California Becomes the World's Fourth-Largest Economy, Overtaking Japan

"Only the United States, China and Germany have larger economies than California," reports CNN. In fact, they add that California "outpaced all three countries with growth of 6% last year," according to the California governor's office (which cites new data from the International Monetary Fund and the U.S. Bureau of Economic Analysis):In 2024, California's growth rate of 6% outpaced the top three economies: U.S. (5.3%), China (2.6%) and Germany (2.9%)... With an increasing state population and recent record-high tourism spending, California is the nation's top state for new business starts, access to venture capital funding, and manufacturing, high-tech, and agriculture. The state drives national economic growth and also sends over $83 billion more to the federal government than it receives in federal funding. California is the leading agricultural producer in the country and is also the center for manufacturing output in the United States, with over 36,000 manufacturing firms employing over 1.1 million Californians. The data shows that last year California accounted for 14% of America's GDP, CNN points out, "driven by Silicon Valley and its real estate and finance sectors."

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