General characteristics of the United States economy

General characteristics of the United States economy The US economy is the largest in the world (in 2015 GDP volume), with a strong presence in the various economic sectors. The American economy functions wholly within capitalist parameters. With a strong domestic consumer market, United States production also targets exports. The country produces large quantities of agricultural livestock, but stands out in the production of industrialized products and technology. Much of North American industry is concentrated in the southeastern and northeastern regions, although there is also a large production of manufactured goods in the state of California. The southern region of the country has strong development in the agricultural and mining sector. Tourism in the United States is also of utmost importance to the country's economy. The third most visited country by foreign tourists, the United States receives about 1.5 billion tourists from other countries. Mining is also an economic highlight of the United States. Much of the extraction of oil and natural gas occurs in the states of Texas and Alaska. Mineral coal is mined in the states of Wyoming, Kentucky and West Virginia. The financial center of the country focuses mainly on Wall Street on the island of Manhattan (New York), where is located the largest stock exchange in the world, the New York Stock Exchange. Another highlight of the US economy is the production of software and computer and electronic products. Most of the companies in this sector are located in the region of Silicon Valley, in the city of San Jose in California. United States economy data Main economic sectors: industry, technology, finance, agriculture, mining and tourism. Main industrial regions: southeast, northeast and east coast (mainly California). Currency: American dollar (USD symbol) GDP growth in 2015: 2.4% GDP growth in 2016: 0.8% (in the 1st quarter, revised in July) / 1.2% (in the 2nd quarter) GDP: US $ 17.937 trillion (in 2015) * higher world GDP GDP for the first quarter of 2016: growth of 0.5% Composition of GDP by sector of the economy: services (79.8%), industry (19%) and agriculture (1.2%) - data for 2015 Labor force (estimate 2016): 156.3 million active workers Gini: 40.8 - average (year 2013) Population below poverty line: 14.6% (reference year 2015 - estimate) Unemployment rate: 4.9% (in August 2016) Investments: 12.7% of GDP (in 2014) Public Debt: 102.98% of GDP (in 2014) Central Bank Interest Rate - Federal Reserve (FED): from 0.50% to 0.75% per annum (as of December 15, 2016). Foreign Debt: $ 19.64 trillion (as of March 2016) Inflation Rate: 1.6% (from January to October 2016) - IPC Monetary reserves (in foreign currency and euro): US $ 116,640 billion (in November 2015) Growth of Industrial Production (in July 2014): 0.4% (in relation to the previous month) Main agricultural products produced: corn, cotton, fruits, wheat, vegetables, milk, pork, fish. Main industrialized products produced: automobiles, machinery, airplanes, computers, electronic equipment, ships, chemicals, textiles, processed foods, telecommunications equipment. Main commodities exported: agricultural (wheat, corn, fruit); Industrial supplies (chemical products); (Vehicle engines, computers, telecommunications equipment, transistors). Main economic partners (export): Canada, Mexico, China, Japan and Germany Main economic partners (import): China, Canada, Mexico, Japan and Germany. Exports (in 2014): US $ 1.62 trillion Imports (in 2014): US $ 2.40 trillion Balance of the trade balance: deficit of US $ 1.08 trillion (in 2014) Economic bloc that belongs to: NAFTA (North American Free Trade Agreement) and APEC (Economic Cooperation of Asia and Pacific).