Los Angeles, California — Governor Gavin Newsom don proclaim say California don become the fourth-largest economy for the world, trailing only the United States, China, and Germany. This new ranking come as California’s nominal gross domestic product (GDP) reach $4.1 trillion, surpassing Japan‘s $4.02 trillion, according to new data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis.
“California isn’t just keeping pace with the world — we’re setting the pace,” Newsom talk for one statement. “Our economy dey thrive because we dey invest in people, prioritize sustainability, and believe in the power of innovation.”
As the fastest-growing economy among the top four, California’s GDP don grow at a rate of 6% in 2024, higher than the U.S. growth of 5.3%, China’s 2.6%, and Germany’s 2.9%, Newsom emphasize. The governor dey use California’s economic strength to challenge President Donald Trump’s policies, painting the state as a global economic force wey fit resist federal actions wey fit affect its key industries.
California’s economy account for about 14% of the national GDP, with major contributions from the real estate, finance, and technology sectors, as stated by the Public Policy Institute of California. Omo, the state population grow by about 250,000 people in 2024 thanks to birth rebou and international migration—though the overall number still dey below pre-pandemic levels.
Newsom don express concern say California get plenty to lose from tariffs because of the size of it industries. Last week, the governor file suit against the Trump administration for the tariff hikes, claiming say the president no get authority to enact them without congressional approval. He promise to negotiate with foreign leaders to shield California businesses from retaliatory tariffs.
“While we celebrate this success, we recognize that our progress dey threatened by the reckless tariff policies of the current federal administration,” Newsom add. “California’s economy dey power the nation, and e must be protected.”
Meanwhile, the IMF don significantly reduce its growth forecasts for global economies, reducing the global growth rate to 2.8% for 2025. The U.S. economy dey projected to expand by only 1.8% next year, nearly a percentage point lower than previous estimates. However, the projection also indicate say India fit overtake California in 2026, putting more pressure on the state to sustain its economic gains.
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