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Measuring Nation Income
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Measuring Nation Income
US's GDP for the last 3 years (2016, 2017, est. 2018)
2017:$18.108 (In Trillions)
2018:$18.638 (In Trillions)
2019: $21,337,900
U.S. Current growth rate this year - last month
U.S. Current Growth Rate is 2.10%
GDP of top 5 world economies
Japan (GDP: 5.36 trillion)
Germany (GDP: 4.42 trillion)
India (GDP: 3.16 trillion)
France (GDP: 3.06 trillion)
United Kingdom (GDP: 3.02 trillion)
Per Capita GDP
Japan: 39,313.457 USD
Germany: 48500.00 USD
India: 2,041.091 USD
France: 44201.07 USD
United Kingdom: 39,720.44 USD
What is the purpose of the GDP deflator?
The GDP deflator is a measure to level the prices of all new, domestically produced, final goods and services in an economy. It is a price index that measure price inflation and deflation by using real and nominal GDP.
What is the trade deficit? Projected
Trade deficit is the amount by which the imports of a country get exceed exports or value of exports of that country. Trade deficit is projected to be 1.6% to $54.9 billion, annually.
Top Import Categories
Machinery including computers: US$386.4 billion (14.8% of total imports)
Electrical machinery, equipment: $367.1 billion (14%)
Vehicles: $306.7 billion (11.7%)
Mineral fuels including oil: $241.4 billion (9.2%)
Pharmaceuticals: $116.3 billion (4.5%)
Optical, technical, medical apparatus: $93.4 billion (3.6%)
Furniture, bedding, lighting, signs, prefab buildings: $72.1 billion (2.8%)
Plastics, plastic articles: $61.9 billion (2.4%)
Gems, precious metals: $60.8 billion (2.3%)
Organic chemicals: $54.6 billion (2.1%)
The countries from whom we import above listed items are; China, Canada, Japan, Mexico, and Germany.
Top Export Categories
Food, beverage and feed: $133 billion.
Crude oil, fuel and other petroleum products: $109 billion.
Civilian aircraft and aircraft engines: $99 billion.
Auto parts, engines and car tires: $86 billion.
Industrial machines: $57 billion.
Passenger cars: $53 billion.
Pharmaceuticals: $51 billion.
Mineral fuels including oil: $189.9 billion
Aircraft, spacecraft: $139.1 billion
Optical, technical, medical apparatus: $89.6 billion
To whom we (U.S.) Exports:
European Union
South Korea
China
United Kingdom
Canada
France
Japan
Pakistan
Mexico
India
Germany
Italy
References
FocusEconomics. (2019). The World's Largest Economies (2019-2023). FocusEconomics | Economic Forecasts from the World's Leading Economists. Retrieved 2 November 2019, from https://www.focus-economics.com/blog/the-largest-economies-in-the-world
Isidore, C. (2019). These are the top US exports. CNNMoney. Retrieved 2 November 2019, from https://money.cnn.com/2018/03/07/news/economy/top-us-exports/index.html
OEC. (2019). United States (USA) Exports, Imports, and Trade Partners . Oec.world. Retrieved 2 November 2019, from https://oec.world/en/profile/country/usa/
Product, G. (2019). United States (USA) GDP - Gross Domestic Product 2019. countryeconomy.com. Retrieved 2 November 2019, from https://countryeconomy.com/gdp/usa
Trading Economics. United States Exports By Country . (2019). Tradingeconomics.com. Retrieved 2 November 2019, from https://tradingeconomics.com/united-states/exports-by-country
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