doc. Ing. Tomáš Dudáš, PhD.
US Economy – Basic Data Nominal GDP – 15,66 billion USD (2012 est.) GDP/c – USD (2012 est.) GDP by sectors – 1,2 %-19,1 %-79,7 % Employment by sectors – 0,7 %-22,5 %-76,8 % GDP growth in 2011 – 2,2 %
US Economy – mixed signals Positive signals U.S. existing home sales rise to 6-1/2 year high Building permits – an indicator of future construction – hit their highest number in four years Auto sales were strong until september Manufacturing activity accelerated to its fastest pace in nearly two years Third-quarter GDP growth was unexpectedly strong Negative signals Government spending cuts Retail sales were up in September, but only 0.4 % The saving rate stegnated Job growth is steady, but still slow The Consumer Confidence Index decreased in September and October
Real GDP growth in the USA
GDP growth and inflation
Gini coefficient in the USA –
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 2012 – China billion USD, Japan 76 billion USD, OPEC 99 billion USD, Mexico 61.6 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 17 % of the Chinese export is going to the USA (2011) USA has the largest trade deficit with China China is the largest foreign holder of US treasuries – billions of USD as of August 2013 China has the largest currency reserves in the world – 3,3 trillion USD – mostly in USD (end of 2012) China and the USA are competitors for global resources – ex. Africa
USA – home to major TNCs Fortune Global 500 – 132 corporations from the US 2 corporations in top 10 6 corporations in top 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 2010 – 304 billion USD 2011 – 396 billion USD Most important countries and regions Europe – 220 billion USD in 2011 (Netherlands, UK, Ireland, Switzerland) Latin America – 84 billion USD Asia – 76 billion USD ( China – 25 billion USD)
Global Competitivness Index