<P> The US economy is fueled by abundant natural resources , a well - developed infrastructure , and high productivity . It has second highest total estimated value of natural resources , valued at $45 trillion in 2016 . Americans have the highest average household and employee income among OECD nations , and in 2010 had the fourth highest median household income , down from second highest in 2007 . It has been the world 's largest national economy ( not including colonial empires ) since at least the 1890s . The U.S. is the world 's third largest producer of oil and natural gas . In 2016 , it was the largest trading nation in the world as well as the world 's second largest manufacturer , representing a fifth of the global manufacturing output . The US also has not only the largest economy , but also the largest Industrial sector , at 2005 prices according to the UNCTAD . The US not only has the largest internal market for goods , but also dominates the trade in services . US total trade amounted to $4.92 trillion in 2016 . Of the world 's 500 largest companies , 134 are headquartered in the US . </P>
<P> The US economy is fueled by abundant natural resources , a well - developed infrastructure , and high productivity . It has second highest total estimated value of natural resources , valued at $45 trillion in 2016 . Americans have the highest average household and employee income among OECD nations , and in 2010 had the fourth highest median household income , down from second highest in 2007 . It has been the world 's largest national economy ( not including colonial empires ) since at least the 1890s . The U.S. is the world 's third largest producer of oil and natural gas . In 2016 , it was the largest trading nation in the world as well as the world 's second largest manufacturer , representing a fifth of the global manufacturing output . The US also has not only the largest economy , but also the largest Industrial sector , at 2005 prices according to the UNCTAD . The US not only has the largest internal market for goods , but also dominates the trade in services . US total trade amounted to $4.92 trillion in 2016 . Of the world 's 500 largest companies , 134 are headquartered in the US . </P>
when did the united states become the world 's largest economy
when did the united states become the world 's largest economy
the 1890s
the 1890s