The United States is one of the most powerful and influential countries in the world, and its economy is the largest and most dynamic in the world. With a population of more than 325 million people, the United States has a diverse landscape and vibrant economy.
In 2019, the United States had a nominal Gross Domestic Product (GDP) of $21.4 trillion, making it the highest-ranked country in the world for economic output. It is the world’s largest exporter of goods and services, accounting for 24% of the world’s total exports. The US is a technology powerhouse, with more than 200,000 tech startups and $178 billion in venture capital investment.
The US economy is driven to a large degree by the service industry, with its professional services accounting for many of the country’s job opportunities. In 2019, services accounted for 79% of the United States’ GDP. Popular services provided by the US workforce include finance, health care, and professional, scientific and technical services.
The US is the world’s second largest manufacturer and its manufacturing sector is a big contributor to GDP. Manufacturing makes up 11.8% of the US economy and it is responsible for more than 12 million jobs. The US economy also relies heavily on its energy sector. In 2019, the US was the world’s top producer of crude oil and its second-largest producer of natural gas.
The US also boasts one of the most advanced and sophisticated financial systems in the world. The US has highly developed stock markets, multiple banking systems, and an extensive range of equity and debt capital markets.
The United States is the world’s leading destination for direct foreign investment, accounting for a sizable share of the world’s total. The US economy has been especially attractive for foreign investors due to its economic stability and its large stock of natural resources.
When examined together, all of these components make the United States an attractive proposition for businesses and investors alike. Its economic output, services, manufacturing, energy and financial systems are some of the reasons why the United States is one of the most influential countries in the world.