2005, but had a small impact on overall GDP growth for the year.
Soaring oil prices in 2005-2007 threatened inflation and
unemployment, yet the economy continued to grow through year-end
2007. Imported oil accounts for about two-thirds of US consumption.
Long-term problems include inadequate investment in economic
infrastructure, rapidly rising medical and pension costs of an aging
population, sizable trade and budget deficits, and stagnation of
family income in the lower economic groups. The merchandise trade
deficit reached a record $847 billion in 2007. Together, these
problems caused a marked reduction in the value and status of the
dollar worldwide in 2007.

United States Pacific Island Wildlife Refuges
no economic activity

Uruguay
Uruguay's economy is characterized by an export-oriented
agricultural sector, a well-educated work force, and high levels of
social spending. After averaging growth of 5% annually during
1996-98, in 1999-2002 the economy suffered a major downturn,
stemming largely from the spillover effects of the economic problems
of its large neighbors, Argentina and Brazil. For instance, in
2001-02 Argentina made massive withdrawals of dollars deposited in
Uruguayan banks, which led to a plunge in the Uruguayan peso and a
massive rise in unemployment. Total GDP in these four years dropped
by nearly 20%, with 2002 the worst year due to the banking crisis.
The unemployment rate rose to nearly 20% in 2002, inflation surged,
and the burden of external debt doubled. Cooperation with the IMF
helped stem the damage. Uruguay in 2007 improved its debt profile by
paying off $1.1 billion in IMF debt, and continues to follow the
orthodox economic plan set by the Fund in 2005. The construction of
a pulp mill in Fray Bentos, which represents the largest foreign
direct investment in Uruguay's history at $1.2 billion, came online
in November 2007 and is expected to add 1.6% to GDP and boost
already rising exports. The economy has grown strongly since 2004 as
a result of high commodity prices for Uruguayan exports, a strong
peso, growth in the region, and low international interest rates.

Uzbekistan
Uzbekistan is a dry, landlocked country of which 11%
consists of intensely cultivated, irrigated river valleys. More than
60% of its population lives in densely populated rural communities.
Uzbekistan is now the world's second-largest cotton