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1994-05-02
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<text>
<title>
Alaska United States: Economy
</title>
<article><hdr>The World Factbook 1993: United States
Economy</hdr><body>
<p>Overview: The US has the most powerful, diverse, and
technologically advanced economy in the world, with a per capita
GDP of $23,400, the largest among major industrial nations. The
economy is market oriented with most decisions made by private
individuals and business firms and with government purchases of
goods and services made predominantly in the marketplace. In 1989
the economy enjoyed its seventh successive year of substantial
growth, the longest in peacetime history. The expansion featured
moderation in wage and consumer price increases and a steady
reduction in unemployment to 5.2% of the labor force. In 1990,
however, growth slowed to 1% because of a combination of
factors, such as the worldwide increase in interest rates,
Iraq's invasion of Kuwait in August, the subsequent spurt in oil
prices, and a general decline in business and consumer
confidence. In 1991 output fell by 1%, unemployment grew, and
signs of recovery proved premature. Growth picked up to 2.1% in
1992. Unemployment, however, remained at nine million, the
increase in GDP being mainly attributable to gains in output per
worker. Ongoing problems for the 1990s include inadequate
investment in economic infrastructure, rapidly rising medical
costs, and sizable budget and trade deficits.
</p>
<p>National product: GDP - purchasing power equivalent - $5.951
trillion (1992)
</p>
<p>National product real growth rate: 2.1% (1992)
</p>
<p>National product per capita: $23,400 (1992)
</p>
<p>Inflation rate (consumer prices): 3% (1992)
</p>
<p>Unemployment rate: 7% (April 1993)
</p>
<p>Budget: revenues $1,092 billion; expenditures $1,382 billion,
including capital expenditures of $NA (FY92)
</p>
<list>
<l>Exports: $442.3 billion (f.o.b., 1992)</l>
<l> commodities: capital goods, automobiles, industrial supplies
and raw materials, consumer goods, agricultural products</l>
<l> partners: Western Europe 27.3%, Canada 22.1%, Japan 12.1%
(1989)</l>
<l>Imports: $544.1 billion (c.i.f., 1992)</l>
<l> commodities: crude oil and refined petroleum products,
machinery, automobiles, consumer goods, industrial raw
materials, food and beverages</l>
<l> partners: Western Europe 21.5%, Japan 19.7%, Canada 18.8%
(1989)</l>
</list>
<p>External debt: $NA
</p>
<p>Industrial production: growth rate 1.5% (1992 est.); accounts
for NA% of GDP
</p>
<p>Electricity: 780,000,000 kW capacity; 3,230,000 million kWh
produced, 12,690 kWh per capita (1992)
</p>
<p>Industries: leading industrial power in the world, highly
diversified; petroleum, steel, motor vehicles, aerospace,
telecommunications, chemicals, electronics, food processing,
consumer goods, lumber, mining
</p>
<p>Agriculture: accounts for 2% of GDP and 2.8% of labor force;
favorable climate and soils support a wide variety of crops and
livestock production; world's second largest producer and number
one exporter of grain; surplus food producer; fish catch of 4.4
million metric tons (1990)
</p>
<p>Illicit drugs: illicit producer of cannabis for domestic
consumption with 1987 production estimated at 3,500 metric tons
or about 25% of the available marijuana; ongoing eradication
program aimed at small plots and greenhouses has not reduced
production
</p>
<p>Economic aid: donor - commitments, including ODA and OOF,
(FY80-89), $115.7 billion
</p>
<p>Currency: 1 United States dollar (US$)=100 cents
</p>
<p>Exchange rates:</p>
<p> British pounds: (#) per US$ - 0.6527 (January 1993), 0.5664
(1992), 0.5652 (1991), 0.5603 (1990), 0.6099 (1989), 0.5614
(1988)
</p>
<p> Canadian dollars: (Can$) per US$ - 1.2776 (January 1993),
1.2087 (1992), 1.1457 (1991), 1.1668 (1990), 1.1840 (1989),
1.2307 (1988)
</p>
<p> French francs: (F) per US$ - 5.4812 (January 1993), 5.2938
(1992), 5.6421 (1991), 5.4453 (1990), 6.3801 (1989), 5.9569
(1988)
</p>
<p> Italian lire: (Lit) per US$ - 1,482.5 (January 1993),
1,232.4 (1992), 1,240.6 (1991), 1,198.1 (1990), 1.372.1 (1989),
1,301.6 (1988)
</p>
<p> Japanese yen: (Y) per US$ - 125.01 (January 1993), 126.65
(1992), 134.71 (1991), 144.79 (1990), 137.96 (1989), 128.15
(1988)
</p>
<p> German deutsche marks: (DM) per US$ - 1.6158 (January 1993),
1.5617 (1992), 1.6595 (1991), 1.6157 (1990), 1.8800 (1989),
1.7562 (1988)
</p>
<p>Fiscal year: 1 October-30 September
</p></body></article></text>