US GDP

The United States has a highly developed and diversified market-oriented economy. It is the world's largest economy by nominal GDP, generating 26% of global economic output. It is the second-largest by purchasing power parity (PPP). On a per capita basis, the U.S. ranks ninth-highest nominal GDP per capita and 10th-highest GDP per capita by PPP. The U.S. dollar is the world's foremost reserve currency with widespread international usage and serves as reference standard for the petrodollar and eurodollar. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, along with rapid advances in technology. The American economy is fueled by high productivity, technology, well-developed transportation infrastructure, and extensive natural resources.