Markdown copy of 2026-10-20 Governor California 4th largest economy.html, made 2026-10-20. The original is the authority.
Governor of California
- About
- Priorities
- News
- Join the Administration
- First Partner
- Contact
- To search the site, enter a search term
Official website of the State of California
Resources for California
-
Key services
-
More +
-
Less -
- Popular topics
- Abortion
- Building California
- Climate Action
- Gun Safety
- Mental health care for all
- Opioids
Back to top
News
Apr 23, 2025
California is now the 4th largest economy in the world
What you need to know: California’s economy continues to dominate and grow at a faster rate than the world’s top economies, with new data showing it has overtaken Japan as the 4th largest economy in the world.
SACRAMENTO **—**Governor Gavin Newsom today announced that California has officially overtaken Japan to become the world’s fourth-largest economy, according to newly released data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA).
“California isn’t just keeping pace with the world—we’re setting the pace. Our economy is thriving because we invest in people, prioritize sustainability, and believe in the power of innovation. 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.”
Governor Gavin Newsom
According to the IMF’s 2024 World Economic Outlook data released yesterday, and BEA data California’s nominal GDP reached $4.1 trillion, surpassing Japan’s $4.02 trillion, and placing California behind only the United States, China, and Germany in global rankings. California’s GDP figure is based on the latest state-level GDP data from the BEA.
Outperforming the nation
California’s economy is growing at a faster rate than the world’s top three economies. In 2024, California’s growth rate of 6% outpaced the top three economies: U.S. (5.3%), China (2.6%) and Germany (2.9%). California’s success is long-term –the state’s economy grew strongly over the last four years, with an average nominal GDP growth of 7.5% from 2021 to 2024. Preliminary data indicates India is projected to surpass California by 2026.
California is the backbone of the nation’s economy
With an increasing state population and recent record-high tourism spending, California is the nation’s top state for new business starts, access to venture capital funding, and manufacturing, high-tech, and agriculture.
The state drives national economic growth and also sends over $83 billion more to the federal government than it receives in federal funding. California is the leading agricultural producer in the country and is also the center for manufacturing output in the United States, with over 36,000 manufacturing firms employing over 1.1 million Californians.
The Golden State’s manufacturing firms have created new industries and supplied the world with manufactured goods spanning aerospace, computers and electronics, and, most recently, zero-emission vehicles.
Protecting California’s economy
Governor Gavin Newsom is protecting California’s economy, and last week filed a lawsuit in federal court challenging the president’s use of emergency powers to enact broad-sweeping tariffs that hurt states, consumers, and businesses. The lawsuit seeks to end President Trump’s tariff chaos, which has wreaked havoc on the economy, destabilized the stock and bond markets, caused hundreds of billions of dollars in losses, and inflicted higher costs for consumers and businesses. These harms will only continue to grow, as President Trump’s tariffs are projected to shrink the U.S. economy by $100 billion annually.
Economy, Press releases, Recent news, Top story
Recent news
NEW: California revenues come in $2.9 billion above forecast as state’s innovation economy continues to grow
Oct 20, 2026
News Nine “unicorn” billion-dollar start-ups underscore state’s economic strength and innovation leadership What you need to know: September revenues came in nearly 15% above forecast, bringing in $2.9 billion more revenue, as nine new California unicorn startups…
Governor Newsom announces new tool to make it easier to access and find a state job
Oct 19, 2026
News What you need to know: California is making the state hiring process easier and more modernized, with a new AI matching tool that allows job seekers to find a state job that is right for them, by matching their skills with state job opportunities and reducing the…
Governor Newsom announces historic new ocean protections as Trump pushes offshore drilling
Oct 19, 2026
News California protects more coastal waters than ever before with its first new marine protected areas in over a decade and historic tribal partnerships What you need to know: As Donald Trump pushes to open California’s coast to new offshore oil drilling, Governor…
About
- Contact us
- Sign up for news updates
- Join the Administration
- Organizational chart
Initiatives
Awareness campaigns
Clemency & Parole
Footer Utility Links
Footer Social Media Links
Website Publishing Information
Powered by: CAWeb Publishing Service
© Copyright