Economy of United States
Currency	United States Dollar (USD)
Fiscal year	1 October - 30 September
Trade organisations	NAFTA, WTO, OECD and others
Statistics
GDP (PPP)	$13.84 trillion(2007 est.) (1st)
GDP growth	5.2% (2007 est.)
GDP per capita	$46,000 (2007 est.)
GDP by sector	agriculture (0.9%), industry (20.6%), services (78.5%)
Inflation (CPI)	4.0% (Mar 2007 to Mar 2008)[1]
Population below poverty line	12% (2006 est.)
Labour force	153.1 million (includes unemployed) (2007 est.)
Labour force by occupation	managerial and professional (35.5%), technical, sales and administrative support (24.8%), services (16.5%), manufacturing, mining, transportation, and crafts (24%), farming, forestry, and fishing (0.6%) (excludes unemployed) (2007)
Unemployment	4.6% (2007)
Main industries	petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining, defense
External
Exports	$1.14 trillion f.o.b. (2007 est.)
Export goods	agricultural products (soybeans, fruit, corn) 9%, industrial supplies (organic chemicals) 27%, capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49%, consumer goods (automobiles, medicines) 15% (2003)
Main export partners	Canada 22%, Mexico 12%, China 10%, Japan 6%, Germany 5%, United Kingdom 5%[2]
Imports	$1.987 trillion f.o.b. (2007 est.)
Import goods	agricultural products 5%, industrial supplies 33% (crude oil 8%), capital goods 30% (computers, telecommunications equipment, motor vehicle parts, office machines, electric power machinery), consumer goods 32% (automobiles, clothing, medicines, furniture, toys) (2003)
Main import partners	China 19%, Canada 16%, Mexico 11%, Japan 8%, Germany 5%
Gross External Debt	$12.25 trillion (30 June 2007)
Public finances
Public debt	$9 trillion (2007)
Revenues	$2.568 trillion (2007)
Expenses	$2.731 trillion (2007)
Economic aid	ODA $19 billion, 0.2% of GDP (2004) [3]
Main data source: CIA World Factbook All values, unless otherwise stated, are in US dollars

The economy of the United States has been the world's largest national economy since the late 1890s;^[1] its gross domestic product (GDP) was estimated as $13.8 trillion in 2007.^[2] It is a mixed economy and private firms make the majority of microeconomic decisions, while being regulated by the government. The U.S. economy maintains a moderate level of output per person (GDP per capita, $32,700 in 2007, ranked within the top ten highest by most sources). The U.S. economy has maintained a low overall GDP growth rate, a low unemployment rate, and high levels of research and capital investment. Major economic concerns in the U.S. include national debt, external debt, entitlement liabilities for retiring baby boomers who have already begun entering the Social Security system, corporate debt, mortgage debt, a low savings rate, low wages, and a large current account deficit. Image File history File links Download high resolution version (1000x750, 128 KB)Close up picture of a dollar bill, just because there wasnt a single image on the dollar page. ... USD redirects here. ... is the 274th day of the year (275th in leap years) in the Gregorian calendar. ... is the 273rd day of the year (274th in leap years) in the Gregorian calendar. ... NAFTA redirects here. ... WTO redirects here. ... The Organisation for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... PPP of GDP for the countries of the world (2003). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... Petro redirects here. ... For other uses, see Steel (disambiguation). ... Vehicles are non-living means of transport. ... Look up aerospace in Wiktionary, the free dictionary. ... Telecommunication involves the transmission of signals over a distance for the purpose of communication. ... The chemical industry comprises the companies that produce industrial chemicals. ... This article is about the engineering discipline. ... Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. ... Timber in storage for later processing at a sawmill roni Lumber or timber is a term used to describe wood, either standing or that has been processed for use — from the time trees are felled, to its end product as a material suitable for industrial use — as structural material for... This article is about mineral extractions. ... The defense industry refers primarily to: Defense contractors: business organizations or individuals that provide products or services to a defense department of a government. ... It has been suggested that this article or section be merged into Development aid. ... USD redirects here. ... For other uses, see World (disambiguation). ... GDP redirects here. ... Look up trillion in Wiktionary, the free dictionary. ... Microeconomics is the study of the economic behaviour of individual consumers, firms, and industries and the distribution of production and income among them. ... Output is the term denoting either an exit or changes which exits a system and which activate/modify a process. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... This article is about the concept. ... // Definition Investment or investing is a term with several closely-related meanings in finance and economics. ... Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ... A baby boom is defined as a period of increased birth rates relative to surrounding generations. ... Social Security, in the United States, currently refers to the Federal Old-Age, Survivors, and Disability Insurance (OASDI) program. ... A Corporate bond is a bond issued by a corporation, as the name suggests. ... This article is about the legal mechanism used to secure property in favor of a creditor. ... For other uses, see Debt (disambiguation). ... In common usage, saving generally means putting money aside, for example, by putting money in the bank or investing in a pension plan. ... Blue = countries in current account surplus; Red = countries in current account deficit, 2005 The current account of the balance of payments is the sum of the balance of trade (exports less imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as... This article is about budget deficits. ...

As of June 2007, the gross U.S. external debt was $12 trillion,^[3] (see List of countries by external debt).^[4] The most recent estimate of gross public debt (also known as national debt and refers to what is owed by the combined public sector to both domestic and foreign creditors; see List of countries by public debt and global debt) was 37% of GDP in 2007, which was lower than that of Japan, Italy, France, Germany, Canada, India, Brazil, or the United Kingdom. The national debt includes the amount of the cumulative government deficits and interest. Map of countries by external debt based on 2005 CIA factbook figures This is a list of countries by gross (i. ... Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ... Map of countries by public debt This is a list of countries by public debt as percentage of gross domestic product, based on The World Factbook. ... Flows 2004 Global debt and equity underwriting reached a record $5. ...

History

Main article: Economic history of the United States

The economic history of the United States has its roots in European settlements in the 16th, 17th, and 18th centuries. The American colonies progressed from marginally successful colonial economies to a small, independent farming economy, which in 1776 became the United States of America. In 230 years the United States grew to a huge, integrated, industrialized economy that makes up over a quarter of the world economy. The main causes were a large unified market, a supportive political-legal system, vast areas of highly productive farmlands, vast natural resources (especially timber, coal and oil), and an entrepreneurial spirit and commitment to investing in material and human capital. The economy has maintained high wages, attracting immigrants by the millions from all over the world. The economic history of the United States has its roots in European settlements in the 16th, 17th, and 18th centuries. ... Motto: (traditional) In God We Trust (official, 1956–present) Anthem: The Star-Spangled Banner Capital Washington, D.C. Largest city New York City Official language(s) None at the federal level; English de facto Government Federal Republic  - President George W. Bush (R)  - Vice President Dick Cheney (R) Independence - Declared - Recognized... The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). ...

After The Great Depression

For many years following the Great Depression of the 1930s, recessions—periods of slow economic growth and high unemployment—were viewed as the greatest of economic threats. When the danger of recession appeared most serious, government sought to strengthen the economy by spending heavily itself or cutting taxes so that consumers would spend more, and by fostering rapid growth in the money supply, which also encouraged more spending. In the 1970s, economic woes brougtht on by the costs of the Vietnam conflict, major price increases, particularly for energy, created a strong fear of inflation. As a result, government leaders came to concentrate more on controlling inflation than on combating recession by limiting spending, resisting tax cuts, and reining in growth in the money supply. For other uses, see The Great Depression (disambiguation). ... In macroeconomics, a Recession is a decline in any countrys Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. ...

Ideas about the best tools for stabilizing the economy changed substantially between the 1960s and the 1990s. In the 1960s, government had great faith in fiscal policy—manipulation of government revenues to influence the economy. Since spending and taxes are controlled by the president and the U.S. Congress, these elected officials played a leading role in directing the economy. A period of high inflation, high unemployment, and huge government deficits weakened confidence in fiscal policy as a tool for regulating the overall pace of economic activity. Instead, monetary policy assumed growing prominence. Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      For other uses, see President of the United States (disambiguation). ... Congress in Joint Session. ...

Since the stagflation of the 1970s, the U.S. economy has been characterized by somewhat slower growth. Stagflation, a portmanteau of the words stagnation and inflation, is a term in general use within modern macroeconomics used to describe a period of out-of-control price inflation combined with slow-to-no output growth, rising unemployment, and eventually recession. ...

The worst recession in recent decades, in terms of lost output, occurred in the 1973-75 period of oil shocks, when GDP fell by 3.1 percent, followed by the 1981-82 recession, when GDP dropped by 2.9 percent.[4] An Energy Crisis is any great shortfall (or price rise) in the supply of energy to an economy. ...

In 1985, the U.S. began its growing trade deficit with China.

Output fell by 1.3 percent in the 1990-91 downturn, and a tiny 0.3 percent in the 2001 recession. The 2001 downturn lasted just eight months.[5]

In recent years, the primary economic concerns have centered on: high national debt ($9 trillion), high corporate debt ($9 trillion), high mortgage debt (over $10 trillion as of 2005 year-end), high unfunded Medicare liability ($30 trillion), high unfunded Social Security liability ($12 trillion), and high external debt (amount owed to foreign lenders), high trade deficits, and a serious deterioration in the United States net international investment position (NIIP) (-24% of GDP).^[5] In 2006, the U.S economy had its lowest saving rate since 1933.^[6] These issues have raised concerns among economists and national politicians.^[7] Balance of trade figures are the sum of the money gained by a given economy by selling exports, minus the cost of buying imports. ... A countrys international investment position (IIP) is a financial statement setting out the value and composition of that countrys external financial assets and liabilities. ... Economists are scholars conducting research in the field of economics. ...

The U.S. economy maintains a relatively high GDP per capita, with the caveat that it may be elevated by borrowing, a low to moderate GDP growth rate, nd a low unemployment rate, making it attractive to immigrants worldwide. GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... Immigration is the act of moving to or settling in another country or region, temporarily or permanently. ...

Overview

United States wealth compared to the rest of the world in the year 2000

Year-on-year change in United States net worth 1946-2007

A central feature of the U.S. economy is a reliance on private decision-making ("economic freedom") in economic decision-making.^[8] This is enhanced by relatively low levels of regulation, taxation, and government involvement,^[9] as well as a court system that generally protects property rights and enforces contracts.

The United States is rich in mineral resources and fertile farm soil, and it is fortunate to have a moderate climate. It also has extensive coastlines on both the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes—five large, inland lakes along the U.S. border with Canada—provide additional shipping access. These extensive waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit.^{[citation needed]} Atlantic and North Atlantic redirect here. ... Gulf of Mexico in 3D perspective. ... The Great Lakes from space The Great Lakes are a group of five large lakes on or near the United States-Canadian border. ...

The number of available workers and, more importantly, their productivity help determine the health of the U.S. economy. Throughout its history, the United States has experienced steady growth in the labor force, a phenomenon both cause and effect of almost constant economic expansion. Until shortly after World War I, most workers were immigrants from Europe, their immediate descendants, or African Americans who were mostly slaves taken from Africa, or slave descendants. Beginning in the early 20th century, many Latin Americans immigrated; followed by large numbers of Asians following removal of nation-origin based immigration quotas. The promise of high wages brings many highly skilled workers from around the world to the United States. “The Great War ” redirects here. ... An African American (also Afro-American, Black American, or simply black) is a member of an ethnic group in the United States whose ancestors, usually in predominant part, were indigenous to Africa. ... A world map showing the continent of Africa Africa is the worlds second-largest and second most-populous continent, after Asia. ... Latin America consists of the countries of South America and some of North America (including Central America and some the islands of the Caribbean) whose inhabitants mostly speak Romance languages, although Native American languages are also spoken. ... An Asian American is a person of Asian ancestry or origin who was born in or is an immigrant to the United States. ...

Labor mobility has also been important to the capacity of the American economy to adapt to changing conditions. When immigrants flooded labor markets on the East Coast, many workers moved inland, often to farmland waiting to be tilled. Similarly, economic opportunities in industrial, northern cities attracted black Americans from southern farms in the first half of the 20th century. The U.S. Southern states or the South, also known colloquially as Dixie, constitute a distinctive region covering a large portion of the United States, with its own unique heritage, historical perspective, customs, musical styles, and cuisine. ...

In the United States, the corporation has emerged as an association of owners, known as stockholders, who form a business enterprise governed by a complex set of rules and customs. Brought on by the process of mass production, corporations such as General Electric have been instrumental in shaping the United States. Through the stock market, American banks and investors have grown their economy by investing and withdrawing capital from profitable corporations. Today in the era of globalization American investors and corporations have influence all over the world. The American government has also been instrumental in investing in the economy, in areas such as providing cheap electricity (such as from the Hoover Dam), and military contracts in times of war. For other uses, see Corporation (disambiguation). ... Mass production is the production of large amounts of standardised products on production lines. ... GE redirects here. ... A stock market is a market for the trading of company stock, and derivatives of same; both of these are securities listed on a stock exchange as well as those only traded privately. ... Puxi side of Shanghai, China. ... For the dam near Westerville, Ohio, see Hoover Dam (Ohio). ...

While consumers and producers make most decisions that mold the economy, government has a powerful effect on the U.S. economy in at least four areas. Strong government regulation in the U.S. economy started in the early 1900s with the rise of the Progressive Movement; prior to this the government promoted economic growth through protective tariffs and subsidies to industry, built infrastructure, and established banking policies, including the gold standard, to encourage savings and investment in productive enterprises. Progressive Movement is the term used to refer collectively to several various movements around the world that adhere to progressivism. ...

Government intervention

Regulation and control

The U.S. federal government regulates private enterprise in numerous ways. Regulation falls into two general categories.
This article is about the federal government of the United States. ...

Economic regulation

Some efforts seek, either directly or indirectly, to control prices. Traditionally, the government has sought to prevent monopolies such as electric utilities from raising prices beyond the level that would ensure them reasonable profits. At times, the government has extended economic control to other kinds of industries as well. In the years following the Great Depression, it devised a complex system to stabilize prices for agricultural goods, which tend to fluctuate wildly in response to rapidly changing supply and demand. A number of other industries—trucking and, later, airlines—successfully sought regulation themselves to limit what they considered as harmful price cutting. This article is about the economic term. ...

Another form of economic regulation, antitrust law, seeks to strengthen market forces so that direct regulation is unnecessary. The government—and, sometimes, private parties—have used antitrust law to prohibit practices or mergers that would unduly limit competition. Antitrust is also the name for a movie, see Antitrust (movie) Antitrust or competition laws legislate against trade practices that undermine competitiveness or are considered to be unfair. ...

In 1933, Congress created the Federal Deposit Insurance Corporation (FDIC) which presently guarantees checking and savings deposits in member banks up to $100,000 per depositor to prevent bank failures. This was in response to the widespread bank runs of the early 1930s during the Great Depression. The FDIC logo The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. ... Deposit may refer to: Finance A deposit is a specific sum of money taken and held on account, by a bank as a service provided for its clients. ... A poster for the 1896 Broadway melodrama The War of Wealth depicts a typical 19th century bank panic in the U.S. A bank run (also known as a run on the banks) is a type of financial crisis. ... For other uses, see The Great Depression (disambiguation). ...

Monetary policy

United States historical inflation rate 1666-2004

Main article: Federal Reserve System

The federal government attempts to use both monetary policy (control of the money supply through mechanisms such as changes in interest rates) and fiscal policy (taxes and spending) to maintain low inflation, high economic growth, and low unemployment. A relatively independent central bank, known as the Federal Reserve, was formed in 1913 to provide a stable currency and monetary policy. The U.S. dollar has been regarded as one of the most stable currencies in the world and many nations back their own currency with U.S. dollar reserves. During the last few years, the U.S. dollar has gradually depreciated in value and its reserve currency status is no longer as high as previously. Image File history File links US_Historical_Inflation_Ancient. ... Image File history File links US_Historical_Inflation_Ancient. ... The Fed redirects here. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        Monetary policy is the process by which the government, central bank... Fiscal policy is the economic term that defines the set of principles and decisions of a government in setting the level of public expenditure and how that expenditure is funded. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        Monetary policy is the process by which the government, central bank... This article is about the type of currency, for the U.S. Dollar see United States dollar. ...

The dollar used gold standard and/or silver standard from 1785 until 1975, when it became a fiat currency. For other uses, see Gold standard (disambiguation). ... The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. ... Look up fiat in Wiktionary, the free dictionary. ...

Money supply

Components of US money supply (currency, M1, M2, and M3) since 1959

The most common measures are named M0 (narrowest), M1, M2, and M3. In the United States they are defined by the Federal Reserve as follows:

• M0: The total of all physical currency, plus accounts at the central bank that can be exchanged for physical currency.
• M1: M0 - those portions of M0 held as reserves or vault cash + the amount in demand accounts ("checking" or "current" accounts).
• M2: M1 + most savings accounts, money market accounts, and small denomination time deposits (certificates of deposit of under $100,000).
• M3: M2 + all other CDs, deposits of eurodollars and repurchase agreements.

The Federal Reserve ceased publishing M3 statistics in March 2006, explaining that it costs a lot to collect the data but does not provide significantly useful information.^[10] The other three money supply measures continue to be provided in detail. It has been suggested that this article or section be merged with Current account (banking). ... The passbook is the traditional document to keep track of earnings in a savings account Savings accounts are accounts maintained by commercial banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money (by, for example, writing a cheque). ... The money market is a general term for the markets in which banks lend to and borrow from each other, trade financial instruments such as Certificates of Deposit (CDs) or enter agreements such as Repos and Reverses. ... A certificate of deposit or CD is, in the United States, a time deposit, a familiar financial product, commonly offered to consumers by banks, thrift institutions, and credit unions. ... Eurodollars are deposits denominated in United States dollar at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve. ... Repurchase agreements (RPs or Repos) are financial instruments used in the money markets and capital markets. ...

Social regulations

Since the 1970s, government has also exercised control over private companies to achieve social goals, such as improving the public's health and safety or maintaining a healthy environment. For example, the Occupational Safety and Health Administration provides and enforces standards for workplace safety, and in the case of the United States Environmental Protection Agency provides standards and regulations to maintain air, water, and land resources. The U.S. Food and Drug Administration regulates what drugs may reach the market, and also provides standards of disclosure for food products. OSHA logo The United States Occupational Safety and Health Administration (OSHA) is an agency of the United States Department of Labor. ... EPA redirects here. ... “FDA” redirects here. ...

American attitudes about regulation changed substantially during the final three decades of the 20th century. Beginning in the 1970s, policy makers grew increasingly concerned that economic regulation protected inefficient companies at the expense of consumers in industries such as airlines and trucking. At the same time, technological changes spawned new competitors in some industries, such as telecommunications, that once were considered natural monopolies. Both developments led to a succession of laws easing regulation.

While leaders of America's two most influential political parties generally favored economic deregulation during the 1970s, 1980s, and 1990s, there was less agreement concerning regulations designed to achieve social goals. Social regulation had assumed growing importance in the years following the Depression and World War II, and again in the 1960s and 1970s. During the 1980s, the government relaxed labor, consumer and environmental rules based on the idea that such regulation interfered with free enterprise, increased the costs of doing business, and thus contributed to inflation. The response to such changes is mixed; many Americans continued to voice concerns about specific events or trends, prompting the government to issue new regulations in some areas, including environmental protection. Deregulation is the process by which governments remove, reduce, or simplify restrictions on business and individuals in order to (in theory) encourage the efficient operation of markets. ...

Where legislative channels have been unresponsive, some citizens have turned to the courts to address social issues more quickly. For instance, in the 1990s, individuals, and eventually the government itself, sued tobacco companies over the health risks of cigarette smoking. The 1998 Tobacco Master Settlement Agreement provided states with long-term payments to cover medical costs to treat smoking-related illnesses. The Tobacco Master Settlement Agreement (MSA) was the largest civil settlement in United States history. ...

Direct services

Each level of government provides many direct services. The federal government, for example, is responsible for national defense, backs research that often leads to the development of new products, conducts space exploration, and runs numerous programs designed to help workers develop workplace skills and find jobs (including higher education). Government spending has a significant effect on local and regional economies—and even on the overall pace of economic activity.

State governments, meanwhile, are responsible for the construction and maintenance of most highways. State, county, or city governments play the leading role in financing and operating public schools. Local governments are primarily responsible for police and fire protection. Politics of the United States takes place in a framework of a presidential republic, whereby the President of the United States is head of state, head of government, and of a two-party legislative and electoral system. ...

Overall, federal, state, and local spending accounted for almost 28% of gross domestic product in 1998.^[11]

Direct assistance

Government also provides many kinds of help to businesses and individuals. It offers low-interest loans and technical assistance to small businesses, and it provides loans to help students attend college. Government-sponsored enterprises buy home mortgages from lenders and turn them into securities that can be bought and sold by investors, thereby encouraging home lending. Government also actively promotes exports and seeks to prevent foreign countries from maintaining trade barriers that restrict imports. The government sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress. ...

Government supports individuals who cannot or will not adequately care for themselves. Social Security, which is financed by a tax on employers and employees, accounts for the largest portion of Americans' retirement income. The Medicare program pays for many of the medical costs of the elderly. The Medicaid program finances medical care for low-income families. In many states, government maintains institutions for the mentally ill or people with severe disabilities. The federal government provides food stamps to help poor families obtain food, and the federal and state governments jointly provide welfare grants to support low-income parents with children. Social Security, in the United States, currently refers to the Federal Old-Age, Survivors, and Disability Insurance (OASDI) program. ... President Johnson signing the Medicare amendment. ... Medicaid is the US health insurance program for individuals and families with low incomes and resources. ... The Food Stamp Program is a federal assistance program that provides food to low income people living in the United States. ...

Many of these programs, including Social Security, trace their roots to the New Deal programs of Franklin D. Roosevelt, who served as the U.S. president from 1933 to 1945. This article is about the policy program of US President Franklin D Roosevelt. ... FDR redirects here. ...

Many other assistance programs for individuals and families, including Medicare and Medicaid, were begun in the 1960s during President Lyndon Johnson's (1963–1969) War on Poverty. Although some of these programs encountered financial difficulties in the 1990s and various reforms were proposed, they continued to have strong support from both of the United States' major political parties. Critics argued, however, that providing welfare to unemployed but healthy individuals actually created dependency rather than solving problems. Welfare reform legislation (the Personal Responsibility and Work Opportunity Act) passed in 1996 under President Bill Clinton (1993–2001) and a Republican Congress requires people to work, job search, enter training, or receive education as a condition of receiving benefits and imposes federal limits on how long individuals may receive payments (states may adopt stronger limits). Lyndon Baines Johnson (August 27, 1908–January 22, 1973), often referred to as LBJ, was an American politician. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Welfare reform is the name for a policy change in countries with a state-administered social welfare system to reduce dependence on welfare, as demanded by political conservatives. ... The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA, Pub. ... William Jefferson Bill Clinton (born William Jefferson Blythe III[1] on August 19, 1946) was the 42nd President of the United States, serving from 1993 to 2001. ... GOP redirects here. ...

National budget

National debt

Main article: United States public debt

The national debt, also known as the U.S. public debt (part of which is the gross federal debt), is the overall collective sum of yearly budget deficit owed by all branches of the United States government, plus interest. The economic significance of this debt and its potential ramifications for future generations of Americans are controversial issues in the United States. The history of the United States national debt, relative to gross domestic product, since 1791. ... The history of the United States national debt, relative to gross domestic product, since 1791. ... The U.S. public debt, commonly called the national debt or the gross federal debt, is the amount of money owed by the United States federal government. ... A budget deficit occurs when an entity (often a government) spends more money than it takes in. ...

As of January 30, 2008, the total U.S. federal debt was approximately $9.2 trillion, or about $79,000 in average for each of the 117 million American taxpayers. The borrowing cap debt ceiling as of 2005 stood at $8.18 trillion.^[12] In March 2006, Congress raised that ceiling an additional $0.79 trillion to $8.97 trillion, which is approximately 68% of GDP.^[13] Congress has used this method to deal with an encroaching debt ceiling in previous years, as the federal borrowing limit was raised in 2002 and 2003.^[14]

While the U.S. national debt is the world's largest in absolute size, a more convenient measure is that of its size relative to the nation's GDP. When the national debt is put into this perspective it appears considerably less today than in past years, particularly during World War II. By this measure, it is also considerably less than those of other industrialized nations such as Japan and roughly equivalent to those of several Western European nations.^[15]

Sectors

Sales per sector compared to employees per sector in the United States economy in the year 2002

Sectors of the US economy ranked by number of sales, receipts, or shipments in the year 2002. Includes both employers and nonemployers

Sectors of the U.S. Economy in 2002 - firms with payroll - All Sector Totals^[16]

Industrial production growth rate: 3.2% (2005 est.) This article is about mineral extractions. ... A public utility is a company that maintains the infrastructure for a public service. ... For other uses, see Construction (disambiguation). ... Manufacturing (from Latin manu factura, making by hand) is the use of tools and labor to make things for use or sale. ... In commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells individual items or small quantities to the general public or end user customers, usually in a shop, also called store. ... For the movement of people or objects, see transport. ... Inside Green Logistics Co. ... The ASCII codes for the word Wikipedia represented in binary, the numeral system most commonly used for encoding computer information. ... Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... Renting is an agreement where a payment is made for the temporary use of a good owned by another person or company. ... This article is about a property agreement in private law. ... For other uses, see Management (disambiguation). ... For the company, see Waste Management, Inc. ... A physician visiting the sick in a hospital. ... Welfare has four main meanings. ... “Fun” redirects here. ... Accommodation is a theological principle linked to divine revelation within the Christian church. ... The foodservice (or food service) industry (US English; catering industry in British English) encompasses those places, institutions, and companies responsible for any meal eaten away from home. ... Public Administration can be broadly described as the development, implementation and study of government policy. ...

Electricity:

• production: 3.979 trillion kWh (2004)
• consumption: 3.717 trillion kWh (2004)
• exports: 22.9 billion kWh (2004)
• imports: 34.21 billion kWh (2004)

Electricity - production by source:

• fossil fuel: 71.6%
• hydro: 5.6%
• nuclear: 20.6%
• other: 2.3% (2001)

Oil:

• production: 7.61 million barrel/day (2005 est.)
• consumption: 20.03 million barrel/day (2003 est.)
• exports: 1.048 million barrel/day (2004 est.)
• imports: 13.15 million barrel/day (2004 est.)
• net imports: 12.097 million barrel/day (2004 est.)
• proved reserves: 22.45 billion barrel (1 January 2002)

Natural gas:

• production: 531.1 billion cu m (2004 est.)
• consumption: 635.1 billion cu m (2004 est.)
• exports: 24.18 billion cu m (2004 est.)
• imports: 120.6 billion cu m (2004 est.)
• proved reserves: 5.451 trillion cu m (1 January 2005 est.)

Agriculture - products: wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish

Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products

Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages

Agriculture

Main article: Agriculture in the United States

Further information: United States Department of Agriculture

Agriculture is a major industry in the United States and the country is a net exporter of food. Agriculture is a major industry in the United States and the country is a net exporter of food. ... USDA redirects here. ...

Financial

Total US derivatives and total US wealth 1995-2007 compared to total world wealth in the year 2000

International trade

External debt: Liabilities to foreigners

Gross U.S. liabilities to foreigners are $16.3 trillion as at end 2006.(over 100% of GDP). The U.S. Net International Investment Position (NIIP)^[17] deteriorated to a negative $2.5 trillion at the end of 2006,^[18] or about minus 19% of GDP.

This figure rises as long as the US maintains an imbalance in trade, specifically, when the value of imports substantially outweighs the value of exports. It should be noted that this external debt does not, for the most part, represent lending to Americans or the American government, nor is it consumer debt owed to non-US creditors. Rather, the external debt is an accounting entry that largely represents US domestic assets purchased with trade dollars and owned overseas, largely by US trading partners.^[19] However, this is not the whole picture, as foreign holdings of government debt currently amount to about 27% of the total, or some 2 trillion dollars.^[20] This article is about economic exchange. ...

For countries like the United States, a large net external debt is created when the value of foreign assets (debt and equity) held by domestic residents is less than the value of domestic assets held by foreigners. In simple terms, as foreigners buy property in the US, this adds to the external debt. When this occurs in greater amounts than Americans buying property overseas, nations like the United States are said to be debtor nations, but this is not conventional debt like a loan obtained from a bank.^[21] However, foreigners also purchase U.S. debt instruments, such as government bonds, which are forms of conventional debt.

If the external debt represents foreign ownership of domestic assets, the result is that rental income, stock dividends, capital gains and other investment income is received by foreign investors, rather than by US residents. On the other hand, when US debt is held by overseas investors, they receive interest and principal repayments. As the trade imbalance puts extra dollars in hands outside of the US, these dollars may be used to invest in new assets (foreign direct investment, such as new plants) or be used to buy existing US assets such as stocks, real estate and bonds. With a mounting trade deficit, the income from these assets increasingly transfers overseas. Balance of trade figures are the sum of the money gained by a given economy by selling exports, minus the cost of buying imports. ...

Of major concern is the fact that the magnitude of the NIIP (or net external debt) is quite a bit larger than most national economies. Fueled by the sizable trade deficit, the external debt is so large that many wonder if the trade situation can be sustained in the long term. Complicating the matter is that many of America's trading partners, such as China, depend for much of their entire economy on exports, and especially exports to America. Many controversies exist about the current trade and external debt situation, and it is arguable whether anyone understands how these dynamics will play out in an historically unprecedented floating exchange rate system. While various aspects of the U.S. economic profile have precedents in the situations of other countries (notably government debt as a percentage of GDP), the sheer size of the US, and the integral role of the US economy in the overall global economic environment, create considerable uncertainty about the future.

Trade agreements

US Free Trade Agreements

Further information: United States Court of International Trade, Canada-United States Free Trade Agreement, United States International Trade Commission, United States free trade agreements, North American Free Trade Agreement, Organization of American States, and Security and Prosperity Partnership of North America

The U.S. is a member of several international trade organizations. The purpose of joining these organizations is to come to agreement with other nations on trade issues, although there is some disagreement among U.S. citizens as to whether or not the U.S. government should be making these trade agreements in the first place. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... The United States Court of International Trade is an Article III court, with full powers in law and equity. ... The Free Trade Agreement (FTA) was a trade agreement signed by Canada and the United States on January 2, 1988. ... USITC, Washington, DC The U.S. International Trade Commission (USITC) is an independent, non-partisan, quasi-judicial federal agency of the United States that provides trade expertise to both the legislative and executive branches of government, determines the impact of imports on U.S. industries, and directs actions against certain... NAFTA redirects here. ... Headquarters Washington, D.C. Official languages English, French, Portuguese, Spanish Membership 35 countries Leaders  -  Secretary General José Miguel Insulza Chile (since 26 May 2005) Establishment  -  Charter first signed 30 April 1948 in effect 1 December 1951  Website http://www. ... The Security and Prosperity Partnership of North America is a region-level dialogue with the stated purpose of providing greater cooperation on security and economic issues. ...

Imports and exports

Proportions

Proportion of US exports to imports 1960-2004 Image File history File links No higher resolution available. ...

U.S. exports of goods and services 1960-2004 Image File history File links No higher resolution available. ...

U.S. imports of goods and services 1960-2004 Image File history File links No higher resolution available. ...

Imports and exports by country

US exports in 2006 Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 60 KB, MIME type: image/png)This bubble map shows the global distribution of US exports (f. ...

US exports of goods by country in 2004 (does not include exports of services) Image File history File links No higher resolution available. ...

US imports of goods by country in 2004 (does not include imports of services) Image File history File links No higher resolution available. ...

The United States is the most significant nation in the world when it comes to international trade. For decades, it has led the world in imports while simultaneously remaining as one of the top three exporters of the world.

As the major epicenter of world trade, the United States enjoys leverage that many other nations do not. For one, since it is the world's leading consumer, it is the number one customer of companies all around the world. Many businesses compete for a share of the United States market. In addition, the United States occasionally uses its economic leverage to impose economic sanctions in different regions of the world. USA is the top export market for almost 60 trading nations worldwide.

Since it is the world's leading importer, there are many U.S. dollars in circulation all around the planet. The stable U.S. economy and fairly sound monetary policy has led to faith in the U.S. dollar as the world's most stable currency, although that may be changing in recent times.

In order to fund the national debt (also known as public debt), the United States relies on selling U.S. treasury bonds to people both inside and outside the country, and in recent times the latter have become increasingly important. Much of the money generated for the treasury bonds came from U.S. dollars which were used to purchase imports in the United States.

US trade by nation

Wealth

Distribution of wealth

Main article: Wealth in the United States

U.S. mean family net worth by percentile of net worth (1989-2004)

Wealth in the United States is commonly measured in terms of net worth which is the sum of all assets, including home equity minus all liabilities. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ...

Poverty

Main article: Poverty in the United States

There is significant disagreement about poverty in the United States, particularly over how poverty ought to be defined. Using radically different definitions, two major groups of advocates have claimed variously that (a) the United States has eliminated poverty over the last century;^[24] or (b) it has such a severe poverty crisis that it ought to devote significantly more resources to the problem.^{[citation needed]} The debate includes how poverty should be defined. Percent below each countrys official poverty line, according to the CIA factbook. ... A boy from an East Cipinang trash dump slum in Jakarta, Indonesia shows what he found. ...

Measures of poverty can be either absolute or relative. Absolute poverty is defined in real dollar values, whereas relative poverty is a comparison of the highest to the lowest standard of living at a particular time period. Poverty that is so extreme that people cannot even meet the basic human necessities like food, clothes and shelter is known as absolute poverty. ... Relative poverty is a poverty measure based on a poor standard of living or a low income relative to the rest of society. ...

Private income

Main articles: Household income in the United States and Personal income in the United States

This graphic shows the distribution of gross annual household income. The floors above the top black line represent those households with incomes of or exceeding $100,000. The floors below the bottom black line represent those households below the poverty threshold. In order to live on the top floor of the American income strata, a household's annual gross income must exceed $200,000.

For information on the income of individuals, see Personal income in the United States. ... For information on household income, see Household income in the United States. ... This graph shows the educational attainment since 1947. ... This graph shows the percentage of persons with the degree mentioned or higher. ... Image File history File linksMetadata Download high-resolution version (784x1280, 719 KB) Summary I created the graph myself using 2005 US Census Burau Data. ... Image File history File linksMetadata Download high-resolution version (784x1280, 719 KB) Summary I created the graph myself using 2005 US Census Burau Data. ...

Distribution of income

Main article: Household income in the United States

Before-tax U.S. family income distribution 1989-2004 (mean)

For information on the income of individuals, see Personal income in the United States. ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ...

Income inequality

Main article: Income inequality in the United States

The United Nations Development Programme Report 2006 on income equality ranks the United States as tied for 73rd out of 126 countries, as measured by the Gini coefficient. (See List of countries by income equality.) The Gini coefficient for the U.S. was 45 in 2007, according to the CIA. The richest 10% make 16 times as much as the poorest 10%, and the richest 20% make 8 times as much as the poorest 20%. (See List of countries by income equality.) This graph shows the household income of the given percentiles from 1967 to 2003, in 2003 dollars. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... World map of the Gini coefficient This is a list of countries or dependencies by Income inequality metrics, sorted in ascending order according to their Gini coefficient. ... World map of the Gini coefficient This is a list of countries or dependencies by Income inequality metrics, sorted in ascending order according to their Gini coefficient. ...

International comparison

ISO 4217 Code CHF User(s) Switzerland, Liechtenstein, Campione dItalia Inflation 1. ... This article is about the U.S. state. ... The United States dollar is the official currency of the United States. ... C$ redirects here. ... The New Zealand dollar (ISO 4217: NZD, sometimes NZ$ and often informally known as the Kiwi dollar) is the official currency of New Zealand, the Cook Islands, Niue, Tokelau, and the Pitcairn Islands. ... GBP may be: short for Game Boy Player the ISO currency code for the British Pound Sterling. ... ISO 4217 Code AUD User(s) Australia, Kiribati, Nauru, Tuvalu, Christmas Island, Cocos (Keeling) Islands, and Norfolk Island Inflation 1. ... ISO 4217 Code ILS User(s) Israel, The West Bank, Gaza Strip Inflation -0. ... EUR is an initialism that may mean: Euro, the currency; Esposizione Universale Roma, a neighbourhood of Rome built for the World Fair Esposizione universale (1942). Erasmus Universiteit Rotterdam (Erasmus University of Rotterdam, the Netherlands) This page concerning a three-letter acronym or abbreviation is a disambiguation page — a navigational aid... This article is about the country. ... GBP may be: short for Game Boy Player the ISO currency code for the British Pound Sterling. ... Official language(s) English Capital Charleston Largest city Charleston Largest metro area Charleston metro area Area  Ranked 41st  - Total 24,244 sq mi (62,809 km²)  - Width 130 miles (210 km)  - Length 240 miles (385 km)  - % water 0. ... ISO 4217 Code HKD User(s) Hong Kong Inflation 2. ... ISO 4217 Code SGD User(s) Singapore, Brunei Inflation 1% Source The World Factbook, 2006 est. ...

Unemployment

Economic predictions and forecasting

Predictions about the direction of the United States economy in the short term and long term are crucial factors in determining federal government policies, business decisions, and Federal Reserve decisions. Several institutions make economic predictions, including: Global Insight, and the UCLA Anderson Forecast. Various state agencies, including the California Department of Finance, also make predictions.

Other statistics

Historic exchange rates:

	Jan 2008	Jan 2007	Jan 2006	Jan 2005	Jan 2004	Jan 2003	Jan 2002	2001*	2000*	1999*	1998	1997
Canadian dollars per U.S. dollar	0.982	1.165	1.164	1.204	1.293	1.576	1.600	1.548	1.485	1.485	1.483	1.384
Japanese yen per U.S. dollar |112.1|	119.0	118.1	102.5	107.2	118.7	132.6	121.5	107.7	113.9	130.9	120.9
Euros per US dollar	0.6803	.7577	.8444	.7387	.7939	.9534	1.128	1.062	.9947	.8557	-	-
British pounds per U.S. dollar	0.5009	0.5104	0.5812	0.5209	0.5600	0.6212	0.6981	0.6944	0.6596	0.6180	0.6037	0.6106
French francs per U.S. dollar	-	-	-	-	-	-	-	-	-	5.65	5.899	5.836
Italian lire per U.S. dollar	-	-	-	-	-	-	-	-	-	1,668.7	1,763.2	1,703.1
German deutschmarks per U.S. dollar	-	-	-	-	-	-	-	-	-	1.69	1.969	1.734
Note: financial institutions in France, Italy, Germany, and eight other European countries started using the euro on 1 January 1999, with the euro replacing the local currency for all transactions in 2002. Their 1999 figures are for January.
*January 1 exchange rates

C$ redirects here. ... Yen redirects here. ... For other uses, see Euro (disambiguation). ... For details of notes and coins, see British coinage and British banknotes. ... ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... ISO 4217 Code ITL User(s) Italy, San Marino, Vatican City, but not Campione dItalia Inflation 2. ... A 10 Deutsche Mark banknote from Germany 1993 showing Carl Friedrich Gauss (http://www. ... is the 1st day of the year in the Gregorian calendar. ... Events of 2008: (EMILY) Me Lesley and MIley are going to China! This article is about the year. ...

See also

• Income in the United States
• Household income in the United States
• Personal income in the United States
• Income inequality in the United States
• Affluence in the United States
• Wealth in the United States
• American Dream
• Balance of payments
• Economy of Puerto Rico
• American trade
• List of United States companies
• National debt by U.S. presidential terms - Includes federal spending and GDP
• Economic history of the United States
• List of industry trade groups in the United States
• Subprime mortgage crisis
• Recession of 2008

The percentage of households and individuals in each income bracket. ... For information on the income of individuals, see Personal income in the United States. ... For information on household income, see Household income in the United States. ... This graph shows the household income of the given percentiles from 1967 to 2003, in 2003 dollars. ... The percentage of households and individuals over the age of 25 with incomes exceeding $100,000 in the US.[1][2] Affluence in the United States refers to an individuals or households state of being in an economically favorable position in contrast to a given reference group. ... Wealth in the United States is commonly measured in terms of net worth which is the sum of all assets, including home equity minus all liabilities. ... For other uses, see American Dream (disambiguation). ... The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ... The Economy of Puerto Rico is one of the most dynamic in the Caribbean region. ... American Trade, the trade that the United States has with foreign nations or within itself. ... This is a list of companies from the United States: #Current companies #Former companies, including acquired and merged ones #By industry #By location #See also Contents: Top - 0–9 A B C D E F G H I J K L M N O P Q R S T U... This table lists the change in the United States public debt divided by Gross Domestic Product listed by Presidential term. ... The economic history of the United States has its roots in European settlements in the 16th, 17th, and 18th centuries. ... The subprime mortgage crisis is an ongoing problem manifesting itself through liquidity issues in the banking system which have become more prevalent due to foreclosures which accelerated in the United States in late 2006 and triggered a global financial crisis during 2007 and 2008. ...

References

2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 52nd day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 19th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 81st day of the year (82nd in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 365th day of the year (366th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 277th day of the year (278th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 365th day of the year (366th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 280th day of the year (281st in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 15th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 282nd day of the year (283rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 81st day of the year (82nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 19th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 19th day of the year in the Gregorian calendar. ...

Other references

• Bureau of Economic Analysis Historical Gross Domestic Product Estimates
• [US Bureau of Labor Statistics Employment status of the civilian noninstitutional population, 1940 to date]
• 2008 Poverty Guidelines US Dept of Health and Human Services
• Who Are the Real Free Traders in Congress?

External links

• [CIA - The World Factbook - United States]
• Outline of the U.S. Economy
• U.S. Economy Stats at a Glance
• Bureau of Economic Analysis: Selected NIPA tables (Lots of U.S. economic data)
• U.S. Economic Calendar
• U.S. Census Bureau
• U.S. Dept of Labor - Bureau of Labor Statistics
• U.S. Dept of Commerce - Bureau of Economic Analysis
• FRB: Z.1 Release-- Flow of Funds Accounts of the United States, Release Dates
• OECD's United States country Web site and OECD Economic Survey of the United States
• U.S. Energy Information Administration
• National Bureau of Economic Research (USA) Economics material from the organization that declares Recessions and Recoveries.
• Bureau of Labor Statistics–from the American Labor Department
• [US Department of Commerce Economics Statistics]
• The Heritage Foundation: Understanding Poverty in America
• The Possible Collapse of the American Economy at 2007
• GDP growth viz Savings rate since 1985 Comparing GDP growth rate with the Savings rate since 1985
• Gross Domestic Product Growth - USA
• Unemployment Rate - USA
• Consumer Price Index - USA
• Dollars & Sense
• A U.S.-Colombia Free Trade Agreement: Strengthening Democracy and Progress in Latin America

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Portal

v • d • e North American Free Trade Agreement (NAFTA)
Canada • Mexico • United States

v • d • e Members of the World Trade Organization (WTO)

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WTO redirects here. ... Image File history File links Size of this preview: 800 × 370 pixelsFull resolution (1357 × 628 pixel, file size: 19 KB, MIME type: image/png)World map of World Trade Organization (WTO) members/non-members, 2005; based on Image:BlankMap-World-v2. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Bruneis economy. ... Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... The economies of the special administrative regions of Hong Kong and Macau are separate from the rest of the Peoples Republic of China. ... Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth, yet the economy of the DROC has declined drastically since the mid-1980s. ... This article or section does not cite its references or sources. ... The economy of Costa Rica heavily depends on tourism, agriculture, and electronics exports. ... The Ivorian economy is largely market based and depends heavily on the agricultural sector. ... The Dominican Republic is a middle-income developing country primarily dependent on agriculture, trade, and services, especially tourism. ... This article does not cite its references or sources. ... If it is considered as a single state, the economy of the European Unions twenty-seven member states is the worlds largest economy. ... Economy - overview: The breakup of Yugoslavia in 1991 deprived F.Y.R.O.M. (Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... This article needs to be updated. ... The Economy of Hong Kong is widely believed, and some argue incorrectly, to be the most economically free in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(Chŏn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD Statistics [1] GDP ranking 10th by volume (at nominal) (2006); 11th by volume (at PPP) (2006); GDP (Nominal) $897. ... The Economy of New Zealand is a small but prosperous free market economy, which is greatly dependent on international trade, mainly with Australia, the United States of America and Japan. ... Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... South Africa has a two-tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. ... With an economy of $27. ... Republic of China (ROC) has a dynamiccapitalist economy with gradually decreasing guidance of investment and foreign trade by the government. ... Trinidad and Tobago experienced a real growth rate of 3. ... // The United Arab Emirates has a highly industrialized economy that makes the country one the most developed in the world, based on various socioeconomic indicators such as GDP per capita, energy consumption per capita, and the HDI. At $168 billion in 2006, the GDP of the UAE ranks second in... All twenty-seven member states of the European Union are also members of the WTO in their own right: Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands and Netherlands Antilles • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom. Special Administrative Region of the People's Republic of China. Designated name for the Republic of China (Chinese Taipei)