June 17, 2016

California economy larger than World Number 6 France and Texas is ahead of tenth place Canada

America’s largest state economy is California, which produced $2.46 trillion of economic output in 2015, just slightly above the GDP of France during the same period of $2.42 trillion. California's has a workforce of about 19 million compared to an employment level in France of slightly more than 25 million workers. It takes 32% (and 6 million) more workers in France to produce the same economic output last year as California.

California as a separate country would have been the 6th largest economy in the world last year, ahead of France ($2.42 trillion) and India ($2.09 trillion) and not too far behind No. 5 UK at $2.85 trillion.

America’s second largest state economy – Texas – produced $1.59 trillion of economic output in 2015, which would have ranked the Lone Star State as the world’s 10th largest economy last year. GDP in Texas was also slightly higher than Canada’s GDP last year of $1.55 trillion. However, to produce about the same amount of economic output as Texas required a workforce in Canada (18 million) that was 50% larger than employment in the state of Texas (12 million)

America’s third largest state economy – New York with a GDP in 2015 of $1.44 trillion – produced slightly more economic output last year than South Korea ($1.38 trillion). As a separate country, New York would have ranked as the world’s 11th largest economy last year, ahead of both No. 12 South Korea and No. 13 Russia ($1.32 trillion). Amazingly, it took almost three times as many workers in South Korea (26 million) to produce roughly the same amount of economic output that required only 9.2 million New York workers

SOURCE- American Enterprise Institute

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