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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 OregonOregon 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 Oregon various economic sectors differs largely between various regions and other states in the US.
Oregon Agriculture and Industry
Oregon's real gross state product in 2012 was estimated to be $187,440 which was just about the national state average, $187,440. Oregon has the 25th highest GSP out of the 50 states.
Oregon is the leading provider of lumber in the United States; about
one-tenth of the nation's timber can be found in the state. There are
nearly 31 million acres of forest land (almost half the state), and
although much of this area is protected from logging for environmental
reasons, the state produces more than 5 billion board feet per year.
Other industries connected to timber include paper and paper items,
printing and publishing.
Cattle, vegetables, nursery stock, fruits and nuts, dairy products, wheat.
Lumber and wood products, tourism, food processing, paper products, machinery, scientific instruments.
The Willamette Valley is very fertile and, coupled with Oregon's
famous rain, gives the state a wealth of agricultural products. Apples
and other fruits, cattle, dairy products, potatoes, and peppermint are
all valuable products. Oregon is also one of four major world hazelnut
growing regions, and produces 95% of the domestic hazelnuts in the United
States. While the history of the wine production in Oregon can be traced
to before Prohibition, it became a significant industry beginning in
the 1970s and Oregon is home to at least four wine appellations. Due
to regional similarities of climate and soil, the grapes planted in
Oregon are often the same varieties found in the French region of Alsace.
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.