California beats Japan, emerges world’s 4th largest economy
California’s economy has overtaken Japan to become the world’s fourth-largest economy, behind only the United States, China, and Germany in global economic rankings
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Sacramento: California’s economy has overtaken Japan to become the world’s fourth-largest economy, behind only the United States, China, and Germany in global economic rankings. California Governor Gavin Newsom made the announcement, citing the latest data from the International Monetary Fund and the US Bureau of Economic Analysis.
The Golden State’s nominal GDP reached $4.1 trillion in 2024, surpassing Japan’s $4.02 trillion, said Newsom’s office amid tensions between California and federal trade policies.
“California isn’t just keeping pace with the world, we’re setting the pace. Our economy is thriving because we invest in people, prioritise sustainability and believe in the power of innovation,” Newsom said in a statement.
The Golden State’s economy has shown remarkable growth in recent years. From 2021 to 2024, California achieved an average nominal GDP growth of 7.5 per cent and the State’s growth rate reached 6 per cent in 2024, according to Newsom’s office.
