California’s economy has officially reached a new milestone, becoming the fourth-largest in the world, Governor Gavin Newsom announced on Wednesday. With a nominal gross domestic product (GDP) of $4.1 trillion, the state now ranks behind only the United States, China, and Germany, according to data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA). Japan, at $4.02 trillion, ranks fifth.
California Leading the Way
Governor Newsom proudly declared, “California isn’t just keeping pace with the world – we’re setting the pace.” He attributed the state’s thriving economy to investments in people, a focus on sustainability, and a culture of innovation. These factors have helped California maintain its position as a global economic powerhouse.
Challenges to Growth: Tariffs and Trump
Despite the positive economic data, Newsom also took aim at President Donald Trump’s “reckless” tariffs, which he believes threaten California’s progress. He emphasized that California’s economic strength powers the nation, and must be protected against such disruptions.
In response, White House spokesperson Kush Desai criticized California’s policies, claiming the state’s economic challenges stem from intellectual property theft by foreign countries, poor disaster management leading to wildfires, and crime affecting communities. Desai added that under the Trump administration, California could reach new heights if state leadership aligns with federal efforts.
State-by-State Economic Rankings
California’s $4.1 trillion GDP is more than $1 trillion ahead of the second-largest U.S. economy, Texas, which has a GDP of $2.7 trillion. Here’s a look at the rankings of other U.S. states based on preliminary 2024 data:
- California: $4.1 trillion
- Texas: $2.7 trillion
- New York: $2.3 trillion
- Florida: $1.7 trillion
- Illinois: $1.1 trillion
- Pennsylvania: $1.02 trillion
- Ohio: $928 billion
- Georgia: $883 billion
- Washington: $855 billion
- New Jersey: $847 billion
- North Carolina: $839 billion
- Massachusetts: $781 billion
- Virginia: $764 billion
- Michigan: $707 billion
- Colorado: $553 billion
- Arizona: $552 billion
- Tennessee: $550 billion
- Maryland: $543 billion
- Indiana: $527 billion
- Minnesota: $501 billion
- Wisconsin: $451.3 billion
- Missouri: $451.2 billion
- Connecticut: $366 billion
- South Carolina: $350 billion
- Oregon: $331 billion
- Louisiana: $328 billion
- Alabama: $321 billion
- Utah: $301 billion
- Kentucky: $293 billion
- Oklahoma: $266 billion
- Nevada: $261 billion
- Iowa: $257 billion
- Kansas: $235 billion
- Arkansas: $189 billion
- District of Columbia: $186 billion
- Nebraska: $185 billion
- Mississippi: $157 billion
- New Mexico: $141 billion
- Idaho: $128 billion
- New Hampshire: $121 billion
- Hawaii: $116 billion
- West Virginia: $108 billion
- Delaware: $103 billion
- Maine: $99 billion
- Rhode Island: $82 billion
- Montana: $76 billion
- North Dakota: $75.4 billion
- South Dakota: $75.2 billion
- Alaska: $70 billion
- Wyoming: $53 billion
- Vermont: $46 billion