Focusing On Development: Q&A With Bank Of America
Bank of America discusses the elements that go into winning the North American regional Best Bank award.
The United States GDP and Economic Data
Browse economic indicators and data sets, selected by Global Finance editors, to learn more about the United States economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of the U.S. best banks and safest banks are also available.
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Central bank
Board of Governors of the Federal Reserve System
Gross Domestic Product - GDP
USD 22,939.58 billion (2021 estimate)
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GDP (Purchasing Power Parity)
USD 22,939.58 billion (2021 estimate)
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Real GDP growth
| 2017 | 2018 | 2019 | 2020 | 2021 |
| 2.5% | 2.9% | 1.6% | -3.4% | 6.0%* |
*Estimate
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GDP - composition by sector
- agriculture: 0.9%
- industry: 18.2%
- services: 77.3%
(2017 estimate)
Gross domestic expenditure on R&D; (% of GDP)
3.1% (2019)
OECD, retrieved January 2022
Inflation
| 2017 | 2018 | 2019 | 2020 | 2021 |
| 2.1% | 2.4% | 1.8% | 1.2% | 4.3%* |
*Estimate
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Unemployment rate
| 2017 | 2018 | 2019 | 2020 | 2021 |
| 4.4% | 3.9% | 3.7% | 8.1% | 5.4%* |
*Estimate
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Public Debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020 | 2021 |
| 106% | 107.1% | 108.5% | 133.9% | 133.3%* |
*Estimate
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Public Deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020 | 2021 |
| -2.6% | -3.2% | -3.5% | -12.7% | -9.2%* |
*Estimate
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Government bond ratings
Standard & Poor's: AA+
Moody's: Aaa
Standard & Poor's / Moody's
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Market value of publicly traded shares
USD 40,720 billion (2020)
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Current account balance by percentage of GDP
-3.5% (2021 estimate)
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Exports as percent of GDP (Exports of goods and services)
10.1% (2020)
Shares in world total merchandising export
8.1% (2020)
Shares in world total commercial services export
13.5% (2020)
Export commodities
Refined petroleum, crude petroleum, cars and vehicle parts, integrated circuits, aircraft (2019)
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Import commodities
Cars, crude petroleum, computers, broadcasting equipment, packaged medicines (2019)
Exports - major partners
Canada 17%, Mexico 16%, China 7%, Japan 5% (2019)
Imports - major partners
China 18%, Mexico 15%, Canada 13%, Japan 6%, Germany 5% (2019)
FDI inflows
| 2018 | 2019 | 2020 |
| USD 223,401 million | USD 261,412 million | USD 156,321 million |
FDI outflows
| 2018 | 2019 | 2020 |
| USD -194.412 million | USD 93,552 million | USD 92,811 million |
Value of cross-border M&A, by country of purchaser
| 2017 | 2018 | 2019 | 2020 |
| USD 115,333 million | USD 253,354 million | USD 102,913 million | USD 125,192 million |
Cross-border M&A deals worth over $3 billion completed in 2014
Verizon Communications Inc, Verizon Wireless Inc, United States, USD 130.3 billion / Walgreen Co, Alliance Boots GmbH, Switzerland, USD 15.3 billion / Burger King Worldwide Inc, Tim Hortons Inc, Canada, USD 13.4 billion / SAP America Inc, Concur Technologies Inc, United States, USD 9.1 billion / Blackstone Group LP, Gates Corp, United States, USD 5.4 billion / Microsoft Corp, Nokia Oyj-Devices & Services Business, Finland, USD 5.0 billion / Enterprise Products Partners LP, Oiltanking Partners LP, United States, USD 4.6 billion / Fiat North America LLC, Chrysler Group LLC, United States, USD 3.7 billion / Abbott Laboratories, CFR Pharmaceutical SA, Chile, USD 3.3 billion / Investor Group, Nets Holding A/S, Denmark, USD 3.2 billion / Archer Daniels Midland Co, WILD Flavors GmbH, Switzerland, USD 3.1 billion / EnCana Oil & Gas(USA)Inc, Freeport-McMoRan Oil & Gas LLC- Eagle Ford Shale Assets, United States, USD 3.1 billion / Alcoa Inc, Firth Rixson Ltd, United Kingdom, USD 3.0 billion
Cross-border M&A deals worth over $3 billion completed in 2015
Medtronic Inc, Covidien PLC, Ireland, USD 42.7 billion / General Electric Co-Energy Assets, Alstom SA-Energy Businesses, France, USD 10.7 billion / PetSmart Inc SPV, PetSmart Inc, United States, USD 8.4 billion / Honeywell International Inc, Elster Group GmbH, Germany, USD 6.6 billion / Mylan Inc, Abbott Laboratories-Non US Markets Specialty & Branded Generics Business, Netherlands, USD 5.7 billion / Eli Lilly & Co, Novartis AG-Animal Health Division, Switzerland, USD 5.4 billion / Platform Specialty Products Corp, Arysta Lifescience Ltd, Ireland, USD 3.5 billion / Otsuka America Inc, Avanir Pharmaceuticals Inc, United States, USD 3.4 billion / Investor Group, Verallia SA, France, USD 3.2 billion / CommScope Holding Co Inc, TE Connectivity Ltd-Broadband Network Solutions, Switzerland, USD 3.1 billion / Iberdrola USA Inc, UIL Holdings Corp, United States, USD 3.0 billion
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
6 out of 190 countries
Subcategories:
Starting a Business: 55 out of 190 countries
Dealing with Construction Permits: 24 out of 190 countries
Getting Electricity: 64 out of 190 countries
Registering Property: 39 out of 190 countries
Getting Credit: 4 out of 190 countries
Protecting Minority Investors: 36 out of 190 countries
Paying Taxes: 25 out of 190 countries
Trading across Borders: 39 out of 190 countries
Enforcing Contracts: 17 out of 190 countries
Resolving Insolvency: 2 out of 190 countries
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Global competitiveness ranking
Ranking: 25 / Score: 72.1 (Mostly Free)
Index of Economic Freedom
Ranking: 12 / Score: 76.8 (Mostly free)
(100=totally free 0=totally repressed)
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Languages
English only 78.2%, Spanish 13.4%, Chinese 1.1%, other 7.3% (2017 est.) / note: data represent the language spoken at home; the US has no official national language, but English has acquired official status in 32 of the 50 states; Hawaiian is an official language in the state of Hawaii, and 20 indigenous languages are official in Alaska
Religions
Protestant 46.5%, Roman Catholic 20.8%, Jewish 1.9%, Church of Jesus Christ 1.6%, other Christian 0.9%, Muslim 0.9%, Jehovah's Witness 0.8%, Buddhist 0.7%, Hindu 0.7%, other 1.8%, unaffiliated 22.8%, don't know/refused 0.6% (2014 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020 |
| 249.6 million | 282.2 million | 309.3 million | 320.7 million | 329.5 million* |
*Estimate
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Urban population as % of total population
| 1980 | 1990 | 2000 | 2010 | 2020 |
| 70.0% | 75.3% | 73.7% | 79.1% | 82.7% |
% of population living on less than $3.10 a day
1% (last available estimate, 2019)
Inequality of wealth distribution (Gini index)
41.5 (last available estimate, 2016)
(0=perfect equality, 100=absolute inequality)
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Freedom House rating
Total score: 83/100
Status: Free
Political Rights: 32/40
Civil Liberties: 51/60 (2022)
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Total telephone subscribers as % of population
Fixed: 30.7%
Mobile: 106.2% (2020) (fixed-telephone subscribers and mobile-cellular subscribers)
Mercer Cost of living index
New York: 9th
San Francisco: 16th
Los Angeles: 18th
Chicago: 37th
Honolulu: 38th
Washington: 42nd
Miami: 44th
Boston: 49th
White Plains: 56th
Houston: 59th
Dallas: 62nd
Seattle: 64th
Atlanta: 69th
Morristown: 70th
Minneapolis: 78th
Detroit: 90th
St. Louis: 94th
Pittsburgh: 97th
Cleveland: 106th
Portland: 107th
Winston-Salem: 138th
(2019)
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