Size of California economy

Answer 1

209 Hamilton Avenue Suite 250, Palo Alto, CA 94301-2586 • phone (650) 321-8550 • www.ccsce.com January 2007 Where Does California Rank? California was the world's eighth-largest economy in 2005. According to U.S. Department of Commerce estimates, California's gross state product was slightly more than $1.6 trillion. Gross state product is the value of all goods and services produced in California. It is equivalent to the gross domestic product (GDP) estimates prepared for the nation and other countries. For many years the California economy has ranked fifth, sixth or seventh in the world depending on how its economy compared to that of France and Italy. Recently China has surged ahead in the rankings and according to World Bank estimates, China is now the world's fourth-largest economy, In terms of size, the California economy currently ranks just behind Italy and ahead of Spain and Canada. The next five countries, all with GDPs of near $800 billion are Brazil, South Korea, India, Mexico and Russia. India is likely to become one of the ten largest economies within the next ten years. World's Top 10 Economies in 2005 U.S. $12.5 trillion Japan $ 4.5 trillion Germany $ 2.8 trillion China $ 2.2 trillion UK $ 2.2 trillion France $ 2.1 trillion Italy $ 1.7 trillion California $ 1.6 trillion Spain $ 1.1 trillion Canada $ 1.1 trillion (Gross Product in $Trillions) World Bank GDP estimates can be found at http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf. 209 Hamilton Avenue Suite 250, Palo Alto, CA 94301-2586 • phone (650) 321-8550 • www.ccsce.com January 2007 Where Does California Rank? California was the world's eighth-largest economy in 2005. According to U.S. Department of Commerce estimates, California's gross state product was slightly more than $1.6 trillion. Gross state product is the value of all goods and services produced in California. It is equivalent to the gross domestic product (GDP) estimates prepared for the nation and other countries. For many years the California economy has ranked fifth, sixth or seventh in the world depending on how its economy compared to that of France and Italy. Recently China has surged ahead in the rankings and according to World Bank estimates, China is now the world's fourth-largest economy, In terms of size, the California economy currently ranks just behind Italy and ahead of Spain and Canada. The next five countries, all with GDPs of near $800 billion are Brazil, South Korea, India, Mexico and Russia. India is likely to become one of the ten largest economies within the next ten years. World's Top 10 Economies in 2005 U.S. $12.5 trillion Japan $ 4.5 trillion Germany $ 2.8 trillion China $ 2.2 trillion UK $ 2.2 trillion France $ 2.1 trillion Italy $ 1.7 trillion California $ 1.6 trillion Spain $ 1.1 trillion Canada $ 1.1 trillion (Gross Product in $Trillions) World Bank GDP estimates can be found at http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf.