California is now the world’s fourth largest economy
April 23, 2025

Gov. Gavin Newsom
By KAREN VELIE
Gov. Gavin Newsom today announced that California has officially overtaken Japan to become the world’s fourth-largest economy.
“California isn’t just keeping pace with the world—we’re setting the pace,” Newsom said in a press release. “And, while we celebrate this success, we recognize that our progress is threatened by the reckless tariff policies of the current federal administration. California’s economy powers the nation, and it must be protected.”
California’s nominal gross domestic product (GDP) reached $4.1 trillion in 2024, surpassing Japan’s $4.02 trillion, and placing California behind only the United States, China, and Germany in global rankings, according to newly released data from the International Monetary Fund and the U.S. Bureau of Economic Analysis.
Top seven economies in the world
In 2024, California’s 6% growth rate outpaced the United State’s 5.3% rate, China’s 2.6% rate and Germany’s 2.9% rate. Preliminary data indicates India is projected to surpass California by 2026.
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