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Economy of USA

The United States of America, commonly termed as United States or US, is a sovereign nation that has 50 states and a federal district. It is the most powerful nation all across the globe. With an estimated GDP of $16.72 trillion in terms of purchasing power parity (PPP), United States has the largest economy in the world. Washington, D.C is the capital and New York City is the largest city of United States of America. The economy of United States is boosted by rich natural resources and high productivity in diverse sectors. When it comes to agricultural sector, United States is not too far away; it makes every single effort which is needed to equip the agriculture sector with innovative and topnotch machinery. From many, some of the agriculture products that are grown in the nation include wheat, fruits, vegetables, beef, pork and dairy products. United States is surrounded with companies that develop high-technology products, these companies are contributing quite well to the economy of United States. The industrial sector of United States is highly diversified one; they have heavy output in sectors like automobiles, petroleum, telecommunications, chemicals, electronics, food processing and consumer goods. The fiscal year of United States starts from 1st October and ends up 30 September.

Imports of United States

United States is the second largest import of the world. The estimated import value of United States is $2.273 trillion as of 2013. US imports high percentage of commodities like agriculture products, industrial supplies, automobiles, auto parts, electric power machinery, electronic items and furniture. China, Canada, Mexico, Japan and Germany are the major import partners of United States.

Exports of United States

United States believes to have minimal restrictions when it comes to imports and exports for the betterment economy. It is the third-largest exporter of the world. The estimated export value of United States is $1.575 trillion as per the calculations of 2013. The predominant export commodities of US include industrial supplies, capital goods, automobiles, technology products, electronics items. United States dispatches a high percentage of exports commodities to Canada and Mexico, while China and Japan are the other main export partners of United States.

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Capital
Washington, D.C.
Dialing Code
+1
Fiscal Year
October 1 - September 30
Currency
US Dollar (USD)
GDP
$14,260,000,000,000
Exports
$1.511 trillion (2011 est.) | Agricultural Products (Soybeans, Fruit, Corn) 9.2%, Industrial Supplies (Organic Chemicals) 26.8%, Capital Goods (Transistors, Aircraft, Motor Vehicle Parts, Computers, Telecommunications Equipment) 49.0%, Consumer Goods (Automobiles, Medicines) 15.0
Imports
$2.314 trillion (2011 est.) | Agricultural Products 4.9%, Industrial Supplies 32.9% (Crude Oil 8.2%), Capital Goods 30.4% (Computers, Telecommunications Equipment, Motor Vehicle Parts, Office Machines, Electric Power Machinery), Consumer Goods 31.8% (Automobiles, Clothing, Medici
Industries
Leading Industrial Power In The World, Highly Diversified And Technologically Advanced; Petroleum, Steel, Motor Vehicles, Aerospace, Telecommunications, Chemicals, Electronics, Food Processing, Consumer Goods, Lumber, Mining