The Economy of the USA (translation)

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The Economy of the USA
2 курс 3 семестр
The United States of America (also referred to as the United States, the U.S., the USA, or America) is a federal constitutional republic. It consists of 50 states and a federal district (District of Columbia where Washington, its capital, is situated). The country is situated mostly in central North America. It lies between the Pacific and Atlantic Oceans and borders on Canada in the north and Mexico in the south. The territory of the USA is over 9 ml square kilometers. Its population is over 308 million people and unlike Europe and Japan it is young and growing. The USA is one of the world’s most multicultural nations, the product of emigration from many countries.
The U.S. economy is the world’s largest national economy. Its GDP last year was $14.7 trillion. The USA has rich natural resources, a well-developed infrastructure and high productivity. The United States is the largest importer of goods and third largest exporter. Canada, China, Mexico, Japan and Germany are its top trading partners. The economy is postindustrial, with the service sector contributing about 68% of GDP, though the USA remains an industrial power. The country is the third largest producer of oil in the world, as well as the largest importer. It is the world’s number one producer of electrical and nuclear energy, as well as liquid natural gas, sulfur and salt. Main industries include petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, consumer goods, food processing and mining. While agriculture accounts for just under 1% of GDP, the United States is the world’s top producer of corn and soybeans.
Coca-Cola and McDonald’s are the two most recognized brands in the world. Today, The USA is home to 29.6 million small businesses, 30% of the world’s millionaires, 40% of the world’s billionaires, as well as 139 of the world’s 500 largest companies. As a result, The USA has been the birthplace of 161 of Britannica’s 321 Great Inventions, including the airplane, internet, microchip, laser, cell phone, refrigerator, email, microwave, LCD (liquid crystal display) and LED (light-emitting diode) technology, air conditioning, assembly line, supermarket, bar code, electric motor and ATM.
The economy of the USA has its problems. The public debt is over $13 trillion and continues to grow. The USA experienced a lot of trouble during the financial crises of 2007-2010, when many businesses went bankrupt and some banks closed. Last year the official unemployment rate was 9.9% and its trade deficit was $140 billion. But despite all these facts the USA is still the leading economic, political and cultural force in the world.


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