United States

USA

The United States is the world’s largest market and it has the world’s  highly developed mixed economy. It is the world’s largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP). It also has the world’s eighth-highest per capita GDP (nominal) and the tenth-highest per capita GDP (PPP) in 2018. USA Gross Domestic Product – GDP-  has consistently seen growth of 2.1% or more since 2014.

It is the largest, most competitive and technologically advanced economy in the world and It is the EU’s top export destination. The U.S. trade deficit increased from $502 billion in 2016 to $552 billion in 2018, an increase of $50 billion or 10%. During 2018, total imports were $2.90 trillion, while exports were $2.35 trillion. The net deficit in goods was $807 billion, while the net surplus in services was $255 billion. The top 5 industries importing into the US are: machinery and mechanical appliances, electrical machinery, automotive equipment, medical & pharmaceuticals, furniture.