The United States’ economy is a highly developed market economy.
It has the world’s largest economy in terms of nominal GDP and net worth, and the second-largest in terms of purchasing power parity (PPP) after China.
The United States possesses the world’s most technologically advanced and inventive economy.
Its companies are at or near the cutting edge of scientific advancements, particularly in artificial intelligence, computers, pharmaceuticals, and medical, aeronautical, and military technology.
| Population | 332,403,650 (1-Jan-2022) |
|---|---|
| GDP | $24.79 trillion (est 2022) |
| GDP rank | 1st (nominal; 2022) 2nd (PPP; 2022) |
| GDP per capita | $74,725 (est 2022) |
| GDP per capita rank | 7th (nominal; 2022) 8th (PPP; 2022) |
| Average gross salary | $63,093 (2018) |
| Median gross salary | $1,010 weekly (Q4, 2021) |
| Exports | $2.127 trillion (2020) |
| Main export partners |  European Union  Canada  Mexico  China  Japan |
| Imports | $2.808 trillion (2020) |
| Main import partners | China European Union Mexico Canada Japan |
| Gross external debt | $21.3 trillion (December 2020) |
| Public debt | 128.6% of GDP (FY 2020) |
| Foreign reserves | $41.8 billion (August 2020) |
The United States dollar is the most widely used currency in international transactions and the world’s primary reserve currency, supported by its economy, military, the petrodollar system, and a significant U.S. treasury market.
It is the official money of certain nations and the de facto currency of others.
China, the European Union, Canada, Mexico, India, Japan, South Korea, the United Kingdom, and Taiwan are the top trading partners of the United States.
The United States is the world’s greatest importer and the world’s second-largest exporter.
It has free trade agreements in place or negotiations with a number of nations, including the USMCA, Australia, South Korea, Israel, and others.
Last Updated on 2 years by pinc