California’s economy, despite facing numerous challenges, continues to thrive with various business endeavors creating vast economic activity statewide. According to the US Bureau of Economic Analysis, 57 US counties produced over $100 billion of goods and services in 2023, with ten of them located in California, more than any other state.
Leading the pack was Los Angeles County, producing $962 billion of goods and services, equivalent to the GDP of Switzerland. Santa Clara County followed with a GDP of $420 billion, comparable to Denmark or Wisconsin. Other California counties in the top 57 included Orange, San Diego, San Francisco, San Mateo, Alameda, San Bernardino, Riverside, and Sacramento.
Despite the impressive economic output, California’s economy grew by only 2% in 2023, slightly below the 2.7% growth of the other 47 giant counties in the US. As California remains the world’s fifth-largest economy, policymakers must remain mindful of potential economic turmoil. With India’s rapidly growing economy closing in, California’s position may soon be challenged.
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