The map above was created by matching economic output in US states in 2013 to foreign countries with comparable GDPs, using BEA data for GDP by US state and GDP by country from the International Monetary Fund, via Wikipedia here. For each US state (and the District of Columbia), I tried to find the country closest in economic size in 2013 (measured by GDP), and for each state there was a country with a pretty close match – those countries are displayed in the map above and in the table below. Obviously, in some cases the closest match was a country that produced slightly more, or slightly less, economic output in 2013 than a given US state.
It’s pretty amazing how ridiculously large the US economy is, and the map above helps put America’s GDP of $16.8 trillion in 2013 (and more than $17 trillion in Q4 2013 and Q1 in 2014) into perspective by comparing the GDP of US states to other country’s entire national GDP. For example:
1. America’s largest state economy is California, which produced $2.2 trillion of economic output in 2013, just slightly below Brazil’s GDP in the same year of $2.24 trillion. In 2013, California as a separate country would have been the 8th largest economy in the world, ahead of Russia ($2.1 trillion) and Italy ($2.07 trillion). And California’s population is only 38 million compared to Brazil’s population of almost 200 million, which means California produces the same economic output as Brazil with about 80% fewer people. That’s a testament to the superior, world-class productivity of the American worker.
2. America’s second largest state economy – Texas – produced $1.53 trillion of economic output in 2013, placing it just slightly ahead of the world’s 12th largest country by GDP – Australia – with $1.50 trillion of economic output.
3. Even with all of its oil wealth, Saudi Arabia’s GDP in 2013 at $711 billion was less than the state GDP of Illinois ($720 billion).
4. America’s third largest state – New York with a GDP in 2013 of $1.3 trillion – produced slightly less economic output than Spain’s GDP of $1.35 trillion, even though Spain’s population of 47 million people is more than twice the number of people living in New York (19.6 million). Another example of the world-class productivity of the American workforce.
5. Other comparisons: Florida produces about the same GDP as the Netherlands ($800 billion), Pennsylvania ($644 billion) produces almost as much as the entire country of Switzerland ($650 billion) and Ohio produces more than the entire country of Sweden.
MP: Overall, the US produced 22.7% of world GDP in 2013, with only about 4.4% of the world’s population. Three of America’s states (California, Texas and New York) – as separate countries – would rank in the world’s top 13 largest economies. And one of those states – California – produced more than $2 trillion in economic output in 2013 – and the other two (Texas and New York) produced more than $1.5 trillion and $1.3 trillion of GDP in 2013 respectively. The map and these statistics help remind us of the enormity of the economic powerhouse we live in. So let’s not lose sight of how ridiculously large and powerful the US economy is, and how much wealth and prosperity is being created all the time in the world’s largest economic engine.
|US State||GDP (millions), 2013||Country||GDP (Millions), 2013|
|South Carolina||$183,561||Czech Republic||$198,000|
|District of Columbia||$113,362||Hungary||$124,600|