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State Economy
The United States is one of the largest and most technologically developed countries in the world. The Gross Domestic Product of the country in terms of
purchasing power parity of the country has reached at $12.36 trillion (2005 est.).
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North Carolina EconomyAgriculture and Industry in North CarolinaNorth Carolina economy is a set of human and social activities and institutions related to the production, distribution, exchange and consumption of agriculture and industry goods and services. The balance between North Carolina various economic sectors differs largely between various regions and other states in the US.
North Carolina's economy has grown far more diverse in recent years.
The new economic leaders are in the technology and service sectors,
which are growing rapidly. However, traditional industries such as agriculture
and textile production have helped to make North Carolina the largest
agricultural and industrial producer in the Southeastern United States.
North Carolina Agriculture and IndustryNorth Carolina Agriculture:Poultry and eggs, tobacco, hogs, milk, nursery stock, cattle, soybeans. North Carolina Industry:Tobacco products, textile goods, chemical products, electric equipment, machinery, tourism. According to the Bureau of Economic Analysis, the state's 2003 total gross state product was $314 billion. Its 2003 Per Capita Personal Income was $28,071, 38th in the nation. North Carolina's agricultural outputs are poultry and eggs, tobacco, hogs, milk, nursery stock, cattle, and soybeans. Its industrial outputs are tobacco products, textile goods, chemical products, electric equipment, machinery, and tourism. Charlotte, the largest city in the state, is also the nation's largest banking presence outside of New York City. North Carolina is also the largest film making state outside of California. Movie studios are located in Shelby, Raleigh, Durham, Charlotte, and the most popular, EUE Screen Gems Studios in Wilmington. Some of the films and television shows filmed there include: Dawson's Creek, One Tree Hill, Cape Fear, Maximum Overdrive and The Crow. |
State Economies
A central feature of the US economy is a reliance on private decision-making
("economic freedom") in economic decision-making. This is enhanced by relatively low levels of
regulation, taxation, and government involvement, as well as a court system that generally protects
property rights and enforces contracts.
The US is rich in mineral resources and fertile farm soil. It also has extensive coastlines on the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes along the US border with Canada - provide shipping access. These waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit. |
