TOP 10 ECONOMIES OF THE WORLD
1. UNITED STATES
Ø Largest economy in world in terms of nominal GDP. Ø Economic superpower, highly advanced in technology & infrastructure & has abundant natural resources.
Ø Services sector, Manufacturing & Agriculture contributes 80%, 15% & 2% of output respectively. Ø 2nd largest manufacturer in world & a leader in automobiles, aerospace, machinery, telecommunications & chemicals.
Ø Housing market & several banks collapsed in 2008, resulting in the deepest & longest downturn in U.S. economy. Ø Expansionary monetary policies supported the economy.
Ø Currently emerging from a period of considerable turmoil
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