The United States is the world’s largest economy. The United States economy is the greatest consumer of oil. Since it is not the largest producer of oil the,United States economy is closely dependent with other economies especially major producers of oil. The United States economy has one of the highest levels of mass consumption just like much of Western Europe.
Being the largest economy in the world the,United States economy is a very important trading partner almost too all countries. It is a major exporter of capital goods like computers, telecommunication goods, and transistors, among others. In addition the United States exports organic chemicals, agricultural products etc. in comparison to the world economy the United States seems to be doing much better than most countries. Growth estimates indicate that the world economy grew by around 4.4% last year although that of the United States is estimated to have grown by around 2.2%. Although this was lower than that of the world average it is important to note that that of the world was greatly influenced by higher growth rates in china, India and Russia.