California once again proves itself as the fifth largest economy in the world

California once again proves itself as the fifth largest economy in the world

In this news

California has once again returned to its position as the world's fifth largest economyAccording to a report by L Global economic outlook I posted it International Monetary Fund On April 16th.

California's economy is the fifth largest in the world according to the International Monetary Fund

in the last year, Nominal GDP (or GDP) in Californiacalculated on the basis of Prices 2023reached approximately 3.9 billion dollarsWhich represents a growth rate of 6.1 percent compared to the previous year, according to the report US Bureau of Economic Analysis.

On average per person, The country is ranked as the second largest economy in the world.

For the seventh year in a row, Golden State Maintains its position behind United States, China, Germany and Japan.

The United States ranks first in the world economy

The United States leads the global economy with a nominal GDP exceeding $27 trillion. Far ahead of China's $17 trillion.

Others Three American states. Rankings in the top 20: Texas is ranked 9th, New York is 12th, and Florida is 19th.

Optimism about economic growth in the United States

The report said that growth is expected to rise this year from 2.5% in 2023 to 2.7% in the United States, as the economy recovers from the effects of the crisis. Covid-19 pandemic.

In the meantime, it is expected that China's economy will slow to a growth rate of 4.6% in 2024, compared to 5.2% the previous year.

India, the United States and China are the economies with the best growth prospects

In particular, India's economy, which closely follows California, is on a rapid growth path and maintains its position as the world's largest economy. The sixth largest economy since Super to the UK in 2021according to the report.

The data also predicts a 6.8% growth in the Indian economy by 2024 and 2025, which significantly exceeds the global average of 3.2%, as well as the growth rates in both the United States and China.

Leave a Reply

Your email address will not be published. Required fields are marked *