California becomes world's 4th largest economy, surpassing Japan
State's nominal GDP reached $4.1T last year
ISTANBUL
California’s economy has overtaken Japan’s, becoming the world’s fourth-largest economy, Governor Gavin Newsom announced.
According to data from the IMF and the US Bureau of Economic Analysis, California’s nominal GDP reached $4.1 trillion in 2024, surpassing Japan’s $4.02 trillion.
California now ranks behind the US at $29.18 trillion, China $18.74 trillion and Germany $4.65 trillion.
“California isn’t just keeping pace with the world—we’re setting the pace. Our economy is thriving because we invest in people, prioritize sustainability, and believe in the power of innovation," Newsom said in a statement on Thursday.
He said "our progress" is threatened by the "reckless" tariff policies of the Trump administration. "California’s economy powers the nation, and it must be protected," the governor added.
In 2024, California’s economy grew by 6%, more than the US (5.3%), China (2.6%), and Germany (2.9%).
The 40-million-population state, a tech and entertainment industry hub, leads the US in manufacturing output and is the nation’s top agricultural producer.
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