The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles (9.8 million km2) and with over 325 million people, the United States is the world’s third- or fourth-largest country by total area and the third-most populous. The capital is Washington, D.C., and the largest city by population is New York City. Forty-eight states and the capital’s federal district are contiguous and located in North America between Canada and Mexico.
The United States has a capitalist mixed economy which is fueled by abundant natural resources and high productivity. According to the International Monetary Fund, the U.S. GDP of $16.8 trillion constitutes 24% of the gross world product at market exchange rates and over 19% of the gross world product at purchasing power parity.
The United States is the largest importer of goods and second-largest exporter, though exports per capita are relatively low. Canada, China, Mexico, Japan, and Germany are its top trading partners.
Chemical products are the leading manufacturing field. The United States is the largest producer of oil in the world, as well as its second-largest importer. It is the world’s number one producer of electrical and nuclear energy, as well as liquid natural gas, sulfur, phosphates, and salt. The National Mining Association provides data pertaining to coal and minerals that include beryllium, copper, lead, magnesium, zinc, titanium and others.
The largest private employment sector is health care and social assistance. The United States is ranked among the top three in the Global Competitiveness Report as well. It has a smaller welfare state and redistributes less income through government action than European nations tend to.
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