Introduction Key Economic Facts Risk Assessment (Provided by Coface) The United States is a country located in North America Income Level (by per capita High Income Country rating: A3 - Changes in generally good but bordering the Atlantic Ocean and Pacific Ocean. GNI): somewhat volatile political and economic environment can Neighboring countries are Canada and Mexico. The Level of Development: Developed affect corporate payment behavior. A basically secure geography of the United States is varied GDP, PPP (current international $21,433.23 billion (2019) with mountains in the west, a broad $): business environment can nonetheless give rise to central plain, and low mountains in the GDP growth (annual %): 2.16% (2019) occasional difficulties for companies. Corporate default east. The government system is a GDP per capita, PPP (current $65,297.52 (2019) probability is quite acceptable on average. constitution-based federal republic with a international $): Business Climate rating: A1 - The business environment strong democratic tradition; the chief of state and head of Manufacturing, value added (% 11.26% (2018) is very good. Corporate financial information is available and government is the president. The United States has an of GDP): advanced mixed economy in which there is a variety of Current account balance (BoP, -$480.23 billion (2019) reliable. Debt collection is efficient. Institutional quality is private freedom, combined with current US$): very good. Intercompany transactions run smoothly in centralized economic planning Inflation, consumer prices 1.81% (2019) environments rated A1. (annual %): and government regulation. Strengths United States is a member of Labor force, total: 166,499,849 (2020) • Flexible labor market the Asia-Pacific Economic Unemployment, total (% of 3.86% (2020) Cooperation (APEC) and the total labor force) (modeled ILO • Full employment is one of the Federal Reserve’s estimate): North American Free Trade objectives Agreement (NAFTA). Imports of goods and services $3,125.22 billion (2019) (current US$): • The dollar’s predominant role in the global economy Location: Northern America Exports of goods and services $2,514.75 billion (2019) • 70% of public debt held by residents Capital City: Washington, DC (-5 GMT) (current US$): • Highly attractive: leader in research & innovation, Chief of State: President Joseph R. Biden Jr. huge market Head of Govt.: President Joseph R. Biden Jr. • Favorable corporate taxation Currency: United States Dollar (USD) GDP Composition % Agriculture Services Industry Manufacturing Weaknesses Major Languages:
English only 78.2%, Spanish • Low labor market participation 13.4%, Chinese 1.1%, other 77 7.3% (2017 est.)
• Households not geographically flexible 19 Primary Religions:Protestant 46.5%, Roman 1 11 • High household debt (129% of gross disposable Catholic 20.8%, Jewish 1.9%, Mormon 1.6%, other Christian 0.9%, *Although Manufacturing is included in the Industry figures, it is also separately income) Muslim 0.9%, Jehovah's Witness reported because it plays a critical role in economy. • Polarised political landscape 0.8%, Buddhist 0.7%, Hindu 0.7%, Rankings other 1.8%, unaffiliated 22.8%, • Decrease in fertility rate don't know/refused Index Rank • Outdated infrastructure 0.6% (2014 est.)
Corruption Perceptions Index 23 / 180 • Increasing inequalities Calling Code: 1 EY Globalization Index 25 / 60 Voltage: 120 Global Competitiveness Index 2 / 141 U.S. Embassy Global Enabling Trade Index 22 / 136 Key Websites N/A Global Manufacturing Competitiveness Index 2 / 40 Main Government Page: usa.gov (GMCI) Commerce Ministry: commerce.gov Global Services Location Index 22 / 55 Export Promotion Agency: export.gov Index of Economic Freedom 12 / 179 Investment Promotion selectusa.gov International Logistics Performance Index (LPI) 14 / 160 Agency: Inward FDI Potential Index 1 / 139 KOF Index of Globalization 27 / 185 Networked Readiness Index (NRI) 5 / 139 Open Budget Index 7 / 115Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV