Business & Real Estate

California now world’s fifth-largest economy, bigger than Britain

See the reopened Downtown Macy's and K Street Mall after years of construction

A section of Downtown Sacramento's K Street Mall west of 5th Street, including the Macy's store, reopened today after three years of construction closures.
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A section of Downtown Sacramento's K Street Mall west of 5th Street, including the Macy's store, reopened today after three years of construction closures.

The Golden State is getting even richer.

California is now the world’s fifth-largest economy, according to data released Friday morning by the U.S. Department of Commerce. Its 2017 Gross State Product was $2.747 trillion, surpassing the United Kingdom’s $2.625 trillion Gross Domestic Product.

The new ranking marks the highest point for California’s relative GSP since 2002. The state had slipped to the 10th-largest world economy in 2012, when its GSP was just $2.003 trillion.

Texas was the U.S.’s next highest-producing state with a GSP of $1.696 trillion, followed by New York, Florida and Illinois. Vermont, Wyoming and Montana produced the least valuable goods and service in the U.S.

California trails only Germany ($3.685 trillion), Japan ($4.872 trillion), China ($12.015 trillion) and the United States (16.644 without California) among the world’s leading economies.

Benjy Egel: (916) 321-1052, @BenjyEgel

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