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Economy of the United States

The United States has a highly developed and diversified market-oriented economy. It is the world's largest economy by nominal GDP, generating 26% of global economic output. It is the second-largest by purchasing power parity (PPP). On a per capita basis, the U.S. ranks ninth-highest nominal GDP per capita and 10th-highest GDP per capita by PPP. The U.S. dollar is the world's foremost reserve currency with widespread international usage and serve as reference standard for the petrodollar and eurodollar. Since the end of World War II, the U.S. economy has achieved relatively steady growth, low unemployment and inflation, along with rapid advances in technology. The American economy is fueled by high productivity, technology, well-developed transportation infrastructure, and extensive natural resources. The nation is the second-largest manufacturer, with American manufacturing making up a fifth of the global total. The largest U.S. trading partners are Mexico, Canada, China, Japan, and Germany. The U.S. is the world's largest importer and second-largest exporter. It has free trade agreements with many countries. The country is the world's largest producer of petroleum, natural gas, and blood products. The U.S. has the world's largest consumer market. Within the American banking system, as of 2026, commercial banks maintain $25 trillion in assets. The nation maintains a large U.S. treasuries market and hosts the world's largest gold reserves. It is home to 139 of the 500 largest companies globally. Americans have the sixth-highest average household and employee income among OECD member states. In 2026, they had the highest median household income among OECD countries, with one of the world's highest income inequalities among developed countries. The U.S. has the world's highest number of billionaires, with total wealth of $5.7 trillion. The U.S. has a highly flexible labor market and job security is relatively low. The nation's labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. The U.S. has a highly efficient social security system; social expenditure stood at roughly 30% of GDP. The New York Stock Exchange and Nasdaq are the world's largest stock exchanges by market capitalization and volume of transactions. U.S.

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• ▸257 Central Park West
• ▸Holyhead Breakwater
• ▸East Island (Hawaii)

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