<P> The nation 's economy is fueled by abundant natural resources , a well - developed infrastructure , and high productivity . It has the 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 , they had the fourth - highest median household income , down from second - highest in 2007 . The United States has held the world 's largest national economy ( not including colonial empires ) since at least the 1890s . It is the world 's third - largest producer of oil and natural gas . In 2016 , it was the world 's largest trading nation as well as its second - largest manufacturer , representing a fifth of the global manufacturing output . The U.S. also has both the largest economy and the largest industrial sector , at 2005 prices according to the UNCTAD . The U.S. not only has the largest internal market for goods , but also dominates the trade in services . U.S. 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 nation 's economy is fueled by abundant natural resources , a well - developed infrastructure , and high productivity . It has the 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 , they had the fourth - highest median household income , down from second - highest in 2007 . The United States has held the world 's largest national economy ( not including colonial empires ) since at least the 1890s . It is the world 's third - largest producer of oil and natural gas . In 2016 , it was the world 's largest trading nation as well as its second - largest manufacturer , representing a fifth of the global manufacturing output . The U.S. also has both the largest economy and the largest industrial sector , at 2005 prices according to the UNCTAD . The U.S. not only has the largest internal market for goods , but also dominates the trade in services . U.S. 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 america become world 's largest economy
when did america become world 's largest economy
since at least the 1890s
since at least the 1890s