The United States’ comparative advantage in science and technology makes it a global leader in technological innovation and the application of new technology to economic activity. In addition, vast US natural resource endowments and state-of-the-art technology allow it also to sell large volumes of materials to the rest of the world. For example, the United States has long been the largest exporter of agricultural products in the world. In addition, this combination has recently also turned it into the largest exporter of refined oil products.
