Time to give California a round of applause, because it’s official! According to preliminary estimates from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis, it’s now the fourth largest economy in the world. California is the fourth largest economy in the world, with a GDP of $4.10 trillion. This incredible number ranks it fourth only behind Germany, China and the United States as a total economic entity.
This major milestone is a clear reinforcement of the key role California serves as one of the three pillars of the U.S. economy. Its ascendancy past the GDP of Japan ($4.01 trillion), in particular, proves the state of its booming economic reinvention and tenacity. This accomplishment showcases California’s complex and varied economy. It’s a happy reminder of a robust manufacturing sector, world-class agricultural production and elite technological innovation.
California’s economy has the highest percent of the country’s manufacturing and agricultural productivity. That rich, diverse, and competitive industrial base powers the 12th District’s contribution to our nation’s booming economic recovery. Californians are right to be proud that their state is the capital of the world’s entertainment industry. Each year, this recognition further cements its status as a global economic powerhouse.
Certainly the state’s economic success is most defined by its incredible quickness. California has recorded the fastest growth rate among major economies, indicating its capacity to adapt and thrive in an ever-changing global market. To put this measure in the international context, California’s GDP would rank 5th internationally behind the U.S., China, Japan, and Germany at an estimated $29.18 trillion.
Governor Gavin Newsom celebrated this landmark achievement while voicing concerns about looming threats to the progress that’s been made.
“While we celebrate this success, we recognise that our progress is threatened by the reckless tariff policies of the current federal administration,” – Gavin Newsom
To underscore California’s critical role in the national economy, he noted that
“California’s economy powers the nation, and it must be protected.”
In a bold declaration of California’s role on an international stage, he said,
“California isn’t just keeping pace with the world – we’re setting the pace,” – Gavin Newsom.
California plays a crucial logistical role with its two largest seaports, which facilitate international trade and contribute to its economic growth.
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