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California passes Japan as fourth largest economy (1 Viewer)

Loulit01

Loulit01

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California's economy has overtaken that of the country of Japan, making the US state the fourth largest global economic force.
Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California's growth. The data shows California's gross domestic product (GDP) hit $4.10 trillion (£3.08 trillion) in 2024, surpassing Japan, which was marked at $4.01 trillion. The state now only trails Germany, China and the US as a whole.
"California isn't just keeping pace with the world - we're setting the pace," Newsom said. The new figures come as Newsom has spoken out against President Donald Trump's tariffs and voiced concern about the future of the state's economy.

California has the largest share of manufacturing and agricultural production in the US. It is also home to leading technological innovation, the centre of the world's entertainment industry and the country's two largest seaports.
www.bbc.com

California overtakes Japan as fourth largest global economy

The US state expresses worries that President Donald Trump's tariffs could stunt future growth.
www.bbc.com www.bbc.com

Newsom for President.
 
Loulit01 said:
California's economy has overtaken that of the country of Japan, making the US state the fourth largest global economic force.
Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California's growth. The data shows California's gross domestic product (GDP) hit $4.10 trillion (£3.08 trillion) in 2024, surpassing Japan, which was marked at $4.01 trillion. The state now only trails Germany, China and the US as a whole.
"California isn't just keeping pace with the world - we're setting the pace," Newsom said. The new figures come as Newsom has spoken out against President Donald Trump's tariffs and voiced concern about the future of the state's economy.

California has the largest share of manufacturing and agricultural production in the US. It is also home to leading technological innovation, the centre of the world's entertainment industry and the country's two largest seaports.
www.bbc.com

California overtakes Japan as fourth largest global economy

The US state expresses worries that President Donald Trump's tariffs could stunt future growth.
www.bbc.com www.bbc.com

Newsom for President.
Click to expand...

And still no universal healthcare or high speed rail. Go figure.
 
GDP is a measure of economic activity. It's like adding your spending with your expenses. Guess what? It don't mean you made a profit. It just means you have a potential to make a profit.
 
West Virginia has a higher GDP Per Capita than France
 
California’s per capita GDP is almost 3X that of Japan, but pales when compared to that of Washington D.C. (which is over 2X that of California).

www.statista.com

Real per capita GDP by state U.S. 2023| Statista

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S.
www.statista.com www.statista.com
 
ttwtt78640 said:
California’s per capita GDP is almost 3X that of Japan, but pales when compared to that of Washington D.C. (which is over 2X that of California).

www.statista.com

Real per capita GDP by state U.S. 2023| Statista

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S.
www.statista.com www.statista.com
Click to expand...
We actually have large swaths of farmland, manufacturing plants, etc. which don’t exactly encompass the DC economy. If you want a more fair comparison, city to city, compare DC to say San Jose; DC is still higher but it’s also closer.
 
dmpi said:
GDP is a measure of economic activity. It's like adding your spending with your expenses. Guess what? It don't mean you made a profit. It just means you have a potential to make a profit.
Q
Click to expand...
California is the hart of the US tech industry. Highly profitable companies, the ones that generate the most foreign income for the US is based there.

Apple alone is worth multiple red states in economic activity
 
phoenix2020 said:
We actually have large swaths of farmland, manufacturing plants, etc. which don’t exactly encompass the DC economy. If you want a more fair comparison, city to city, compare DC to say San Jose; DC is still higher but it’s also closer.
Click to expand...


Comparing a very small area like DC, to a large state is not a good comparison, especially as DC is home to very well paid lobbyists
 
Lord Tammerlain said:
California is the hart of the US tech industry. Highly profitable companies, the ones that generate the most foreign income for the US is based there.

Apple alone is worth multiple red states in economic activity
Click to expand...
Apple may be based in CA but it has overseas factories and it sells to all over the world. CA just 'steals' it's GDP which should have realistically been spread all over the world.
 
dmpi said:
Apple may be based in CA but it has overseas factories and it sells to all over the world. CA just 'steals' it's GDP which should have realistically been spread all over the world.
Click to expand...
If this logic rings true, then the entire US steals the GDP of manufacturing outsourced to other nations.
 
dmpi said:
Apple may be based in CA but it has overseas factories and it sells to all over the world. CA just 'steals' it's GDP which should have realistically been spread all over the world.
Click to expand...


The profits are brought to California, the highest paid people by Apple are generally located in California. Ie $ 150 000 and up vs $8000 or lower for people assembling Apple products.

Those very well paid Apple employees spend a lot of money
 
dmpi said:
Apple may be based in CA but it has overseas factories and it sells to all over the world. CA just 'steals' it's GDP which should have realistically been spread all over the world.
Click to expand...
Harley-Davidson makes motorcycles in Thailand. Does that count in Milwaukee's GDP?
 
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