GDP (Million $) – 25.035.164
GDP Per Capita (Million $) – 75.180
Growth Rate – %1,6
Population – 333.005.000
Total Area (km2) – 9,834,633
Capital – Washington D.C.
Monetary Unit – US dollar
The USA is geographically located on the North American continent, bordering the North Atlantic Ocean and the North Pacific Ocean, between Canada and Mexico.
The US population, which ranks 3rd in the world with 333 million people in 2022, is estimated to be 338 million people in 2027.
The main natural resources of the USA; coal, copper, lead, molybdenum, phosphate, uranium, bauxite, gold, iron, mercury, nickel, silver, tungsten, zinc, petroleum and natural gas.
The United States is the world’s greatest economic power, measured in terms of gross domestic product (GDP). The nation’s wealth is partly a reflection of its rich natural resources and its enormous agricultural output, but it owes more to the country’s highly developed industry.
The USA is the world's largest importer of goods with an import of 2.9 trillion dollars and the second largest exporter of goods after China with an export of 1.7 trillion dollars. As the world's largest exporter and importer of services trade, the USA is also the leader in total exports and imports.
The main export countries are Canada, Mexico, China, Japan, S. Korea, Germany, England, Netherlands, Brazil and India. Türkiye ranks 27th with a share of 0.7%.
The main importing countries are China, Mexico, Canada, Japan, Germany, Vietnam, S. Korea, Taiwan, India and Ireland. Türkiye ranks 25th in the country's imports with a share of 0.6%.
AUTOMOTIVE INDUSTRY
The automotive industry is a significant part of the US economy, with many major automakers having headquarters or manufacturing facilities in the country. The industry has a long history in the US, with the first automobile produced in the country in 1893.
The US automotive industry is highly competitive, with both domestic and foreign manufacturers vying for market share. Some of the major American automakers include General Motors (GM), Ford, and Chrysler, which together make up what is commonly referred to as the "Detroit Three." Other notable foreign automakers with a significant presence in the US market include Toyota, Honda, and BMW.
The automotive industry is a major employer in the US, providing jobs for millions of people across a wide range of professions, including manufacturing, engineering, sales, and marketing. The industry is also a major contributor to the US economy, generating significant revenue and contributing to overall GDP.
In recent years, the US automotive industry has faced a number of challenges, including increased competition from foreign automakers, changing consumer preferences, and the rise of electric and autonomous vehicles. However, many American automakers have responded to these challenges by investing in new technologies and innovative products, and the industry remains an important and dynamic part of the US economy.
According to a report by IBISWorld, the automotive industry in the USA generated $1.1 trillion in revenue in 2021. The report also predicts a compound annual growth rate (CAGR) of 2.5% for the industry from 2021 to 2026.
The automotive industry in the USA is experiencing a shift towards electric vehicles (EVs). A report by BloombergNEF predicts that EVs will make up 10% of new car sales in the USA by 2025. In addition, many major car manufacturers, such as General Motors, Ford, and Tesla, have announced plans to increase their production of EVs.
The automotive industry in the USA is investing heavily in innovation and technology. This includes the development of autonomous vehicles, connected cars, and other advanced technologies. According to a report by McKinsey & Company, the industry is expected to invest over $250 billion in autonomous vehicles and related technologies by 2025.
CONSTRUCTION INDUSTRY
Construction is a major contributor to the U.S. economy. The industry has more than 753,000 employers with over 7.8 million employees and creates nearly $1.8 trillion worth of structures each year. Construction is one of the largest customers for manufacturing, mining and a variety of services.
The United States construction market size was valued at $2.1 trillion in 2022 and is expected to achieve an AAGR of more than 4% during 2024-2027. The industry’s growth in the US during the forecast period will be supported by government investment in rail, road, and renewable energy projects. Growth in the construction industry will be aided by US’s Cohesion Policy investment strategy, which involves an investment of PLN326.3 billion ($86.3 billion) on green transition for the period of 2021-2027.
According to Kenneth D. Simonson, Chief Economist, Associated General Contractors of America, the construction industry in the United States appears to be at a turning point. What remains to be seen is whether the turn leads downward or in a series of diverse directions.
The clearest sign of a downturn comes from the single-family housing market. Most indicators—new and existing home sales, starts, building permits, spending on houses under construction and builder sentiment, among others—have been negative for many months and appear to augur further contractions for at least the next several months.
Source: https://internationalbanker.com/finance/the-us-construction-outlook-retreat-or-rotation/
Construction sector revenue has fallen at a CAGR of 1.3% to $2.6 trillion over the past five years, including a 4.2% decline in 2023 alone, when profit margins will fall to 3.4%. Prepandemic growth hard to come back to. Prior to the COVID-19 pandemic, construction saw revenue growth as rising corporate profit, rising consumer spending and low interest rates drove investment in construction.
In conclusion, while the construction industry in the US has faced some challenges in recent years, it continues to be an important contributor to the economy and a source of employment for millions of people. With the ongoing recovery from the pandemic and the proposed infrastructure plan, the industry is expected to continue growing in the coming years.
FASTENER INDUSTRY
The fastener industry in the USA has been experiencing steady growth in recent years. According to a market research report by Grand View Research, the global fastener market size was valued at USD 83.6 billion in 2020, and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028.
In the USA, the fastener industry has been fueled by increasing demand from various end-use industries such as automotive, construction, aerospace, and industrial machinery. The automotive industry has been a major driver of demand for fasteners, due to the increasing production of vehicles and the trend toward lightweight materials.
Additionally, the construction industry has also contributed to the growth of the fastener industry in the USA, particularly due to the increasing demand for construction fasteners such as nails, screws, bolts, and anchors.
In recent years, there have been some challenges faced by the fastener industry, such as fluctuations in raw material prices, increasing competition from low-cost imports, and the impact of the COVID-19 pandemic on supply chain disruptions. However, the industry has been resilient in overcoming these challenges and is expected to continue to grow in the coming years.
There are several fastener associations in the US. Some of the most prominent ones include:
National Fastener Distributors Association (NFDA): NFDA is a non-profit trade association that represents the interests of fastener distributors, manufacturers, and other industry professionals in the US. Its mission is to provide members with education, networking opportunities, and advocacy to promote the growth and success of the fastener industry.
Industrial Fasteners Institute (IFI): IFI also represents the interests of manufacturers and distributors of industrial fasteners, including bolts, nuts, screws, and other types of fasteners. Its mission is to promote and advance the use of quality, high-performance fasteners through research, education, and standards development.
Fastener Industry Coalition (FIC): FIC represents the interests of fastener manufacturers, distributors, and importers in the US. Its mission is to promote and protect the interests of the fastener industry through advocacy, education, and networking.
Specialty Tools & Fasteners Distributors Association (STAFDA): STAFDA is also a non-profit trade association that represents the interests of distributors of specialty tools and fasteners, including power tools, hand tools, and other related products. Its mission is to provide members with education, networking opportunities, and advocacy to promote the growth and success of the specialty tools and fasteners industry.
AEROSPACE INDUSTRY
The aerospace industry in the United States is a significant contributor to the country's economy and technological advancements. The industry includes companies that design, manufacture, and service aircraft, spacecraft, missiles, and other related technologies.
Some of the largest aerospace companies in the United States include Boeing, Lockheed Martin, Northrop Grumman, Raytheon Technologies, and SpaceX. These companies have a significant presence in the industry and have played a major role in developing many groundbreaking technologies.
The US government has also played a crucial role in the aerospace industry by investing in research and development, providing funding for space exploration, and regulating the industry. NASA (the National Aeronautics and Space Administration) is the government agency responsible for space exploration and research.
The aerospace industry in the US has a long history, dating back to the Wright brothers' first flight in 1903. Since then, the industry has experienced significant growth and has played a critical role in the country's national security, economic growth, and technological advancements.
However, the industry has also faced challenges in recent years, including supply chain disruptions, increased competition from international companies, and the impact of the COVID-19 pandemic. Despite these challenges, the US aerospace industry remains a vital part of the country's economy and is expected to continue to play a significant role in shaping the future of aviation and space exploration.
METAL INDUSTRY
The metal industry in the United States is a significant sector of the economy, encompassing various activities related to the production and processing of metals. The industry includes companies that mine, refine, and process raw materials such as iron ore, copper, aluminum, and other metals, as well as manufacturers of metal products such as steel, pipes, tubes, and wire.
According to the United States Geological Survey (USGS), the United States produced approximately 86 million metric tons of metal in 2020, with steel being the most produced metal. The metal industry plays a crucial role in the economy, providing jobs and contributing to the country's infrastructure and construction projects.
In 2021, the metal industry in the United States was valued at over $900 billion and employed around 2.5 million workers. The industry includes the production of a wide range of metals, including steel, aluminum, copper, and other alloys.
The metal industry in the United States has faced challenges in recent years, including increased global competition, changing market demands, and supply chain disruptions caused by the COVID-19 pandemic. However, the industry has continued to evolve and adapt to these challenges, with technological advancements and innovation driving efficiency and productivity.
