FINANCE

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FINANCE

How much is the finance industry worth?

The finance industry is among the top industries of the world because, in the end, it is the industry that keeps other industries going. The finance industry will be worth a hefty $26.5 trillion by the next year. To put that number in perspective, the entire budget of the USA for this fiscal year is a record high and it is just 4.829 trillion dollars.

 

Is the finance industry growing?

Yes, the finance industry is growing. The finance industry has a 6.5% rate of annual growth as of now. That might appear to be a good rate of growth but that is not too high compared to the 9% average of all the industries. However, for an industry with a market cap of 26.5 trillion USD, even a 6% growth rate is colossal.

 

What percentage of GDP is Finance?

Looking into the data of the American financial industry and the total GDP of the country, the Finance industry is currently worth 20% of the entire GDP of the USA. However, this is not only the finance industry. In the USA, this industry consists of finance, Insurance and real estate.

 

How many people are employed in the financial industry?

The finance industry is a huge one. It can be seen from the worldwide market cap of $26.5 trillion and from the phenomenal 20% share in the US GDP. According to the Bureau of Labor Statistics, the IT industry employed as much as 6.1 million people in the US alone in 2018, the number is expected to have risen after that.

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