AGN Country Portals

Doing Business in the United States

Published in October 2017

So many international companies and firms have business in the United States. With a market of more than 324 million people, AGN North America has excellent firms to help you and your clients do business here. While most of this market speaks English, 12% speak Spanish and 7% speak other languages.

Technology is a huge part of the economy and technological developments and applications are at the forefront of US companies. IT, pharmaceutical, medical, aerospace and military equipment companies are also important sectors in this vast and somewhat diverse country.

Growth in 2017 exceeded 3%, which is the highest in two years. The GDP per capita income is $59,609 and so is categorized by the World Bank as high income. The United States is the second largest exporting economy in the world, after China. Their top exports in 2017 include:

  1. Machinery / computers: US$190.5 billion (13.1% of total exports)
  2. Electrical machinery, equipment: $167.2 billion (11.5%)
  3. Aircraft, spacecraft: $134.6 billion (9.3%)
  4. Vehicles : $124.3 billion (8.5%)
  5. Mineral fuels including oil: $94.7 billion (6.5%)
  6. Optical, technical, medical apparatus: $82.0 billion (5.6%)
  7. Plastics, plastic articles: $58.4 billion (4.0%)
  8. Gems, precious metals: $57.8 billion (4.0%)
  9. Pharmaceuticals: $47.1 billion (3.2%)
  10. Organic chemicals: $33.9 billion (2.3%)

 

Companies and individuals make most business decisions, and the federal and state governments buy goods and contracts mainly in the private market.

Doing business in the US is easier than in most other countries. There is a lot of flexibility on the part of private companies to make decisions about expansion, new product development and employment. Nearly every sort of business already exists and startups are plentiful and common. Tax and other laws can be complex so it is best to seek the advice of a good accounting firm to help with tax incentives, taxation and regulation.

American companies also are amongst the largest sources of Foreign Direct Investment (FDI) abroad.

For the most up-to-date statistics, this portal incorporates various live data feeds from:

  • The Organisation for Economic Cooperation and Development (OECD)
  • The World Bank
  • The observatory of Economic Complexity

 

 

Use the navigations buttons below to access to more live data:
Inflation, Development indicators, Exports, Trade Balance, and more.

OECD Country Comparison Portal

The window below is a direct feed of regularly updated information from the OECD. It provides data concerning everything from GDP growth, fiscal balance, investment, and unemployment rates to consumption, import volume and export volume. The window allows comparisons between The United States and other countries of the OECD average for these factors.

Inflation (CPI)

Total, Annual growth rate (%)

World Bank Development Indicators

The window below is a feed from the World Bank website and shows the primary World Bank collection of development indicators, compiled from officially-recognized international sources. It presents the most current, accurate and global development data available, and includes national, regional and global estimates. Amongst others it covers critical areas of Agriculture & Rural Development, Climate Change, Economy & Growth, Education, Energy & Mining, Environment, External Debt, Health, Infrastructure and Labor & Social Protection.

Exports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods exported from the United States.

Imports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods imported into The United States.

Trade Balance

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph illustrates the subsequent trade balance of exports and imports to and from The United States.

Destinations

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph shows the destinations of goods and services by country.

 

Business Opportunities:

CANNABIS IN CANADA: GREEN IS GOOD     (Mar 2018)

Later this year, Canada is set to become the first G7 country to legalize recreational, adult-use cannabis. With the once-fledgling sector now boasting a combined market value of around $30 billion, whatever the moral or legal implications, entrepreneurs worldwide are looking to the ‘Great White North’ and considering opportunities to cash in on the so-called ‘Green Rush’.  (Article by Adams & Miles)

find the firm best prepared to serve you

AUSSIE TECH – BIG OPPORTUNITIES FOR DIRECT INVESTMENT     (Jan 2018)

There are huge opportunities for AGN technology clients in Australia. Between 2014 and 2020, the contribution of digital technologies to Australia's economy is forecast to grow 75% to A$139 billion.

Almost all of this growth (97%) is predicted to take place in a range of traditional sectors such as financial services, agribusiness, life sciences, resources and energy. The Australian government warmly welcomes foreign investment in the some critical areas.

find the firm best prepared to serve you

NOWS THE TIME TO REVIEW YOUR FOREIGN CURRENCY LOAN     (July 2017)

Foreign Currency Loans became very popular a few years ago. Depending on the currency they potentially offered consumers and companies low interest rates, at attractive exchange rates. But recent experience has shown they can become a problem where they have been sold to consumers and small firms that may not be familiar with the potential pitfalls of such sudden changes in exchange rates. Many legacy loans are still active and still causing problems.

There are professional ways to hand foreign currency loans through Managed Currency Mortgages. A successful currency manager will move the borrower's debt into a currency which subsequently falls in value against the base currency.

For more information about how to hand foreign currency loans through Managed Currency Mortgages, contact an AGN member that can help you.


AGN News in the region:


January 2018

New Chair for International Business Development Committee


The AGN International Business Development Committee (IBDC) names Tony Sokic of Adams & Miles in Toronto, Canada as new leader.

read more
 

January 2018

AGN Creates New Super Region


AGN International announces the creation of a new “Super Region,” composed of Europe, the Middle East and Africa (EMEA). This region was created to increase opportunities for business development for the firms in both former regions. 

read more
 

AGN Firms in the country


US