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Economy of the United States

Population: 319 million in 2014[1]

GDP: $16.8 billion in 2013[2]

GDP Per Capita: $53,042 nominal[3] ($53,042 PPP[4]) in 2013

GDP Growth Rate: 2.4% in 2014[5]

Industries

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GDP by industry in 2013[6]

Industry GDP $ millions 2013 % of total GDP
Real estate and rental leasing 2,178,614 13.04%
Government 2,087,589 12.50%
Health care and social assistance 1,200,938 7.19%
Professional, scientific and technical services 1,172,107 7.02%
Finance and insurance 1,114,594 6.67%
Durable manufacturing 1,096,437 6.56%
Wholesale trade 998,685 5.98%
Non-durable manufacturing 983,081 5.89%
Retail trade 956,302 5.73%
Information 802,378 4.80%
Construction 611,374 3.66%
Administrative and waste management 505,340 3.03%
Transportation and warehousing 490,257 2.94%
Agriculture 469,099 2.81%
Mining 449,352 2.69%
Accommodation and food services 360,630 2.16%
Management of companies and enterprises 327,891 1.96%
Utilities 287,068 1.72%
Educational service 187,077 1.12%
Arts, entertainment and recreation 162,548 0.97%
Total 16,701,415 100%

Employment

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Unemployment rate: 5.5% in Feb 2015[7]

Non-farm employment by industry in May 2014[8]

Industry Employment thousands May 2014 Percent of total employment
Government 21,869 15.79%
Health care and social assistance 18,030 13.02%
Retail trade 15,319 11.06%
Accommodation and good services 12,498 9.03%
Administrative and waste services 8,695 6.28%
Professional and technical services 8,316 6.01%
Financial activities 7,919 5.72%
Durable manufacturing 7,636 5.51%
Construction 6,004 4.34%
Wholesale trade 5,863 4.23%
Other services 5,511 3.98%
Transportation and warehousing 4,599 3.32%
Non-durable manufacturing 4,463 3.22%
Education services 3,401 2.46%
Information 2,655 1.92%
Management of companies and enterprises 2,134 1.54%
Arts, entertainment and recreation 2,090 1.51%
Real estate and rental and leasing 2,043 1.48%
Mining 851 0.62%
Utilities 551 0.40%
Logging 54 0.04%
Total 138,463 100%

Corporations

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Top 10 corporations by revenue in 2013[9]

Rank Corporation Revenue $ millions 2013 Profit $ millions 2013 Assets $ millions 2013 Market Cap $ millions (Mar 31, 2014) Employees Headquarters Industry
1 Wal-Mart Stores 476,294 16,022 204,751 246,806 Bentonville,AR Retail
2 Exxon Mobile 407,666 32,580 346,808 422,099 Irving, TX Oil and Gas
3 Chevron 220,356 21,423 253,753 227,015 San Ramon, CA Energy
4 Berkshire Hathaway 182,150 19,476 484,931 308,003 Omaha, NE Diversified
5 Apple 170,910 37,037 207,000 479,069 Cupertino, CA Technology
6 Phillips 66 161,175 3,726 49,798 45,282 Houston, TX Oil and Gas
7 General Motors 155,427 5,346 166,344 54,720 Detroit, MI Auto
8 Ford Motor 146,917 7,155 202,026 61,524 Detroit, MI Auto
9 General Electric 146,231 13,057 656,560 259,547 Fairfield, CT Diversified
10 Valero 137,758 2,720 47,260 28,276 San Antonio, TX Oil and Gas
  • List of United States corporations by revenue

Households

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Household Wealth: $83.7 trillion (498% of GDP) in 2014[10]

Household Wealth per Adult: $347,845 in 2013[11]

Gini Coefficient: .411 in 2010[12]

Assets of Households and Nonprofit Organizations Q3 2014[13]

Assets $ billions Percent of total
Real estate 23,151 24.3%
Pension entitlements 20,499 21.5%
Corporate equities 12,884 13.5%
Deposits 10,106 10.6%
Equity in noncorporate business 9,188 9.6%
Mutual fund shares 7,620 8.0%
Consumer durable goods 5,058 5.3%
Credit market instruments 3,365 3.5%
Miscellaneous assets 2,279 2.4%
Total assets 95,410 100%

Liabilities of Households and Nonprofit Organizations Q3 2014[14]

Liabilities $ billions 2011 Percent of total
Home mortgages (including lines of credit) 9,882 72%
Other debt 3,884 28%
Total liabilities 13,767 100%

Government Finance

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Central Government

Central Government Revenue: $2.78 trillion (17% of GDP) in FY 2013[15]

Central Government Expenditure: $3.45 trillion (21% of GDP) in FY 2013[16]

Central Government Budget Balance: $679 billion (-4% of GDP) in FY 2013[17]

Central Government 10 Year Bond Interest Rate: 2.17% on Dec 31 2014[18]

State and Local Government

State and Local Government Revenue: $3.03 trillion (18% of GDP) in FY 2012[19]

State and Local Government Expenditure: $3.11 trillion (19% of GDP) in FY 2012[20]

State and Local Government Budget Balance: $118 billion (-1% of GDP) in FY 2012[21]

State and Local Government Debt: $2.94 trillion (18% of GDP) in FY 2012[22]

Public Funds

State and local funds: $5.30 trillion (31% of GDP) on Jun 30, 2012[23]

Social Security Trust Fund: $2.76 trillion (16% of GDP) on Dec 31, 2013 [24]

Tax Structure

Personal Income Tax Rates and Income Thresholds in 2013[25]

  • 10%: $0-$8,925
  • 15%: $8,925-$36,250
  • 25%: 36,250-$87,850
  • 33%: $183,250-$398,350
  • 35%: $398,350-$400,000
  • 39.6%: $400,000+

Corporate Tax Rate: 39.1% in 2014[26]

Central Government Revenue by Source FY 2011[27]

Source of revenue Amount ($ millions) Percent of total revenue
Individual income taxes 1,091,473 47.40%
Social Security receipts 818,792 35.50%
Corporate taxes 181,085 7.80%
Misc. taxes 101,846 4.40%
Excise taxes 72,381 3.10%
Customs and duties 29,519 1.20%
Estate and gift taxes 7,399 0.30%
Total 2,302,495 100%

Central Government Expense by Source FY 2011[28]

Department Amount ($ millions) Percent of total expenses
Health and Human Services 891,244 24.76%
Social Security Administration 784,194 21.79%
Defense-Military 678,073 18.84%
Treasury 538,702 14.97%
Agriculture 139,399 3.87%
Labor 131,973 3.67%
Veterans Affairs 126,917 3.53%
Transportation 77,302 2.15%
Office of Personal Management 74,091 2.06%
Education 65,486 1.82%
Housing and Urban Development 57,005 1.58%
Other Defense Civil Programs 54,862 1.52%
Homeland Security 45,744 1.27%
Energy 31,372 0.87%
Justice 30,518 0.85%
State 24,355 0.68%
International Assistance Programs 24,355 0.68%
National Aeronautics and Space Administration 17,617 0.49%
Other independent agencies 14,496 0.40%
Interior 13,529 0.38%
Environmental Protection Agency 10,770 0.30%
Corps of Engineers 10,138 0.28%
Commerce 9,930 0.28%
Judiciary 7,295 0.20%
National Science Foundation 7,146 0.20%
Small Business Administration 6,162 0.17%
Legislative 4,583 0.13%
General Services Administration 1,889 0.05%
Total 3,599,285 100%

Monetary Policy

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Monetary Base (M0): $3.99 trillion (24% of GDP) on Dec 24, 2014[29]

Benchmark Interest Rate: 0.25% on Dec 31 2014[30]

Total Reserves: $448 billion (3% of GDP) in 2013[31]

Exchange Rate: 1 U.S. Dollar = 1 U.S. Dollar

Inflation Rate: 0.0% in Feb 2015[32]

Financial Institutions

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Top 10 Financial Institutions by Assets Dec 31, 2013

Rank Bank Assets ($ millions) 12/31/13[33] Revenue ($ millions 2013)[34] Profit ($ millions) 2013[35] Market Cap ($ millions) Mar 31, 2014[36] Employees ___ Headquarters[37]
1 JPMorgan Chase 2,415,689 106,283 17,923 229,793 New York, NY
2 Bank of America 2,104,995 101,697 11,431 181,086 Charlotte, NC
3 Citigroup Inc. 1,880,382 93,629 13,673 144,627 New York, NY
4 Wells Fargo & Company 1,527,015 88,069 21,878 261,218 San Francisco, CA
5 The Goldman Sachs Group 911,595 40,874 8,040 73,646 New York, NY
6 Morgan Stanley 832,702 36,848 2,932 61,581 New York, NY
7 American International Group 541,329 68,678 9,085 73,218 New York, NY
8 General Electric Capital Corporation 516,829[38] 44,067[39] 5,906[40] Fairfield, CT
9 The Bank of New York Mellon 374,310 15,691 2,111 40,056 New York, NY
10 U.S. Bancorp 364,021 21,059 5,836 78,008 Minneapolis, MN
  • List of financial institutions by assets

International Accounts

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Exports: $2.27 trillion (13% of GDP) in 2013[41]

Imports: $2.74 trillion (16% of GDP) in 2013[42]

Trade Balance: -$470 billion (-3% of GDP) in 2013[43]

Foreign Direct Investment Inflow: $236 billion (1% of GDP) in 2013[44]

Foreign Direct Investment Outflow: $350 billion (2% of GDP) in 2013[45]

Foreign Aid Inflow: N/A

Foreign Aid Outflow: $31.9 billion (0.2% of GDP) in 2013[46]

References

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  1. ↑ http://data.worldbank.org/indicator/SP.POP.TOTL
  2. ↑ http://data.worldbank.org/indicator/NY.GDP.PCAP.CD
  3. ↑ http://data.worldbank.org/indicator/NY.GDP.PCAP.CD
  4. ↑ http://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD
  5. ↑ http://www.theguardian.com/business/2015/feb/27/us-economy-slows-fourth-quarter-2014-gdp
  6. ↑ http://www.bea.gov/iTable/index_regional.cfm
  7. ↑ http://data.bls.gov/timeseries/LNS14000000
  8. ↑ http://www.bls.gov/news.release/empsit.t17.htm
  9. ↑ http://fortune.com/fortune500/wal-mart-stores-inc-1/
  10. ↑ https://www.credit-suisse.com/us/en/news-and-expertise/research/credit-suisse-research-institute/publications.html
  11. ↑ https://www.credit-suisse.com/us/en/news-and-expertise/research/credit-suisse-research-institute/publications.html
  12. ↑ http://data.worldbank.org/indicator/SI.POV.GINI
  13. ↑ http://www.federalreserve.gov/releases/z1/current/z1r-5.pdf
  14. ↑ http://www.federalreserve.gov/releases/z1/current/z1r-5.pdf
  15. ↑ http://www.gpo.gov/fdsys/browse/collection.action?collectionCode=BUDGET&browsePath=Fiscal+Year+2015&searchPath=Fiscal+Year+2015&leafLevelBrowse=false&isCollapsed=false&isOpen=true&packageid=BUDGET-2015-TAB&ycord=822
  16. ↑ http://www.gpo.gov/fdsys/browse/collection.action?collectionCode=BUDGET&browsePath=Fiscal+Year+2015&searchPath=Fiscal+Year+2015&leafLevelBrowse=false&isCollapsed=false&isOpen=true&packageid=BUDGET-2015-TAB&ycord=822
  17. ↑ http://www.gpo.gov/fdsys/browse/collection.action?collectionCode=BUDGET&browsePath=Fiscal+Year+2015&searchPath=Fiscal+Year+2015&leafLevelBrowse=false&isCollapsed=false&isOpen=true&packageid=BUDGET-2015-TAB&ycord=822
  18. ↑ http://www.bloomberg.com/quote/USGG10YR:IND
  19. ↑ http://www2.census.gov/govs/local/summary_report.pdf
  20. ↑ http://www2.census.gov/govs/local/summary_report.pdf
  21. ↑ http://www2.census.gov/govs/local/summary_report.pdf
  22. ↑ http://www2.census.gov/govs/local/summary_report.pdf
  23. ↑ http://www2.census.gov/govs/local/summary_report.pdf
  24. ↑ http://www.ssa.gov/oact/STATS/table4a3.html
  25. ↑ http://stats.oecd.org/
  26. ↑ http://taxfoundation.org/article/corporate-income-tax-rates-around-world-2014
  27. ↑ http://www.treasury.gov/press-center/press-releases/Documents/101212%20Tables%202%20and%203.pdf
  28. ↑ http://www.treasury.gov/press-center/press-releases/Documents/101212%20Tables%202%20and%203.pdf
  29. ↑ http://research.stlouisfed.org/fred2/series/BASE/
  30. ↑ http://www.newyorkfed.org/markets/omo/dmm/fedfundsdata.cfm
  31. ↑ http://data.worldbank.org/indicator/FI.RES.TOTL.CD
  32. ↑ http://www.reuters.com/article/2015/03/24/us-usa-economy-inflation-idUSKBN0MK1DB20150324
  33. ↑ http://www.ffiec.gov/nicpubweb/nicweb/top50form.aspx
  34. ↑ http://fortune.com/fortune500/j-p-morgan-chase-co-18/
  35. ↑ http://fortune.com/fortune500/j-p-morgan-chase-co-18/
  36. ↑ http://fortune.com/fortune500/j-p-morgan-chase-co-18/
  37. ↑ http://fortune.com/fortune500/j-p-morgan-chase-co-18/
  38. ↑ http://hsprod.investis.com/ir/general-electric/sec_filings/jsp/sec_item_new.jsp?ipage=9427901&DSEQ=&SEQ=&SQDESC=&xcomp=1
  39. ↑ http://hsprod.investis.com/ir/general-electric/sec_filings/jsp/sec_item_new.jsp?ipage=9427901&DSEQ=&SEQ=&SQDESC=&xcomp=1
  40. ↑ http://hsprod.investis.com/ir/general-electric/sec_filings/jsp/sec_item_new.jsp?ipage=9427901&DSEQ=&SEQ=&SQDESC=&xcomp=1
  41. ↑ http://www.bea.gov/newsreleases/international/trade/2014/pdf/trad1213.pdf
  42. ↑ http://www.bea.gov/newsreleases/international/trade/2014/pdf/trad1213.pdf
  43. ↑ http://www.bea.gov/newsreleases/international/trade/2014/pdf/trad1213.pdf
  44. ↑ http://www.oecd.org/investment/FDI-in-Figures-Dec-2014.pdf
  45. ↑ http://www.oecd.org/investment/FDI-in-Figures-Dec-2014.pdf
  46. ↑ http://www.oecd.org/dac/stats/data.htm
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