The gross domestic product (GDP) of California was about 3.23 trillion U.S. dollars in 2023, meaning that it contributed the most out of any state to the country’s GDP in that year. In contrast, Vermont had the lowest GDP in the United States, with 35.07 billion U.S. dollars. What is GDP? Gross domestic product, or GDP, is the total monetary value of all goods and services produced by an economy within a certain time period. GDP is used by economists to determine the economic health of an area, as well as to determine the size of the economy. GDP can be determined for countries, states and provinces, and metropolitan areas. While GDP is a good measure of the absolute size of a country's economy and economic activity, it does account for many other factors, making it a poor indicator for measuring the cost or standard of living in a country, or for making cross-country comparisons. GDP of the United States The United States has the largest gross domestic product in the world as of 2023, with China, Japan, Germany, and India rounding out the top five. The GDP of the United States has almost quadrupled since 1990, when it was about 5.9 trillion U.S. dollars, to about 25.46 trillion U.S. dollars in 2022.

In 2023, the real gross domestic product (GDP) of California was 3.23 trillion U.S. dollars. This is a slight increase from the previous year, when the state's GDP stood at 3.23 trillion U.S. dollars.

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 39,102 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 214,000 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

The U.S. manufacturing sector plays a central role in the economy, accounting for 20% of U.S. capital investment, 60% of the nation's exports and 70% of business R&D. Overall, the sector's market size, measured in terms of revenue is worth roughly $6 trillion, making it a major industry to do business with. So which U.S. states are the biggest for manufacturing? This article will explore the nation's top manufacturing states, measured by number of employees, based on MNI's database of 400,000 U.S. manufacturing companies.

In 2021, Apple was the largest publicly traded company in California based on revenue. That year, they had a revenue of ****** billion U.S. dollars. Alphabet, Chevron, Wells Fargo and Meta rounded out the top five publicly traded companies in California. Apple Apple is a multinational company headquartered in California. It was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Known for their popular iPhones and Mac computers, they have further expanded into other products such as iPods, Apple Watch, Apple TV, Air Pods, and Apple Pay. It is now one of the world’s largest and most valuable companies. Their worldwide revenue has increased dramatically since 2004, with the largest share of their sales since 2012 coming from the Americas. Despite being one of the most successful technology companies, it has faced a lot of criticism from consumers. Some of the criticisms include tax avoidance, sweatshop use, and environmental destruction. Fortune 500 Companies In 2021, New York and California had the highest number of Fortune 500 companies, followed by Texas, Illinois, and Ohio. For New York, this can be attributed to its being the financial and cultural hub of the country. Fortune 500 Companies are ranked by Fortune magazine, which ranks the the top 500 companies in the United States based on revenue. Companies on this list are both publicly and privately held. The companies that get listed have changed over the years, for a variety of reasons such as company acquisitions, bankruptcies, and changes in the economy.

The statistic shows the gross domestic product (GDP) of the United States from 1987 to 2024, with projections up until 2030. The gross domestic product of the United States in 2024 amounted to around 29.18 trillion U.S. dollars. The United States and the economy The United States’ economy is by far the largest in the world; a status which can be determined by several key factors, one being gross domestic product: A look at the GDP of the main industrialized and emerging countries shows a significant difference between US GDP and the GDP of China, the runner-up in the ranking, as well as the followers Japan, Germany and France. Interestingly, it is assumed that China will have surpassed the States in terms of GDP by 2030, but for now, the United States is among the leading countries in almost all other relevant rankings and statistics, trade and employment for example. See the U.S. GDP growth rate here. Just like in other countries, the American economy suffered a severe setback when the economic crisis occurred in 2008. The American economy entered a recession caused by the collapsing real estate market and increasing unemployment. Despite this, the standard of living is considered quite high; life expectancy in the United States has been continually increasing slightly over the past decade, the unemployment rate in the United States has been steadily recovering and decreasing since the crisis, and the Big Mac Index, which represents the global prices for a Big Mac, a popular indicator for the purchasing power of an economy, shows that the United States’ purchasing power in particular is only slightly lower than that of the euro area.

This statistic provides projected figures for the Gross Metropolitan Product (GMP) of the United States in 2021, by metropolitan area. Only the 100 leading metropolitan areas are shown here. In 2022, the GMP of the New York-Newark-Jersey City metro area is projected to be around of about **** trillion U.S. dollars. Los Angeles metropolitan areaA metropolitan area in the U.S. is characterized by a relatively high population density and close economic ties through the area, albeit, without the legal incorporation that is found within cities. The Gross Metropolitan Product is measured by the Bureau of Economic Analysis under the U.S. Department of Commerce and includes only metropolitan areas. The GMP of the Los Angeles-Long Beach-Anaheim metropolitan area located in California is projected to be among the highest in the United States in 2021, amounting to *** trillion U.S. dollars. The Houston-The Woodlands-Sugar Land, Texas metro area is estimated to be approximately *** billion U.S. dollars in the same year. The Los Angeles metro area had one of the largest populations in the country, totaling ****** million people in 2021. The Greater Los Angeles region has one of the largest economies in the world and is the U.S. headquarters of many international car manufacturers including Honda, Mazda, and Hyundai. Its entertainment industry has generated plenty of tourism and includes world famous beaches, shopping, motion picture studios, and amusement parks. The Hollywood district is known as the “movie capital of the U.S.” and has its historical roots in the country’s film industry. Its port, the Port of Los Angeles and the Port of Long Beach are aggregately one of the world’s busiest ports. The Port of Los Angelesgenerated some ****** million U.S. dollars in revenue in 2019.

The value of exports of China amounted to almost 3.4 trillion U.S. dollars in 2023, meaning that it was, by far, the country with the highest exports worldwide that year. China's export market The value of goods exported from China increased rapidly from 2020 to 2021. By 2021, China accounted for about 15 percent of global merchandise exports and about six percent of global service exports. The leading export products of China were machinery and transport equipment, with an export value of about 1.7 trillion U.S. dollars in 2022. U.S. export market The United States recorded an export value of over two trillion U.S. dollars in 2023, making it the world's second-largest exporter. The main trading partners of the U.S. are Canada, Mexico, and China. In 2022, among the products exported by the U.S., petroleum and coal saw the largest growth in export value at 60 percent. Texas and California were the top two U.S. states ranked by value of exports in 2023. Texas ranked first with exports valued at 444.5 billion U.S. dollars. As far as global imports are concerned, the United States was the leading country as of 2022, with an import value of about 3.4 trillion U.S. dollars.

In 2023, the United States had a real gross domestic product of about 22 trillion U.S. dollars (2017 chained). See the U.S. GDP for further information. Real Gross Domestic Product is an inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices.

Real GDP in the U.S.

The real GDP of the U.S. has increased from 9.37 trillion U.S. dollars (2012 chained) in 1990 to 22 trillion U.S. dollars in 2023. Like many of the worlds major economies, the United States has experienced a steady growth in GDP over the last few years. The Indian economy was expected to experienced growth of 9.4 percent between 2020 and 2021, while China’s GDP was expected to grow 8.1 percent in the same period. One of the defining qualities of the United States’ economy is its diversity and advanced technological advancements. Industries such as finance, real estate, health care, and business and education services are large contributors to the economy, while the manufacturing sector accounts for about 11 percent of the country’s wealth.

The GDP generated by each state can also vary widely based on principal industries and production. In 2021, California had the highest state GDP in the United States, reaching 3.35 trillion U.S. dollars; comparatively, Vermont generated a GDP of 36.17 billion U.S. dollars in that year.