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Economy of the United States

Day 1,848, 08:56 Published in North Korea North Korea by REPUBLIC OF GEGA

The economy of the United States is the world's largest national economy and the world's second largest overall economy, the GDP of the EU being approximately $2 trillion larger. Its nominal GDP was estimated to be over $15 trillion in 2011, approximately a quarter of nominal global GDP.[1] Its GDP at purchasing power parity is the largest in the world, approximately a fifth of global GDP at purchasing power parity.[1] The U.S. is one of the world's wealthiest nations, with abundant natural resources, a well-developed infrastructure, and high productivity.[19] It has the world's sixth-highest per capita GDP (PPP).[1] The U.S. is the world's third-largest producer of oil and second-largest producer of natural gas. It is the largest trading nation in the world. Its four largest export trading partners are as of 2011: Canada, China, Mexico and Japan.
The United States has a mixed economy[20][21] and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment. It has been the world's largest national economy (not including colonial empires) since at least the 1890s.[22] As of 2012, the country remains the world's largest manufacturer, representing a fifth of the global manufacturing output.[23] Of the world's 500 largest companies, 133 are headquartered in the United States. This is twice the total of any other country.[24] The labor market in the United States 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,[25] and others. The United States is ranked first globally in the IT industry competitiveness index.[26]
About 60% of the global currency reserves have been invested in the United States dollar, while 24% have been invested in the euro. The country is one of the world's largest and most influential financial markets. The New York Stock Exchange (formally known as NYSE Euronext) is the world's largest stock exchange by market capitalization.[27] Foreign investments made in the United States total almost $2.4 trillion, which is more than twice that of any other country.[28] American investments in foreign countries total over $3.3 trillion, which is almost twice that of any other country.[29] Total public and private debt was $50.2 trillion at the end of the first quarter of 2010, or 3.5 times GDP.[30] In October 2012, the proportion of public debt was about 1.0043 times the GDP.[11] Domestic financial assets totaled $131 trillion and domestic financial liabilities totaled $106 trillion.[31] As of 2010, the European Union as a whole was the largest trading partner of the U.S., whereas Canada, China, and Mexico were the largest individual trading nations.
The US economy is orderly reviewed with comprehensive economic data analysis by the Beige Book[32] of the Federal Reserve System,[33] the Bureau of Economic Analysis of the Department of Commerce,[34][35] the Bureau of Labor Statistics[36] of the United States Department of Labor and economic indicators[37] of the United States Census.
The United States' economy is currently embroiled in the economic downturn which followed the Financial crisis of 2007–2008, with output still below potential according to the CBO[38] and unemployment still above historic trends[39] as of late 2012.

 

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