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.).
Agriculture and Industry in LouisianaLouisiana 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 Louisiana various economic sectors differs largely between various regions and other states in the US.
Louisiana Agriculture and Industry
Louisiana's real gross state product in 2012 was estimated to be $198,548 which was just about the national state average, $187,440. Louisiana has the 23rd highest GSP out of the 50 states.
Louisiana is one of the nation's largest producers of cotton, sugarcane, rice, sweet potatoes and pecans. It is also a major producer of soybeans and corn. Louisiana is the only source of the Tabasco pepper, prized as a condiment across the world. Poultry is the largest livestock industry. The state is also the nation's largest producer of alligator hides and crawfish. Tourism is Louisiana's second
largest industry after forestry (including paper-making and wood producing). Louisiana has more than 13.9 million acres of forests.
Seafood, cotton, soybeans, cattle, sugarcane, poultry and eggs, dairy products, rice.
Chemical products, petroleum and coal products, food processing, transportation equipment, paper products, tourism.
The total gross state product in 2003 for Louisiana was $140 billion. Its Per Capita Personal Income was $26,312, forty-third in the United States. The state's principal agricultural outputs include seafood (It is the biggest producer of crawfish/crayfish in the world), cotton, soybeans, cattle, sugarcane, poultry and eggs, dairy products, and rice. Its industrial outputs include chemical products, petroleum and coal products, food processing, transportation equipment, paper products, and tourism.
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.