The articles below offer general information, opinions, and forecasts and should not be considered advice.
Vantage Financial welcomes guest contributions. Please know the information, opinions, and forecasts expressed in the article below are presented from unassociated parties and do not necessarily reflect the opinions of Vantage Financial Partners Limited. This article is shared as general information only and should not be considered advice.
State GDP Equivalents
June 2021 - Bob Veres
It is sometimes not easy to realize just how big the U.S. economy is compared with the rest of the world. But a recent graphic published by the GZero organization gives a pretty good hint.
Look at the map and notice that North Dakota—one of the smallest states in the U.S. in terms of economic activity (total population: 762,000, roughly the same as Denver, CO), has a state GDP the size of the nation of Latvia. Nearby Minnesota's economy equals all of Ireland's, and Wisconsin's equals Israel's. The Texas economy, all by itself, is as large as Canada's, as is New York's. California's economic activity amounts to roughly the same as the United Kingdom's—the fifth largest economy in the world. Even little Rhode Island has a country-sized GDP, about the size of Senegal's.
In total, the United States makes up 24.42% of the world's aggregate economic activity, rivaled only by China (16.34%), with number 3 Japan (5.79%) a very distant third. Another perspective, this time putting countries on a circular "globe" with the size of their economies represented by area, shows not just the economic size of individual countries but also different global regions. Anybody who worries that the U.S. is falling behind the rest of the world might find these two charts somewhat reassuring.
Sources:https://www.gzeromedia.com/the-graphic-truth-the-50-countries-worth-of-america https://www.infoplease.com/us/states/state-population-by-rank https://worldpopulationreview.com/us-cities https://howmuch.net/articles/the-world-economy-2019
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendation for any individual. Although general strategies and / or opinions are revealed, this post is not intended to, nor does it represent or reflect, transactions or activity specific to any one account. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All data and information is gathered from sources believed to be reliable and is not warranted to be correct, complete or accurate. Investments carry risk of loss including loss of principal. Past performance is never a guarantee of future results.