Compare United States (2008) - United States (2007)

Compare United States (2008) z United States (2007)

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	United States (2008)	United States (2007)

Budget	revenues: $2.568 trillion expenditures: $2.731 trillion (2007 est.)	revenues: $2.407 trillion expenditures: $2.655 trillion (2006 est.)
Debt - external	$12.25 trillion (30 June 2007)	$10.04 trillion (30 June 2006 est.)
Economy - overview	The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $46,000. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. The war in March-April 2003 between a US-led coalition and Iraq, and the subsequent occupation of Iraq, required major shifts in national resources to the military. The rise in GDP in 2004-07 was undergirded by substantial gains in labor productivity. Hurricane Katrina caused extensive damage in the Gulf Coast region in August 2005, but had a small impact on overall GDP growth for the year. Soaring oil prices in 2005-2007 threatened inflation and unemployment, yet the economy continued to grow through year-end 2007. Imported oil accounts for about two-thirds of US consumption. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade and budget deficits, and stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record $847 billion in 2007. Together, these problems caused a marked reduction in the value and status of the dollar worldwide in 2007.	The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $43,500. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. The war in March-April 2003 between a US-led coalition and Iraq, and the subsequent occupation of Iraq, required major shifts in national resources to the military. The rise in GDP in 2004-06 was undergirded by substantial gains in labor productivity. Hurricane Katrina caused extensive damage in the Gulf Coast region in August 2005, but had a small impact on overall GDP growth for the year. Soaring oil prices in 2005 and 2006 threatened inflation and unemployment, yet the economy continued to grow through year-end 2006. Imported oil accounts for about two-thirds of US consumption. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade and budget deficits, and stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record $750 billion in 2006.
Elevation extremes	lowest point: Death Valley -86 m highest point: Mount McKinley 6,198 m	lowest point: Death Valley -86 m highest point: Mount McKinley 6,194 m
Exchange rates	British pounds per US dollar: 0.4993 (2007), 0.5418 (2006), 0.5500 (2005), 0.5462 (2004), 0.6125 (2003) Canadian dollars per US dollar: 1.0724 (2007), 1.1334 (2006), 1.2118 (2005), 1.3010 (2004), 1.4011 (2003) Japanese yen per US dollar: 117.99 (2007), 116.18 (2006) 110.22 (2005), 108.19 (2004), 115.93 (2003) euros per US dollar: 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.8860 (2003) Chinese yuan per US dollar: 7.61 (2007), 7.97 (2006), 8.1943 (2005), 8.2768 (2004), 8.2770 (2003)	British pounds per US dollar -: 0.5418 (2006), 0.5500 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002) Canadian dollars per US dollar -: 1.1334 (2006), 1.2118 (2005), 1.3010 (2004), 1.4011 (2003), 1.5693 (2002) Japanese yen per US dollar -: 116.18 (2006) 110.22 (2005), 108.19 (2004), 115.93 (2003), 125.39 (2002) euros per US dollar -: .7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.8860 (2003), 1.0626 (2002) Chinese yuan per US dollar -: 7.97 (2006), 8.1943 (2005), 8.2768 (2004), 8.2770 (2003), 8.2770 (2002)
GDP - composition by sector	agriculture: 0.9% industry: 20.6% services: 78.5% (2007 est.)	agriculture: 0.9% industry: 20.9% services: 78.2% (2006 est.)
GDP - real growth rate	2.2% (2007 est.)	2.9% (2006 est.)
Household income or consumption by percentage share	lowest 10%: 2% highest 10%: 30% (2007 est.)	lowest 10%: 1.9% highest 10%: 29.9% (2000)
Industrial production growth rate	0.5% (2007 est.)	4.2% (2006 est.)
Inflation rate (consumer prices)	2.7% (2007 est.)	3.2% (2006 est.)
International organization participation	ADB (nonregional members), AfDB, ANZUS, APEC, Arctic Council, ARF, ASEAN (dialogue partner), Australia Group, BIS, BSEC (observer), CBSS (observer), CE (observer), CERN (observer), CP, EAPC, EBRD, FAO, G-5, G-7, G-8, G-10, IADB, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ISO, ITSO, ITU, ITUC, MIGA, MINUSTAH, NAFTA, NATO, NEA, NSG, OAS, OECD, OPCW, OSCE, Paris Club, PCA, PIF (partner), SAARC (observer), SECI (observer), SPC, UN, UN Security Council, UNCTAD, UNESCO, UNHCR, UNITAR, UNMEE, UNMIL, UNOMIG, UNRWA, UNTSO, UPU, WCL, WCO, WHO, WIPO, WMO, WTO, ZC	AfDB, ANZUS, APEC, Arctic Council, ARF, AsDB, ASEAN (dialogue partner), Australia Group, BIS, BSEC (observer), CBSS (observer), CE (observer), CERN (observer), CP, EAPC, EBRD, FAO, G-5, G-7, G-8, G-10, IADB, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ISO, ITSO, ITU, ITUC, MIGA, MINUSTAH, NAFTA, NATO, NEA, NSG, OAS, OECD, OPCW, OSCE, Paris Club, PCA, PIF (partner), SAARC (observer), SECI (observer), SPC, UN, UN Security Council, UNCTAD, UNESCO, UNHCR, UNITAR, UNMEE, UNMIL, UNMOVIC, UNOMIG, UNRWA, UNTSO, UPU, WCL, WCO, WHO, WIPO, WMO, WTO, ZC
Labor force	153.1 million (includes unemployed) (2007 est.)	151.4 million (includes unemployed) (2006 est.)
Labor force - by occupation	farming, forestry, and fishing 0.6%, manufacturing, extraction, transportation, and crafts 22.6%, managerial, professional, and technical 35.5%, sales and office 24.8%, other services 16.5% note: figures exclude the unemployed (2007)	farming, forestry, and fishing 0.7%, manufacturing, extraction, transportation, and crafts 22.9%, managerial, professional, and technical 34.9%, sales and office 25%, other services 16.5% note: figures exclude the unemployed (2006)
Pipelines	petroleum products 244,620 km; natural gas 548,665 km (2006)	petroleum products 244,620 km; natural gas 548,665 km (2003)
Religions	Protestant 51.3%, Roman Catholic 23.9%, Mormon 1.7%, other Christian 1.6%, Jewish 1.7%, Buddhist 0.7%, Muslim 0.6%, other or unspecified 2.5%, unaffiliated 12.1%, none 4% (2007 est.)	Protestant 52%, Roman Catholic 24%, Mormon 2%, Jewish 1%, Muslim 1%, other 10%, none 10% (2002 est.)
Telephone system	general assessment: a large, technologically advanced, multipurpose communications system domestic: a large system of fiber-optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: country code - 1; multiple ocean cable systems provide international connectivity; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000)	general assessment: a large, technologically advanced, multipurpose communications system domestic: a large system of fiber-optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: country code - 1; 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000)
Unemployment rate	4.6% (2007 est.)	4.8% (2006 est.)

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