California’s economy has surpassed that of Japan in size, according to recent data.
On April 24, Fox Business reported that an analysis of statistics from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA) showed California’s gross state product had overtaken Japan’s gross domestic product (GDP).
The latest figures from the IMF and BEA indicate that California’s economy stands at 4.1 trillion USD, while Japan’s economy is valued at 4.01 trillion USD.
When compared to national GDPs, California’s economy ranks fourth globally. The Golden State’s economic growth rate reached 6% last year, outpacing the United States (5.3%), China (2.6%), and Germany (2.9%), according to Fox Business.
Governor Gavin Newsom touted California as setting the pace for global economic growth, stating that the economy is thriving because the state invests in people, prioritizes sustainability, and believes in the power of innovation.
However, Newsom pointed out that tariff policies under the Trump administration posed a threat to California’s economic growth, emphasizing the need to protect the state’s economy.
In a statement, the Governor’s office cautioned that if tariffs continue, the U.S. economy could contract by 100 billion USD annually, with the negative impact potentially continuing for an extended period.
