in 1960
- the USA reported the GDP of approximately around $0.542
trillion with an annual growth of 2.6%. in
1960.
- after this period the USA experienced
technological changes,change in economic framework,various foreign
countries adapted for open economy and therefore USA started to
manufacture and export the goods and services to these foreign
countries.
- the major contributors were
agricultural and manufacturing units.
due to above mentioned reason,inflation
rate,and other economic variables the GDP of the economy gradually
increased.
in 2019
- the GDP of USA was around $21.428
trillion
- more than 80% is contributed by the
service sector.
- it can be concluded that during 1960s
the economy was depending on primary and secondary sectors that
means agricultural and manufacturing sector but at the present time
the economy is depending upon the tertiary or service
sector.