Export Services
Opening a company in the USA
ExportUSA opens US incorporated companies in all of the United States. We can open both LLCs and corporations
https://www.exportusa.eu/opening-a-company-exportusa.php
(+1) 718-5225575
(+1) 718-5225575
Last available year: 2024; Source: Bureau of Economic Analysis (BEA)
The Gross Domestic Product (GDP) of the United States is composed of various economic categories, each representing a percentage of the total economic value produced in a year. The data presented here refers to the standard structure used by the Bureau of Economic Analysis (BEA) and is expressed as percentages relative to the total real GDP in 2024
| Component | Description | Share % |
|---|---|---|
| Private Consumption | Consumer spending on goods and services | 68.3% |
| Gross Private Investments | Properties, plants, equipment, inventories | 18.3% |
| Government Spending | Public sector consumption and investments | 17.2% |
| Exports | Goods and services sold abroad | 10.8% |
| Imports | Goods and services purchased abroad (negative item) | -14.6% |
Includes spending on durable goods (e.g., cars, appliances), non-durable goods (e.g., food, clothing), and services (e.g., healthcare, transportation, private education). It is the predominant item in the U.S. GDP, reflecting the "consumer-driven" orientation of the U.S. economy.
Includes fixed investments in plants, machinery, residential structures, and infrastructure, as well as changes in business inventories. This is a highly cyclical component.
Includes consumption and investments made by:
Exports add value to the GDP as they represent domestic production destined for foreign markets.
Imports are subtracted from the GDP calculation, as they represent goods and services purchased abroad but consumed domestically.
All values are percentages relative to the total real GDP of the United States for the year 2024. The data is subject to periodic revisions by the Bureau of Economic Analysis.
Update of January 17, 2020
The basic data to get a summarized idea of the size of the economy and the American market: Retail sales, personal consumption, ecommerce, GDP, inflation, and unemployment rate in the United States.
The [few] essential numbers to understand the American economy as a whole in less than five minutes. The absolute numbers, beyond the percentages, are what you need to get an idea of the real dimensions of the U.S. economy
The media routinely communicate data about the economy by quoting percentages: GDP growth percentages, retail sales increase percentage, and so on. In reality, knowing that America's GDP grew by 2% in a year tells us nothing about the size of the American market. On this page of the ExportUSA site, we provide an overview of the few fundamental numbers that, together, give a concrete idea of the size of the American economy and the potential of the American market.
GDP is the basic measure of an economy, the benchmark for comparing it with other markets. To compare the American market with the rest of the world, here is the ranking of the top ten world economies:
Equally important is the composition of the GDP: 69% of the American GDP is composed of private consumption, which is $14,800 billion in 2019 [private consumption includes the purchase of goods and services]
Imports/exports, or international trade, is another important and very current element. The United States has always been a net importing country, with a trade balance that has always been in deficit. Here are the most recent data on the international trade of the USA:
Thus, American exports represent 12% of the entire American economy. In comparison, Italian exports [535 billion dollars in 2018] represent over 25% of the entire economy.
There is also another economic measure related to retail sales in America, namely "Core Retail Sales," which exclude fuel, car purchases, and restaurant expenses. They are a better index of retail purchases.
Core Retail Sales USA
Retail sales [Retail Sales] do not include services. The purchase of services represents, however, the bulk of private consumption in America and includes:
If we add spending on durable goods: houses, appliances, furniture, and similar, to Consumer Spending, we reach the "Private Consumption" in the USA mentioned before, which is $14,800 billion in 2019.
A few years ago, the future of classic, traditional stores and physical retail outlets in general, like shopping malls [the American "Malls"], seemed uncertain. The rise of ecommerce had led to the closure of thousands of retail outlets across the USA.
The closure of traditional stores in America is ongoing, but a future for traditional stores in America is beginning to emerge, carving out a new role as support for online sales. One example is Bonobos, where you can try and buy all catalog clothing items in-store, which are then ordered online and delivered in two/three days.
An increasingly important part of retail sales is represented by ecommerce. Online sales in the USA were:
Online sales 2022: $1,003 Billion. For the first time, online sales in America exceeded $1,000 billion
2019: $548 Billion; +6.6%
and equal to 14.4% of "core" retail sales for 2019
2018: $514 Billion
and equal to 14.2% of "core" retail sales for 2018
Amazon plays the main role in ecommerce in America, accounting for 40% of all online retail sales in the USA. Beyond B2C online sales, ecommerce is also growing in B2B sales, and in 2019, 33% of wholesale sales in America of consumer goods were conducted online. Also in 2019, B2B ecommerce in the USA exceeded a trillion dollars [this value refers to online sales that also include industrial goods typically aimed at businesses]
| Year 2018 | $/Billion | % |
|---|---|---|
| Goods |
$4.6 |
35% |
| Durable Goods | $1.7 | 13% |
| Cars | $0.5 | 4% |
| Furniture | $0.4 | 3% |
| Leisure | $0.5 | 4% |
| Other Durable Goods | $0.3 | 2% |
| Consumer Goods | $2.9 | 23% |
| Food | $1.0 | 8% |
| Clothing | $0.4 | 3% |
| Energy | $0.4 | 3% |
| Other Consumer Goods | $1.1 | 8% |
| Services |
$8.4 |
65% |
| For the Home | $2.2 | 17% |
| Health | $2.2 | 17% |
| Transportation | $0.4 | 3% |
| Leisure | $0.5 | 4% |
| Hotels/Restaurants | $0.8 | 6% |
| Finance | $0.9 | 7% |
| Non-Profit | $0.4 | 3% |
| Other Services | $1.0 | 8% |
TOTAL PRIVATE CONSUMPTION USA |
$12.9 |
100% |
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ExportUSA opens US incorporated companies in all of the United States. We can open both LLCs and corporations
https://www.exportusa.eu/opening-a-company-exportusa.php