Jasmine Directory

The US has a mixed economy, based on a capitalism structure, accounting for one of the world's largest economies. Its GDP, according to the International Monetary Fund accounts for about 22% of the gross world product. The US dollar is one of the most popular world currencies, accounting for most of international transactions.

The United States of America are the largest importers of goods in the world and the second largest exporter, after China and not taking into consideration the entire European Union. Agriculture is an important aspect of American economy, even though it only accounts for about 1% of the country's GDP. It is known as the world's top producer of corn and soybeans, while also having considerable reserves of wheat, sunflowers, barley, peanuts, rice and oats.

The private sector in the US constitutes about 86.4% of the total economy system. The main driving force behind the US economy is manufacturing, even though it's past the industrial phase. Retail and wholesale practices are among the most prolific.

Unemployment rates in USA are settled about at 7.4%, while poverty is at around 15.1%. The country has a public debt of over 16 trillion. The biggest debt holder is China. The US has a close trading partnership with Canada, China, Germany, Japan and Mexico. One of the most valuable trade resources is oil. The US is the world's top consumer and importer of oil in the world, while it holds the third place in terms of producing power. Other industrial areas are centered around liquid natural gas, salt, phosphates and sulfur.