ISTANBUL(Bernama-Anadolu): California has overtaken Japan to become the world’s fourth-largest economy, Governor Gavin Newsom announced, citing data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis.
The state’s nominal gross domestic product (GDP) reached US$4.1 trillion in 2024, surpassing Japan’s US$4.02 trillion, according to Anadolu Ajansi (AA).
California now trails behind only the United States (US$29.18 trillion), China (US$18.74 trillion) and Germany (US$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, prioritise sustainability, and believe in the power of innovation,” Newsom said in a statement on Thursday.
However, he warned that the state’s progress was at risk due to what he called the "reckless” tariff policies of the Trump administration, stressing that "California’s economy powers the nation, and it must be protected.”
California’s economy grew by 6 per cent in 2024, outpacing the US (5.3 per cent), China (2.6 per cent), and Germany (2.9 per cent).
Home to 40 million people, California is a leading hub for technology and entertainment, while also topping the US in manufacturing output and agricultural production.
California’s more than US$4 trillion economy accounts for about 14% of US GDP, with the real estate, finance and technology sectors among the top contributors, according to the Public Policy Institute of California.
After years of declines, California’s population grew by roughly 250,000 people last year, driven by a rebound in births and gains from international migration — though the total remains below pre-pandemic levels. - Bernama-Anadolu
