Current state of the US Economy doc. Ing. Tomáš Dudáš, PhD.
Quiz Global rank of the US economy according to GDP? GDP? GDP/c? Unemployment? Inflation? Largest US corporation? Chef of FED? Basic FED interest rate? Openness of the economy? Largest export partner?
US Economy – Basic Data Nominal GDP – 16,72 billion USD (2013 est.) GDP/c – 52 800 USD (2013 est.) GDP by sectors – 1,1 %-19,5 %-79,4 % Employment by sectors – 0,7 %-22,5 %-76,8 % GDP growth in 2013 – 1,6 %
Real GDP growth in the USA 2008-2014
GDP growth and inflation 2004-2014
Gini coefficient in the USA – 1910-2009
Development of main financial markets
USA – Foreign Trade Data Openness – 24,6 % (foreign trade/GDP in 2012) Export - Canada 18.9 %, Mexico 14 %, China 7.2 %, Japan 4.5 % (2012) Import - China 19 %, Canada 14.1 %, Mexico 12 %, Japan 6.4 %, Germany 4.7 % (2012) Largest trade deficits in 2013 – China 318.4 billion USD, Japan 73,4 billion USD, OPEC 68 billion USD, Mexico 5456 billion USD
US-Chinese economic relations One of the most important bilateral relationships in the global economy China is the largest exporter in the world economy – USA is the largest economy 16.7 % of the Chinese export is going to the USA (2012) USA has the largest trade deficit with China China is the largest foreign holder of US treasuries – 1 269 billions of USD as of August 2014 China has the largest currency reserves in the world – 3,9 trillion USD – mostly in USD (summer 2014) China and the USA are competitors for global resources – ex. Africa
USA – home to major TNCs Fortune Global 500 2014 – 128 corporations from the US 2 corporations in top 10 6 corporations in top 20 32 corporations in top 100 Strong position in oil sector – Exxon Mobil, Chevron, Conoco, Phillips66, Valero Energy Industry leaders – Archer Daniels Midland (agriculture), Coca-Cola (beverages), Wal-Mart (retail), AT&T (telecom), Johnson & Johnson (pharmaceutical industry), Apple…
US TNCs – major source of global FDI US outward FDI 2012 – 366 billion USD 2013 – 338 billion USD Most important countries and regions Europe – (Netherlands, UK, Ireland, Switzerland) Latin America Asia
Global Competitivness Index 24