Economy Of The United States

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The United States is a highly developed mixed economy. It is the world's largest economy by nominal GDP, and the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GDP (nominal) and the eighth-highest per capita GDP (PPP) as of 2022. The U.S. accounted for 24.7% of the global economy in 2022 in nominal terms, and around 15.5% in PPP terms. The U.S. dollar is the currency of record most used in international transactions and is the world's foremost reserve currency, backed by a large U.S. treasuries market, its role as the reference standard for the petrodollar system, and its linked euro dollar. Several countries use it as their official currency and in others it is the de facto currency.