The United States economy (0)

The United States and its economy are known to be one of the thriving and strongest in the world. It represents 16.6% of the world’s total GDP. The estimated worth of USA's GDP is estimated to be around 17.5 trillion dollars and dollar being the third currency in the world and the official currency of the US. They also manage a 5% growth every quarter .
So how do they manage it? There are three main sectors that contribute to the USA's GDP. First is services that is 80% of the total GDP. The output of services in 2014 was 13,8 billion dollars witch was the nr.1 in front of European Union’s output witch was 13,4. The second contributing sector is the industry sector which provides 19% of the country ’s GDP. In this area USA has fallen behind and has to accept the third position in the world’s total industry's output. First in industry’s output last year was European Union who had 4,6 billion dollar output, not far was China who had 4,5 billion dollar output and finally USA in third and they had a mere 3,4 billion dollar output. The third contributor to USA's GDP was agriculture and it was only 1.2% of the total production . Agriculture in fourth place in the world as it produces only 192 billion dollar output compared to the leaders Chin with 1036 billion USD (United States Dollars) or India’s 356 or EU's 331 billion dollar output.
USA is also very rich in natural resources. The US has some of the biggest sources of crude oil and natural gas, which also makes it the world’s biggest producer of Oil and Gas. These advantages also influence the industries. Some of USA’s main industry products are petroleum, motor vehicles, aerospace and consumer goods , which are basically impossible to produce without Gas or Oil. The petroleum and fuel oil also make 7.6 % of the country’s exports. Even though the US is the biggest crude oil producer, it can’t satisfy its own industrial and commercial needs . Country has to import crude oil and does it massively, it makes roughly 18% of country’s total imports.
Having a strong economy has always been the ideological thinking of US and the key part of having strong companies and corporations are investments. The main investing is done by citizens but also foreign investors. USA’s financial market is one of the biggest and influential stock markets in the world. The largest located in New York , known as The New York Stock Exchange also known as NYSE or “Big Board ”. The US has 2.4 trillion dollars invested from foreigner while americans own 3.3 trillion dollars of investments in the rest of the world. The large investments into USA comes from the reliable consumer/customer base . The spending of consumers comprises 71% of the US economy in 2013. This means that US has the biggest consumer base in the world and has attracted immigrants from around the globe as shown in studies as Ease of Doing Business and the Global Competitiveness report .
But these impressive numbers also have dark side in form of dept. USA is the biggest dept owner as a county and also have a large dept per person . Budget deficit of USA is 483 billion dollars which has gone down from 2009 crisis . In 2011 the deficit was 440 billion dollars in CAB and 784,775 billion dollars in WTO which was then almost six times bigger than the second place deficit country which was UK wit 162.973 billion dollars deficit. With deficit comes also inflation on the dollar which was 1.7% in December. The dept accumulates from Public finances which were in the minus in 2013. The revenue came from Social insurance 34.2%, income taxes 47.4%, corporate tax 9.9% and other 8.5%. This made a total of 3.95 trillion dollars of revenue which was basically eliminated by the expenses which measured up to 3.95 trillion dollars. The main expenses come from social security 23.2%, defence 17.6%, medicare 14.3%, Medicaid 7.7%, interests 7.5%, unemployment 2%, education 2% and other expenses measuring in 25,7% region .
In that count of expenses you might have noticed that one of the biggest expenses was unemployment, that’s because USA has a major problem with that, so the paying of the unemployment support is so great that it dents the budget of the country a lot. The 2% is actually 71,8 billion dollars and by our standards (Estonian) it’s a gigantic sum of money to waste on people with no jobs and no real