According to a new study conducted by the American Enterprise Institute (AEI), the Gross Domestic Product (GDP) of every state in the United States is equal to a major country in the globe. The AEI used the data gathered by the International Monetary Fund and the Bureau of Economic Analysis to compare the GDP of every state to a country.
The Sixth-Biggest Economy in the World
California is the U.S. state that has the biggest economy. In 2015 alone, it has generated around USD 2.44 trillion of economic yield. You can easily compare its GDP to France that has earned USD 2.42 billion in the same year. What’s interesting about this is that France has six million more workers than California, but the latter still managed to produce more GDP. This reveals that Americans can outperform their European brothers when it comes to productivity.
As a matter of fact, California was even included into the GDP global ranking based on country. It came in sixth, which meant that it was ahead of Brazil, Italy, India and France.
The Real State of Oil-Rich Nations
With the statistics revealed, it placed oil-rich nations into an interesting position. Despite the wealth that they get from their oil resources, Pennsylvania’s USD 689 billion and Illinois’ USD 775 billion GDP still outshines Saudi Arabia’s USD 653 billion.
United Arab Emirates’ GDP did go hand in hand with Minnesota, but it still lagged behind 15 other American states. The same happened with Iran that might have outpaced Maryland, but still came behind 14 states.
The statistics herewith exposes the outrageous economy of the country that Americans live and work in. The U.S. economy is probably the biggest economic instrument ever in the history of humanity.