United States - Economy
How is the economy of United States? Based on the information we have, United States has a high-income, diversified North American economy; NATO leader; largest importer and second-largest exporter; home to leading financial exchanges; high and growing public debt; rising socioeconomic inequalities; historically low interest rates; hit by COVID-19. Key agricultural products in this country include: maize, soybeans, milk, wheat, sugarcane, sugar beets, chicken, potatoes, beef, pork (2022).
More about the economy of United States
Labor force 170.549 million (2023 est.)
Industrial production growth rate 3.25% (2021 est.)
Industries highly diversified, world leading, high-technology innovator, second-largest industrial output in the world; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining
Population below poverty line
Taxes and other revenues 12.18% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Debt - external
Debt - external 2019 $20,275,951,000,000 (2019 est.)
Debt - external 2018 $19,452,478,000,000 (2018 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $773.426 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $706.644 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $716.152 billion (2021 est.)
Current account balance
Current account balance 2023 -$818.822 billion (2023 est.)
Current account balance 2022 -$971.594 billion (2022 est.)
Current account balance 2021 -$831.453 billion (2021 est.)
Public debt
Public debt 2022 110.39% of GDP (2022 est.)
Budget
Revenues $6.429 trillion (2019 est.)
Expenditures $7.647 trillion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.03% of GDP (2023 est.)
Remittances 2022 0.03% of GDP (2022 est.)
Remittances 2021 0.03% of GDP (2021 est.)
Household income
Lowest 10% 2.2% (2021 est.)
Highest 10% 30.1% (2021 est.)
Average household expenditures
On food 6.7% of household expenditures (2021 est.)
On alcohol and tobacco 1.9% of household expenditures (2021 est.)
Imports
Imports 2023 $3.832 trillion (2023 est.)
Imports 2022 $3.97 trillion (2022 est.)
Imports 2021 $3.409 trillion (2021 est.)
Imports (partners) China 18%, Canada 14%, Mexico 14%, Germany 5%, Japan 4% (2022)
Comodities Imports force crude petroleum, cars, broadcasting equipment, garments, computers (2022)
Exports
Imports 2023 $3.832 trillion (2023 est.)
Imports 2022 $3.97 trillion (2022 est.)
Imports 2021 $3.409 trillion (2021 est.)
Exports (partners) Canada 16%, Mexico 15%, China 8%, Japan 4%, UK 4% (2022)
Comodities Exports force refined petroleum, crude petroleum, natural gas, cars, integrated circuits (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $24.662 trillion (2023 est.)
Real GDP (purchasing power parity) 2022 $24.051 trillion (2022 est.)
Real GDP (purchasing power parity) 2021 $23.594 trillion (2021 est.)
GDP (official exchange rate) $27.361 trillion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $73,600 (2023 est.)
Real GDP per capita 2022 $72,200 (2022 est.)
Real GDP per capita 2021 $71,100 (2021 est.)
GDP - composition, by sector of origin
Agriculture 0.9% (2017 est.)
Industry 19.1% (2017 est.)
Services 80% (2017 est.)
GDP - composition, by end use
Household consumption 68.4% (2017 est.)
Government consumption 17.3% (2017 est.)
Investment in fixed capital 17.2% (2017 est.)
Investment in inventories 0.1% (2017 est.)
Exports of goods and services 12.1% (2017 est.)
Imports of goods and services -15% (2017 est.)
Unemployment rate
Unemployment rate 2023 3.63% (2023 est.)
Unemployment rate 2022 3.65% (2022 est.)
Unemployment rate 2021 5.35% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 7.9% (2023 est.)
Male 8.7% (2023 est.)
Female 7.1% (2023 est.)
All Important Facts about United States

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United States is found in North America