United States Economy in the 1990s

McKeycia Murry April 5, 2013

Source:
http://www.theodora.com/wfb1990/united_states/united_states_economy.html

Information:
Overview: The US has the most powerful and diversified economy in the world, with a per capita GNP of over $21,000, the largest among the major industrial nations. In 1989 the economy entered its eighth successive year of growth, the longest in peacetime history. The expansion has featured continued moderation in wage and consumer price increases, an unemployment rate of 5.2%, (the lowest in 10 years), and an inflation rate of 4.8%. On the negative side, the US enters the 1990s with massive budget and trade deficits, huge and rapidly rising medical costs, and inadequate investment in industrial capacity and economic infrastructure. GNP: $5,233.3 billion, per capita $21,082; real growth rate 2.9% (1989) Inflation rate (consumer prices): 4.8% (1989) Unemployment rate: 5.2% (1989) Budget: revenues $976 billion; expenditures $1,137 billion, including capital expenditures of NA (FY89 est.) Exports: $322.3 billion (f.o.b., 1988); commodities--capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products; partners--Canada 22.9%, Japan 11.8% (1988) Imports: $440.9 billion (c.i.f., 1988); commodities--crude and partly refined petroleum, machinery, automobiles, consumer goods, industrial raw materials, food and beverages; partners--Japan 19.6% , Canada 19.1% (1988) External debt: $532 billion (December 1988) Industrial production: growth rate 3.3% (1989) Electricity: 776,550,000 kW capacity; 2,958,300 million kWh produced, 11,920 kWh per capita (1989) Industries: leading industrial power in the world, highly diversified; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, fishing, lumber, mining Agriculture: accounts for 2% of GNP and 2.8% of labor force; favorable climate and soils support a wide variety of crops and livestock production; world's second-largest producer and number-one exporter of grain; surplus food producer; fish catch of 5.7 million metric tons (1987)

United States Economy in the 1990s

McKeycia Murry April 5, 2013

Illicit drugs: illicit producer of cannabis for domestic consumption with 1987 production estimated at 3,500 metric tons or about 25% of the available marijuana; ongoing eradication program aimed at small plots and greenhouses has not reduced production Aid: donor--commitments, including Ex-Im (FY80-88), $90.5 billion Currency: United States dollar (plural--dollars); 1 United States dollar (US$) = 100 cents Exchange rates: British pounds (L) per US$--0.6055 (January 1990), 0.6099 (1989), 0.5614 (1988), 0.6102 (1987), 0.6817 (1986), 0.7714 (1985); Canadian dollars (Can$) per US$--1.1885 (February 1990), 1.2307 (1988), 1.3260 (1987), 1.3895 (1986); French francs (F) per US$--5.695 (February 1990), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985); Italian lire (Lit) per US$--1,244.8 (February 1990), 1,301.6 (1988), 1,296.1 (1987), 1,490.8 (1986), 1,909.4 (1985); Japanese yen (Y) per US$--145.55 (February 1990), 128.15 (1988), 144.64 (1987), 168.52 (1986), 238.54 (1985); FRG deutsche marks (DM) per US$-1.6775 (February 1990), 1.7562 (1988), 1.7974 (1987), 2.1715 (1986), 2.9440 (1985) Fiscal year: 1 October-30 September

United States Economy in the 1990s

McKeycia Murry April 5, 2013