How the Economy of Your State Compares With Another Country
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America's economy is by far the world's largest and is arguably also its strongest. What's surprising is how the economies of the individual states compare with those of other nations.
A new map shows just how big some of them really are. The map, by the American Enterprise Institute's Mark Perry, is featured in a Business Insider report by Elena Holodny.
It renames each state with a country that has a comparable Gross Domestic Product, or GDP: the total value of goods produced and services provided by a given economy in a year. GDP is "arguably the most important of all economic statistics as it attempts to capture the state of the economy in one number," according to the BBC.
America had a GDP of $17.4 trillion in 2014, a lot larger than that of its next-nearest rival, China ($10.4 trillion). How does your state stack up against the rest of the world?
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California has a GDP similar to that of France, but produces an equivalent amount of products and services with far fewer people, Holodny pointed out. France has about 66.5 million residents; California has just under 39 million. If California were its own country, it would have the sixth-largest economy in the world.
Montana has about the same GDP as Macau, a city-state on a peninsula on the southeast coast of China (it's administered by the People's Republic of China). In 2015 Montana had a population of just over a million, according to the Census Bureau. Macau has a population of about 600,000.
Here's a shock: Massachusetts, renowned for the quality of its education system, has an economy the same size as that of Nigeria.
How big is your state?