The USA are the biggest national economy in the world. This is demonstrated, among other factors, by the gross domestic product (GDP) of 14.8 trillion Euros in 2015. The economic power of the country is underlined by the fact that more than a quarter of the world’s biggest companies have their headquarters in the USA.
Due to the diverse range of industries, which include petroleum, automotive, telecommunications, aerospace, chemical industry and electronics, the USA are among the three strongest exporting nations in the world. The biggest trade partners are Canada, China, Mexico, Japan and Germany, which is the biggest partner inside the European Union. Of the 28 EU-Members Germany has exported the largest amount of goods to the USA by far, totaling 1.2 trillion Euro in 2015.
On the East coast Bavaria is well represented in the area between New York and Boston. Global leaders like IBM, General Electric, Biogen and Pfizer, which are at home in Bavaria as well, originate from there. This area also possesses 3 out of the 10 best Startup-Ecosystems.
- New York is in the second place after Silicon Valley,
- Boston is ranked 4th and
- Chicago ranked 7th.
Strong economic growth is tangible in the traditional sectors: financial technology and media in New York and BioTech, MedTech and energy technology in the Boston area.