United State Business information
United States of America
United State Business information-The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC. Midwestern metropolis Chicago is known for influential architecture and on the west coast, Los Angeles’ Hollywood is famed for film making.
Capital: Washington, D.C.
Dialing code: +1
President: Donald Trump
Population: 323.1 million (2016)
States: California, Florida, Texas, Hawaii, Alaska, Massachusetts, MORE
United States GDP 1960-2017
The Gross Domestic Product (GDP) in the United States was worth 18569.10 billion US dollars in 2016. The GDP value of the United States represents 29.95 percent of the world economy. GDP in the United States averaged 6770.94 USD Billion from 1960 until 2016, reaching an all time high of 18569.10 USD Billion in 2016 and a record low of 543.30 USD Billion in 1960.
The United States is the world’s largest economy, accounting for 15.8% of global GDP (in purchasing power parity terms), and is ranked the 7th best country in the world in terms of ease of doing business (World Bank) in 2016. Despite the uncertainty regarding future policy direction after the 2016 election, the economic recovery is gaining traction and the American private sector is in great shape with corporate profitability at an all-time high and a record amount of cash. Consumers are also spending more now that the housing market is gaining strength and confidence is positive. Canada and the United States have the largest trading relationship in the world, with over 75% of Canada’s total exports going to the United States in 2015. As a result, we see excellent potential and export investment opportunities that match Canadian potential, which will deepen this already superb trading relationship.
United State Business information
United States Top 10 Imports goods
September 10, 2017
America imported US$2.252 trillion worth of goods from around the globe in 2016, up by 40.6% since 2009 but down by -2.4% from 2015 to 2016.
United States top 10 imports accounted for two-thirds (66.8%) of the overall value of American product purchases from other countries.
US imports represent 13.7% of the estimated $16.473 trillion in total global imports for 2015.
From a continental perspective, 45.7% of America’s total imports by value in 2016 were purchased from Asian countries.
North American trade partners supplied 25.8% of import sales to the US while 21.5% worth originated from Europe. Importers in Latin America (excluding Mexico) and the Caribbean make a smaller percentage of important purchases at 5%.
Given America’s population of 324 million people, its total $2.252 trillion in 2016 imports translates to roughly $6,900 in yearly product demand from every person in the country.
The following product groups represent the highest dollar value in America’s import purchases during 2016. Also shown is the percentage share each product category represents in terms of overall imports into the US.
- Electrical machinery, equipment: US$336 billion (14.9% of total imports)
- Machinery including computers: $315.4 billion (14%)
- Vehicles: $285 billion (12.7%)
- Mineral fuels including oil: $163.4 billion (7.3%)
- Pharmaceuticals: $92.5 billion (4.1%)
- Optical, technical, medical apparatus: $80.8 billion (3.6%)
- Gems, precious metals: $67.3 billion (3%)
- Furniture, bedding, lighting , signs, prefab buildings: $63.1 billion (2.8%)
- Plastics, plastic articles: $50.4 billion (2.2%)
- Organic chemicals: $49.8 billion (2.2%)
America’s imported vehicles had the fastest-growing increase in value among the top 10 import categories, up 113.7% for the 7-year period starting in 2009.
In second place for expanding import purchases was furniture, bedding, lighting, signs and prefab buildings up 94.5% led by seats, lamps and lighting fixtures.
American imports of gems and precious metals delivered the third-fastest gain at 80.9% led by diamonds, gold, jewelry and silver.
Mineral fuels including oil was the laggard among the top 10 American imports, posting a -41.5% decline in value driven by major reductions in the value of imported crude oil, petroleum gas and coal.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.
Key Industries of United State America
Automotive & Heavy Truck
Food & Beverage
Knowledge Based Industries
Oil and Gas