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The status of the USA as the world's strongest economic power, which accounts for approximately a fifth of the annual global income, is based on a large, resource-rich and well-developed territory of about 10 million square kilometres. Other factors include the large domestic market (2015: approximately 320 million inhabitants, the gross domestic product for 2014: 17.74 trillion US dollars), great entrepreneurial spirit, free trade economics and a strong financial system.
The US service sector generates some 67 percent of the country’s gross domestic product (GDP), the industrial sector about 20 percent, and agriculture just under 1 percent. The government's contribution to the GDP is around 13 per cent (state and federal).
The gross domestic product (GDP) of the United States grew in 2014 by 2.4 per cent. The economic growth was higher than the value of 2013 (1.5 percent). The higher growth rate is attributed to increased consumer spending and increased investment in the construction sector. Unemployment for the same period was 5.2 percent, with the affected population skewered towards young black males. The current inflation in the country is 1.7 percent.
The US is the world’s largest market for imported goods and stood as the second-largest exporter of good in 2014, behind China. The trade balance of the United States concluded in a deficit of 505 billion USD in 2014. The main trading partners of the United States are Canada, Mexico, China, Japan, Great Britain and Germany.
Why invest in USA?
- The US Dollar enjoys a monopoly in the world market. It is the foremost medium of transactions as well as the most widely-employed reserve currency in the world. This has given US an unparalleled purchasing power and domination in the international economy.
- The US workforce is one of the most diverse and productive in the world.
- With a Human Development Index of 0.891, the US is the tenth most-developed country in the world. This allows for the local population to enjoy high standards of living.
- The United States has one of the largest and most-prosperous domestic markets in the world. A per capita income in excess of 54,000 USD allows the country to have the highest income levels among OECD countries.
- The US’s land territory is huge and has an abundance of natural resources which has allowed the country to be self-sufficient in most raw materials.