California Surpasses Japan as World’s Fourth-Largest Economy After Hitting $4.10 Trillion GDP

The state of California has become a global economic force after surpassing the country of Japan’s Gross Domestic Product.The Golden State’s GDP climbed up to $4.10 trillion in 2024, surpassing Japan at $4.01 Trillion, making it the world’s fourth largest economy, according to data from the International Monetary Fund and the U.S. Bureau of Economic Analysis touted in a recent press release from Governor Newsom. “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,” he boasted in a statement.The official press release claims that the state’s economy also has grown at a faster rate than the three nations ahead of them in economic rankings.“California’s growth rate of 6% outpaced the top three economies: U.S. (5.3 percent), China (2.6 percent) and Germany (2.9 percent),” reads the release. “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 percent from 2021 to 2024.”The Japanese economy’s GDP shrunk due to the pressure of a decreasing and aging population which has led to a workforce reduction and an increase in social care costs, according to the IMF report.Mr. Newsom also used the announcement to rail against the slate of tariffs levied by the Trump Administration.“[W]hile 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.”Last week, California became the first state to file a lawsuit against the administration, with Mr. Newsom claiming that the state had been “disproportionately affected” by the new tariffs.The lawsuit contests President Trump’s use of the International Emergency Economic Powers Act for tariffs, arguing that the act had never been applied for such purposes and that tariff powers belong to Congress.

California Surpasses Japan as World’s Fourth-Largest Economy After Hitting $4.10 Trillion GDP

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