According to the International Monetary Fund, the U.S. GDP of $22.7 trillion constitutes 24% of the gross world product at market exchange rates and over 16% of the gross world product at purchasing power parity.[314][15] On February 2, 2022, the United States had a national debt of $30 trillion.[315]
The United States is the largest importer and second-largest exporter,[316] though exports per capita are relatively low. In 2010, the total U.S. trade deficit was $635 billion.[317] Canada, China, Mexico, Japan, and the European Union are its top trading partners.[318][319]
From 1983 to 2008, U.S. real compounded annual GDP growth was 3.3%, compared to a 2.3% weighted average for the rest of the G7.[320] The country ranks fifth in the world in nominal GDP per capita[321] and seventh in GDP per capita at PPP.[15] The U.S. dollar is the world's primary reserve currency.[322]
In 2009, the private sector was estimated to constitute 86.4% of the economy.[323] While its economy has reached a post-industrial level of development, the United States remains an industrial power.[324] In August 2010, the American labor force consisted of 154.1 million people (50%). With 21.2 million people, the public sector is the leading field of employment. The largest private employment sector is health care and social assistance, with 16.4 million people. It has a smaller welfare state and redistributes less income through government action than most other high-income countries.[325]
The United States is the only advanced economy that does not guarantee its workers paid vacation[326] and is one of a few countries in the world without paid family leave as a legal right.[327] Some 74% of full-time American workers get paid sick leave, according to the Bureau of Labor Statistics, although only 24% of part-time workers get the same benefits.[328]