United States

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United States

Sumit Gurav
Sumit Gurav

Country Expert
   

United State Statistics

The United States is the world’s greatest economic power, measured in terms of gross domestic product (GDP). The nation’s wealth is partly a reflection of its rich natural resources and its enormous agricultural output, but it owes more to the country’s highly developed industry. Despite its relative economic self-sufficiency in many areas, the United States is the most important single factor in world trade by virtue of the sheer size of its economy. Its exports and imports represent major proportions of the world total. The United States also impinges on the global economy as a source of and as a destination for investment capital. The country continues to sustain an economic life that is more diversified than any other on Earth, providing the majority of its people with one of the world’s highest standards of living.
$ 1 Trillion
GDP in USA
1
Population (2019)
1 SQ.KM
Total Area
Import Of United States

In 2019, the United States imported goods valuing around 2.5 trillion U.S. dollars from international trading partners.
Main Import Countries

Export Of United States

The United States of America shipped $1.645 trillion worth of goods around the globe in 2019.
Main Export Countries

Major Sectors

IT Sector Automotive Sector Fintech Sector Pharmaceutical industry

The United States has the most advanced software and information technology (IT) services industry in the world. More than 40 percent of the $5 trillion global IT market is in North America, primarily the United States. The industry accounts for $1.8 trillion of U.S. value-added GDP (more than 10 percent of the national economy) and 11.8 million jobs. According to CompTIA, there are more than 525,000 software and IT services companies in the United States (approximately 40,500 tech startups were established in 2018 alone). This total includes software publishers, suppliers of custom computer programming services, computer systems design firms, and facilities management companies. The industry draws on a highly educated and skilled U.S. workforce of nearly two million people, a number which has continued to grow during the past decade.
U.S. software firms operate a mature, harmonized market and have a reputation for producing reliable and effective solutions that accelerate quickly to the marketplace. International companies in the industry have shown a keen interest in the U.S. market because of its strong intellectual property rights laws and enforcement. U.S. companies lead the world's packaged and custom-software markets, and are competitive in nearly all other market segments with a stable overseas market share.

The United States has one of the largest automotive markets in the world. In 2018, U.S. light vehicle sales reached 17.2 million units, the fourth straight year in which sales reached or surpassed 17 million units. Overall, the United States is the world’s second-largest market for vehicle sales and production.
Since Honda opened its first U.S. plant in 1982, almost every major European, Japanese, and Korean automaker has produced vehicles and invested more than $75 billion in the United States. The U.S. affiliates of majority foreign-owned automotive companies directly support more than 400,000 U.S. jobs. Additionally, many automakers have U.S.-based engine and transmission plants, and conduct R&D, design, and testing in the United States. Total foreign direct investment in the U.S. automotive industry reached $114.6 billion in 2018. The automotive industry is also at the forefront of innovation. New R&D initiatives are transforming the industry to better respond to the opportunities of the 21st century. According to Auto Alliance, of the $105 billion spent on R&D globally, almost a fifth ($18 billion) is spent in the United States.

Strong fundraising continued in banking and capital markets ($5.3B) and real estate ($3.1B) fintechs, with those sectors receiving 90 percent of total funding in Q1 2020. USA based fintech investments stand at $4.3B, more than any other country, accounting for 46 percent of total funding in Q1 2020.
Based on our estimates, the market should grow from roughly $181 billion in AUM in 2017 to $608 billion in 2022, which translates to a compound annual growth rate of 27%.

The U.S. pharmaceutical market is the world's most important national market. Together with Canada and Mexico, it represents the largest continental pharma market worldwide. The United States alone holds over 45 percent of the global pharmaceutical market. In 2016, this share was valued around 446 billion U.S. dollars.
The industry accounted for more than $1.3 trillion in economic output, representing 4 percent of total U.S. output in 2015 alone. This total economic impact includes $558 billion in revenue from biopharmaceutical businesses and $659 billion from suppliers and worker spending.

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