Economy and Industry

The USA has one of the strongest economies in the world, with a national market of about 265 million people. It is the world leader in aeronautics, space technology, electronics, computer hardware and software. One-fifth of the world’s cars are produced there (General Motors, Ford, Chrysler all with headquarters in Detroit – automobile city). Many Americans work in the service sector. They also provide services ranging from banking to transportation and tourism. About a quarter of jobs are in construction and manufacturing industries such as chemicals, clothing and textile, and machinery. Less than 4% of working population are in mining, agriculture, fishing, forestry //лесное хозяйство.

The US economy is based on three-enterprise system: private businesses compete against one another with relatively interference from the government.

The USA is rich in natural resources: oil, natural gas, coal. It is a leading producer of copper, gold, silver, aluminum, iron, and lead. The USA grows wheat, corn, and other crops and raises many cows, pigs, and chickens.

International trade is very important for the USA. Major exports include machinery and high technology equipment, chemicals, cars, aircraft, and grains. Major imports include machinery and telecommunications equipment, oil, cars, metals, and chemicals.

Financial markets are big business for the USA. Over 90 million shares are bought and sold on the New York Stock Exchange every day.

The most important cities in the USA are the following: New York is the largest city and seaport in the USA. It’s a city of skyscrapers and business center of the shipbuilding, machine building, aircraft, electronics, chemical, light and food industries. About 5 hundred transatlantic airplanes come to and leave New York every day.

Chicago is a center of industry for the middle of the country. Chicago is a Great Central Market of the USA; it is an important center of heavy industry, the rail-road, meat-packing and grain center of the nation.

Chicago is an industrial center of Illinois. Illinois leads all other states in the manufacture of farm machinery, electronic parts, diesel engines, railroad cars and food products. It’s a leading steel producing state and is the fourth in coal production.

World War made the city a center of aircraft manufacturing and shipbuilding. Other important industries today are food processing, chemical products, metal goods, machinery and aerospace production. The Boeing Company is the largest employer in the area. The Boeing heavy bomber airplane became a symbol of Seattle.

Engineering occupies the leading position in the USA economy. Automobile industry with the main center of Detroit, aviation and rocket industries in San Diego, Los Angeles, Dallas, New York, Baltimore, shipbuilding industry in Boston, New York, Philadelphia, San Francisco, Los Angeles contribute a great deal to the development of industry of means of transport and communication.

The agricultural regions are the prairies and the Midwest part of the USA where wheat, maize and other crops grown. Cotton is grown in the Mississippi valley. Virginia and Maryland are well known for their tobacco plantations. Rice is grown in the south of the Gulf of Mexico. Cattle-farming is developed in the prairies, sheep-farming is developed in the western region of the country.

The Midwest is often called the Corn Belt. Farming is the Midwest leading industry. Corn is the pioneer American crop. The Indians taught the early settlers how to grow it. As the pioneers began to move westward, corn moved with them. In the Midwest these pioneers found an ideal climate for growing corn.

California is now the country’s most important cotton-producing state. Only Texas grows more cotton.

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