as of 2009 includes $50.7 trillion of debt owed
by US households, businesses, and governments, representing more than 3.5 times the annual
gross domestic product of the United States. As of the first quarter of 2010, domestic financial
assets totaled $131 trillion and domestic financial liabilities $106 trillion. Tangible assets in 2008
(such as real estate and equipment) for selected sectors totaled an additional $56.3 trillion


The United States economy expanded 3.10 percent over the last year, as measured by the year-
over-year change in Gross Domestic Product (GDP YoY). Unlike the commonly used quarterly
GDP growth rate the annual GDP growth rate takes into account a full year of economic activity,
thus avoiding the need to make any type of seasonal adjustment. The United States Gross
Domestic Product is worth 14256 billion dollars or 22.99% of the world economy, according to
the World Bank. From 1948 until 2010 the United States' average annual GDP Growth was 3.28
percent reaching an historical high of 13.40 percent in December of 1950 and a record low of -
4.10 percent in June of 2009.

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The unemployment rate in the United States was last reported at 9.60 percent in October of 2010.
From 1948 until 2010 the United States' Unemployment Rate averaged 5.70 percent reaching an
historical high of 10.80 percent in November of 1982 and a record low of 2.50 percent in May of
1953. The labour force is defined as the number of people employed plus the number
unemployed but seeking work. The nonlabour force includes those who are not looking for work,
those who are institutionalised and those serving in the military.
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The United States reported a balance of trade deficit equivalent to 44 Billion USD in September
of 2010. The United States is the most significant nation in the world when it comes to
international trade. For decades, it has led the world in imports while simultaneously remaining
as one of the top three exporters of the world. Main exports are: machinery and equipment,
industrial supplies, non-auto consumer goods, motor vehicles and parts, aircraft and parts, food,
feed and beverages. U.S. imports non-auto consumer goods, fuels, production machinery and
equipment, non-fuel industrial supplies, motor vehicles and parts, food, feed and beverages.
Main trading partners are: Canada, European Union, Mexico, China and Japan.

   

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