By Benjy Egel
Publiahed: May 04, 2018 – 10:01 AM
Updated: May 04, 2018 03:44 PM
The Golden State is getting even richer.
California is now the world’s fifth-largest economy, according to data released Friday morning by the U.S. Department of Commerce. Its 2017 Gross State Product was $2.747 trillion, surpassing the United Kingdom’s $2.625 trillion Gross Domestic Product.
The new ranking marks the highest point for California’s relative GSP since 2002. The state had slipped to the 10th-largest world economy in 2012, when its GSP was just $2.003 trillion.
Texas was the U.S.’s next highest-producing state with a GSP of $1.696 trillion, followed by New York, Florida and Illinois. Vermont, Wyoming and Montana produced the least valuable goods and service in the U.S.
California trails only Germany ($3.685 trillion), Japan ($4.872 trillion), China ($12.015 trillion) and the United States (16.644 without California) among the world’s leading economies.