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Chapter 3: Q2OQ (page 393)

Logistics accounts for about what percent of the U.S. gross domestic product?

Short Answer

Expert verified

Logistics is a huge business that accounts for about 8-9% of the U.S. gross domestic product.

Step by step solution

01

Step-to-Step answerStep 1: Logistics and its pillars

In today’s time, effective and efficient warehouses, as well as distribution channels, are the most important part of logistics. It is next to impossible to run a smooth logistics business without these two basic points. Warehouses and distribution channels act as a pillar that provides great support to the logistics and helps them to act quickly and responsively.

02

Percent of the U.S. gross domestic product

Logistics business becomes the trend nowadays, as every country tries to expand its business in this field. Likewise, the USA has become almost the number 1 country to build its name in the field of logistics. Almost 8-9% of total GDPis contributed by logistics in theUSA.

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