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NAVIGATION
United States of America
GOVERNMENT
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Country name:
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conventional long form: United States of America
conventional short form: United States abbreviation: US or USA |
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Government type:
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Constitution-based federal republic; strong democratic tradition |
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Capital:
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Washington, DC |
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Administrative divisions:
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50 states and 1 district*; Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia*, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
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Dependent areas:
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American Samoa, Baker Island, Guam, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Midway Islands, Navassa Island, Northern Mariana Islands, Palmyra Atoll, Puerto Rico, Virgin Islands, Wake Island
note: from 18 July 1947 until 1 October 1994, the US administered the Trust Territory of the Pacific Islands, but recently entered into a new political relationship with all four political units: the Northern Mariana Islands is a commonwealth in political union with the US (effective 3 November 1986); Palau concluded a Compact of Free Association with the US (effective 1 October 1994); the Federated States of Micronesia signed a Compact of Free Association with the US (effective 3 November 1986); the Republic of the Marshall Islands signed a Compact of Free Association with the US (effective 21 October 1986) |
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Independence:
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4 July 1776 (from Great Britain) |
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National holiday:
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Independence Day, 4 July (1776) |
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Constitution:
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17 September 1787, effective 4 March 1789 |
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Legal system:
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based on English common law; judicial review of legislative acts; accepts compulsory ICJ jurisdiction, with reservations |
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Suffrage:
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18 years of age; universal |
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Executive branch:
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chief of state: President George W. BUSH (since 20 January 2001) and Vice President Richard B. CHENEY (since 20 January 2001); note - the president is both the chief of state and head of government
head of government: President George W. BUSH (since 20 January 2001) and Vice President Richard B. CHENEY (since 20 January 2001); note - the president is both the chief of state and head of government cabinet: Cabinet appointed by the president with Senate approval elections: president and vice president elected on the same ticket by a college of representatives who are elected directly from each state; president and vice president serve four-year terms; election last held 7 November 2000 (next to be held 2 November 2004) election results: George W. BUSH elected president; percent of popular vote - George W. BUSH (Republican Party) 48%, Albert A. GORE, Jr. (Democratic Party) 48%, Ralph NADER (Green Party) 3%, other 1% |
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Legislative branch:
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bicameral Congress consists of the Senate (100 seats, one-third are renewed every two years; two members are elected from each state by popular vote to serve six-year terms) and the House of Representatives (435 seats; members are directly elected by popular vote to serve two-year terms)
election results: Senate - percent of vote by party - NA%; seats by party - Republican Party 51, Democratic Party 46, independent 1, undecided 2; House of Representatives - percent of vote by party - NA%; seats by party - Republican Party 226, Democratic Party 204, independent 1, undecided 4 elections: Senate - last held 5 November 2002 (next to be held NA November 2004); House of Representatives - last held 5 November 2002 (next to be held NA November 2004) |
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Judicial branch:
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Supreme Court (its nine justices are appointed for life by the president with confirmation by the Senate); United States Courts of Appeal; United States District Courts; State and County Courts |
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Political parties and leaders:
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Democratic Party [Terence McAULIFFE]; Green Party [leader NA]; Libertarian Party [Steve DASBACH]; Republican Party [Governor Marc RACICOT] |
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Political pressure groups and leaders:
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NA |
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International organization participation:
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AfDB, ANZUS, APEC, ARF (dialogue partner), AsDB, ASEAN (dialogue partner), Australia Group, BIS, CE (observer), CERN (observer), CP, EAPC, EBRD, ECE, ECLAC, ESCAP, FAO, G-5, G-7, G- 8, G-10, IADB, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICFTU, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, ISO, ITU, MINURSO, MIPONUH, NAM (guest), NATO, NEA, NSG, OAS, OECD, OPCW, OSCE, PCA, SPC, UN, UN Security Council, UNCTAD, UNHCR, UNIKOM, UNITAR, UNMEE, UNMIBH, UNMIK, UNMISET, UNMOVIC, UNOMIG, UNRWA, UNTSO, UNU, UPU, WCL, WCO, WHO, WIPO, WMO, WTrO, ZC |
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Flag description:
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thirteen equal horizontal stripes of red (top and bottom) alternating with white; there is a blue rectangle in the upper hoist-side corner bearing 50 small, white, five-pointed stars arranged in nine offset horizontal rows of six stars (top and bottom) alternating with rows of five stars; the 50 stars represent the 50 states, the 13 stripes represent the 13 original colonies; known as Old Glory; the design and colors have been the basis for a number of other flags, including Chile, Liberia, Malaysia, and Puerto Rico |
ECONOMY
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Economy - overview:
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The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $37,600. 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 considerably greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, lay off surplus workers, and develop new products. At the same time, they face higher barriers to entry in their rivals' home markets than the barriers to entry of foreign firms in US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment, although 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 years 1994-2000 witnessed solid increases in real output, low inflation rates, and a drop in unemployment to below 5%. The year 2001 saw the end of boom psychology and performance, with output increasing only 0.3% and unemployment and business failures rising substantially. The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. Moderate recovery took place in 2002, with the GDP growth rate rising to 2.45%. A major short-term problem in first half 2002 was a sharp decline in the stock market, fueled in part by the exposure of dubious accounting practices in some major corporations. The war in March/April 2003 between a US-led coalition and Iraq shifted resources to military industries and introduced uncertainties about investment and employment in other sectors of the economy. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade deficits, and stagnation of family income in the lower economic groups. |
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GDP:
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purchasing power parity - $10.4 trillion (2002 est.) |
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GDP - real growth rate:
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2.45% (2002 est.) |
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GDP - per capita:
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purchasing power parity - $37,600 (2002 est.) |
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GDP - composition by sector:
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agriculture: 2%
industry: 18% services: 80% (2002) |
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Population below poverty line:
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12.7% (2001 est.) |
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Household income or consumption by percentage share:
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lowest 10%: 1.8%
highest 10%: 30.5% (1997) |
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Distribution of family income - Gini index:
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40.8 (1997) |
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Inflation rate (consumer prices):
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1.6% (2002) |
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Labor force:
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141.8 million (includes unemployed) (2001) |
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Labor force - by occupation:
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managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4%
note: figures exclude the unemployed (2001) |
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Unemployment rate:
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5.8% (2002) |
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Budget:
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revenues: $1.946 trillion
expenditures: $2.052 trillion, including capital expenditures of NA (2002 est.) |
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Industries:
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leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining |
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Industrial production growth rate:
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-0.4% (2002 est.) |
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Electricity - production:
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3.719 trillion kWh (2001) |
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Electricity - production by source:
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fossil fuel: 71.4%
hydro: 5.6% other: 2.3% (2001) nuclear: 20.7% |
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Electricity - consumption:
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3.479 trillion kWh (2001) |
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Electricity - exports:
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18.17 billion kWh (2001) |
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Electricity - imports:
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38.48 billion kWh (2001) |
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Oil - production:
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8.054 million bbl/day (2001 est.) |
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Oil - consumption:
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19.65 million bbl/day (2001 est.) |
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Oil - exports:
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NA (2001) |
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Oil - imports:
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NA (2001) |
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Oil - proved reserves:
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22.45 billion bbl (January 2002 est.) |
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Natural gas - proved reserves:
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5.195 trillion cu m (January 2002 est.) |
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Agriculture - products:
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wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish |
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Exports:
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$687 billion f.o.b. (2002 est.) |
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Exports - commodities:
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capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products |
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Exports - partners:
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Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) |
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Imports:
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$1.165 trillion f.o.b. (2002 est.) |
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Imports - commodities:
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crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages |
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Imports - partners:
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Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) |
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Debt - external:
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$862 billion (1995 est.) |
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Economic aid - donor:
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ODA, $6.9 billion (1997) |
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Currency:
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US dollar (USD) |
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Currency code:
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USD |
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Exchange rates:
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British pounds per US dollar - 0.6661 (2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), Canadian dollars per US dollar - 1.5693 (2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), Japanese yen per US dollar - 125.39 (2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), euros per US dollar - 1.0626 (2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999)
note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 |
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Fiscal year:
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1 October - 30 September |