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Economy of United States

United States is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, United States is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, United States exports around $1575 billion and imports roughly $2273 billion. 4.4% of population in the country are unemployed. The total number of unemployed people in United States is 14,377,737. In United States, 15.1% of the population lives below the poverty line. The percentage of citizens living below the poverty line in United States is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 5.5% of GDP. The Gini Index of the country is 45. United States is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. United States has a Human Development Index (HDI) of 0.914. United States has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for United States is 2.038. The strength of legal rights index for United States is 11. Overall, it is considered to be rather strong - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible.

Currency

The currency of United States is United States dollar. The United States dollar is one of the most significant currencies in the world, and is used in several territories besides The United States including Puerto Rico, Guam, and The US Virgin Islands. The United States dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word United States dollar is dollars. The symbol used for this currency is $, and it is abbreviated as USD. The United States dollar is divided into Cent; there are 100 in one dollar.

Credit rating

The depth of credit information index for United States is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, United States has a credit rating score of AA+, and the prospects of this rating are stable. According to the Fitch credit-rating agency, United States has a credit rating score of AAA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, United States has a credit rating score of Aaa, and the prospects of this rating are stable.

Central bank

In United States, the institution that manages the state's currency, money supply, and interest rates is called Federal Reserve System.

Public debt

United States has a government debt of 97.02% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in United States is set at 39.1%. Personal income tax ranges from 3% to 55.9%, depending on your specific situation and income level. VAT in United States is 5.75%, and it is known as Sales Tax.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in United States is $17348075 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in United States was last recorded at $53 million. PPP in United States is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in United States is 16,768,050 billion. Based on this statistic, United States is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in United States. The Gross Domestic Product (GDP) per capita in United States was last recorded at $51 million. The average citizen in United States has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in United States averaged 2.4% in 2014. According to this percentage, United States is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of United States.

Industry

Major industries in the country are highly diversified, world leading, high-technology innovator, second-largest industrial output in the world, petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining. The total labor force of United States is 161,455,592 people, wherein 4.4% of population in the country are unemployed. The total number of unemployed people in United States is 14,377,737. The Industrial Production growth rate of United States is 3.3%.To read more about industrial information within United States click on industry of United States.

Agriculture

There are 1650062 km2 of arable land in United States, and it comprises 17% of the country's total territory. There are 1669302 km2 of cultivated land in United States. The country's major agricultural crops and products are wheat, corn, other grains, fruits, vegetables, cotton, beef, pork, poultry, dairy products, fish, forest products.To read more about agriculture click on agriculture of United States.