GDP OF USA

-SUBMITTED BY
CHINU MOORARKA
SHAMBHAWI SINHA
ANKIT AGARWAL
ASHESH MATHUR
SAMRIDDHI KHATRI
 GDP
Gross domestic product (GDP) is a monetary measure of the value of all final goods and services produced in a period (quarterly
or yearly). Following are details for GDP of USA
• World's largest economy by Nominal GDP. Estimated GDP for 2019 is $21.439 trillion
• GDP rank- 1st (Nominal, 2018) ,2nd (PPP,2018)
• Tenth-highest per capita GDP
• GDP per capita rank - 8th (nominal; 2018),10th(PPP; 2018)
• 22% of nominal global GDP and 17% of gross world product
 Composition
• CONSUMPTION : Household consumption: 68.4%,Government consumption: 17.3%,
Total consumption -$12.89 trillion
• INVESTMENT : Investment in fixed capital: 17.2%,Investment in inventories: 0.1%
Total investment - $3.39 trillion
• GOVERNMENT SPENDING: 17 % ,Total spending : $3.18 trillion
• NET EXPORTS :Exports of goods and services: 12.1%,Imports of goods and services: −15%
Total Net Exports : $3.45 trillion
 Comparison keypoints between India and Usa

Factor India Usa

GDP USD 2.6 Lakh crores USD 19.39 lakh crores
Literacy rate 74.04 % 99 %
Unemployment rate 6.1 % 3.7%
imports USD 444052 Mil USD 2407390 mil
Exports USD 294364 mil USD 2500000 mil
 Growth rate
• GDP growth rate measures how fast the economy is growing

• Growth rate =
𝑅𝑒𝑎𝑙 𝐺𝐷𝑃 𝑖𝑛 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑦𝑒𝑎𝑟 −𝑅𝑒𝑎𝑙 𝐺𝐷𝑃 𝑖𝑛 𝑝𝑟𝑒𝑣𝑖𝑜𝑢𝑠 𝑦𝑒𝑎𝑟
𝑅𝑒𝑎𝑙 𝐺𝐷𝑃 𝑖𝑛 𝑝𝑟𝑒𝑣𝑖𝑜𝑢𝑠 𝑦𝑒𝑎𝑟
* 100

• Current year GDP (estimated )-21200.00 USD Billion , Previous Year GDP - $20494.10 USD bn

• Growth rate = (
21200 −20494.1
20494.1
) *100 = 3.44 %
 Trade with India
U.S. goods trade deficit with India was $21.3 billion in 2018,services trade deficit of an estimated $3.0 billion with
India in 2018
Table 1: US good trade with India Table 2 : Agricultural trade with India
2017 2018 2017 2018
Total 74.3 87.5 Total 4.2 4.2
Exports 25.7 33.1 Exports 1.6 1.5
Imports 48.6 54.4 Imports 2.6 2.7
Balance -22.9 -21.3 Balance -1.0 -1.2
• India is currently our 9th largest goods trading partner with $87.5 billion in total (two way) goods trade during 2018.
• Leading services exports from the U.S. to India were in the travel, intellectual property (computer software, audio
and visual related products), and transport sectors.

Table 3 : Manufacturing trade with India Table 4: Services trade with India
 HARLEY DAVIDSON

• Donald Trump has again criticised India's high import tariff on the iconic
Harley Davidson motorcycles as "unacceptable" while acknowledging that
his "good friend" Prime Minister Narendra Modi has reduced it from 100 per
cent to 50 per cent. When India exports to USA, tax is 0. But when india
imports, tax is 100%.
 DAIRY PRODUCTS

• India is ready to allow dairy imports from the US, if Washington can
guarantee that those don’t violate religious sentiments here
 OTHER ISSUES
• Washington has demanded lower rates on seven tariff lines, including mobile phones, smart watches
and telecom network equipment. The import duty on these is 20%, yielding revenue of $3.2 billion to
India.
However, India has explained that concessions can’t be given on two grounds.
• One, the US exports to India of these products are just about 2% of India’s total imports in this
category, and unlikely to have any significant benefit to Washington.

• Second, since India can’t give tariff cuts only for the US, as such concessions have to be given on the
most favoured nation basis under the global trade rules, China too will benefit from the incentive.
THANK
YOU