Economic influence
The United States of America is a global economic superpower, although its economic influence is being challenged.
Wall Street financial centre, New York.
The US:
- had the third largest population in the world (341 million) in 2024
- Gross Domestic Product (GDP) was $25.44 trillion in 2022; China was second highest at $17.96 trillion
- Gross Domestic Product per capita or GDP per capita can be seen as a broad measure of average living standards although it does not take account of the way in which GDP is spread across the population. in 2022 was $76,329 per capita, one of the highest in the developed world
The US is home to many entrepreneurs and has created many iconic products which are highly sought after around the world, for example Apple, Coca Cola, McDonald’s and Facebook. Other world leading companies include Microsoft, Amazon and Tesla.
The US also provides the greatest amount of international aid:
- In 2021, the US provided $12.5 billion to the United Nations; 22% of the UN regular budget is provided by the US.
- In 2023, $60.4 billion was given to USAID – the US Agency for International Development for 75 missions in more than 70 countries including Syria, Yemen and Ukraine.