United States (US, USA or America) Economic Statistics and Indicators

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Economic Indicators For: United States (US, USA or America) › Change country
National or Regional Currency: US Dollar, US$
Year of data: 2015 › Change year
Number of Indicators Listed: 39
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 318,892,103 (July 2014 est.)
Area: total: 9,826,675 sq km ; land: 9,161,966 sq km ; water: 664,709 sq km ; note: includes only the 50 states and District of Columbia, no overseas territories
Natural Resources: coal, copper, lead, molybdenum, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber ; note: the US has the world's largest coal reserves with 491 billion short tons accounting for 27% of the world's total
Capital: name: Washington, DC ; geographic coordinates: 38 53 N, 77 02 W ; time difference: UTC-5 (during Standard Time) ; daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November ; note: the 50 United States cover six time zones

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed, however, would keep short-term rates near zero so long as unemployment and inflation had not crossed the previously stated thresholds. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
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GDP (Constant Prices, National Currency) for United States in year 2015 is US$ 16,348.88 Billion.

GDP Growth (Constant Prices, National Currency) for United States in year 2015 is 2.426 %.

GDP (Current Prices, National Currency) for United States in year 2015 is US$ 17,947.00 Billion.

GDP (Current Prices, US Dollars) for United States in year 2015 is US$ 17,947.00 Billion.

GDP Deflator for United States in year 2015 is 109.775 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for United States in year 2015 is US$ 50,835.92 .

GDP Per Capita (Current Prices, National Currency) for United States in year 2015 is US$ 55,805.20 .

GDP Per Capita (Current Prices, US Dollars) for United States in year 2015 is US$ 55,805.20 .

Output Gap, Percent of Potential GDP for United States in year 2015 is -1.623 %.

GDP (PPP), US Dollars for United States in year 2015 is US$ 17,947.00 Billion.

GDP Per Capita (PPP), US Dollars for United States in year 2015 is US$ 55,805.20 .

GDP Share of World Total (PPP) for United States in year 2015 is 15.809 %.

Implied PPP Conversion Rate for United States in year 2015 is 1 .

Investment (% of GDP) for United States in year 2015 is 20.238 %.

Gross National Savings (% of GDP) for United States in year 2015 is 18.734 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for United States in year 2015 is 236.995 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for United States in year 2015 is 0.118 %.

Inflation, End of Year (Indexed to Year 2000) for United States in year 2015 is 238.211 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for United States in year 2015 is 0.823 %.

Six-month London Interbank Offered Rate (LIBOR) Change % for United States in year 2015 is 0.484 %.

Import Volume of All Items Including Goods and Services (Percent Change) for United States in year 2015 is 4.929 %.

Import Volumes of Goods Only (Percent Change) for United States in year 2015 is 4.792 %.

Export Volume of All Items Including Goods and Services (Percent Change) for United States in year 2015 is 1.137 %.

Export Volumes of Goods Only (Percent Change) for United States in year 2015 is -0.223 %.

Unemployment Rate (% of Labour Force) for United States in year 2015 is 5.283 %.

Employment for United States in year 2015 is 148.839 Million .

Population for United States in year 2015 is 321.601 Million .

General government revenue (National Currency) for United States in year 2015 is US$ 5,733.67 Billions.

General government revenue (% of GDP) for United States in year 2015 is 31.948 %.

General government total expenditure (National Currency) for United States in year 2015 is US$ 6,400.99 Billions.

General government total expenditure (% of GDP) for United States in year 2015 is 35.666 %.

Total Government Net Lending/ Borrowing (National Currency) for United States in year 2015 is US$ -667.321 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for United States in year 2015 is -3.718 %.

General Government Structural Balance (National Currency) for United States in year 2015 is US$ -555.941 Billion.

General Government Structural Balance (% Potential GDP) for United States in year 2015 is -3.048 %.

Fiscal Year Gross Domestic Product, Current Prices for United States in year 2015 is US$ 17,947.00 Billions.

Current Account Balance (US Dollars) for United States in year 2015 is US$ -484.077 Billion.

Current Account Balance (% GDP) for United States in year 2015 is -2.697 %.