The countrys chief exports include cotton, gas, and gold. Other comparisons: Florida ($967 billion) produced almost the same amount of GDP in 2017 as Indonesia ($1 trillion), even though Florida's labor force of 10.1 million is less than 8% of the size . Select two states below to get started. As one of only a few U.S. states whose GDP tops $1 trillion, Florida brings in more than the Netherlands (which yes, does get an economic boost from marijuana) and Morocco, whose top exports are vehicles and electrical equipment. Arkansas economy generated $114.0 billion in 2017, roughly in line with the GDP of Morocco, a North African nation with a population nearly 12 times that of Arkansas. Its total area is 65,758 square miles. If your organization is interested in becoming a Stacker > N.C. population: 10.3 million (Norway: 5.3 million) Ethiopia is still a country with extreme poverty, but is seeing rapid growth thanks to agriculture. population: 579,315 (Cte dIvoire: 24.3 million) Among other diverse economic growth, Floridas economy has added manufacturing jobs (+6.0%) while the U.S. lost them (-1.7%), landing at #2 in total manufacturing job creation over the past 5 years, and #5 in growth rate. > Ky. GDP per capita: $41,463 (New Zealand: $37,853). Nearly three-quarters of Irans 2017 exports, worth roughly $54 billion, are in petroleum. A significant portion of Florida is on a peninsula with a diverse collection of islands, marshes, springs, swamps, and hundreds of small lakes, rivers, and ponds. New Zealands top exports are more basicdairy, meat, and woodand Curacao banks on factors like tourism and offshore finance. Even more significant is the GDP of each . Of the countrys $60.8 billion in exports, 95% are crude petroleum. > Texas GDP per capita: $57,077 (Russian Federation: $11,441). PAGE CREATED ON : 12/03/2022 LAST UPDATED DATE : 12/03/2022 Utah To that end, Stacker compiled a list comparing every states GDP to countries around the world. Less stable is Libyas economy, which suffers from political insecurity, power outages, and a booming black market. At home, environmental factors, new technology, and ever-changing laws cause the GDPs of some states to stagnate. 1 in GDP, followed by Texas and New York. - GDP equal to: Ethiopia ($84.4 billion) plus Tuvalu ($42.6 million). Conversely, a relatively small amount of New Jerseys economic output comes from natural resources. - GDP equal to: New Zealand ($204.9 billion) plus Curacao ($3.1 billion). However, it also shares borders with Israel and Syria and has been involved in armed conflicts. - GDP higher than: 177 of 212 countries > Country w/ similar GDP: Guatemala ($52.8 billion) As you can see, BC is larger than the UK (243,600 km) and Ireland (84,420 km). questions about the economy? Tennessee is 154 times larger than the island nation of Singapore and is home to 1.1 million more people. New data shows that today Florida, if it were an independent country, would be the 15th largest economy in the world. - GDP equal to: Bangladesh ($274billion) plus San Marino ($1.6 billion). - GDP higher than: 153 of 212 countries Like many other company websites, our website collects cookies to deliver the best user experience to you. Ten Smallest States Map of the 10 smallest US states by size. Shows like The Walking Dead have made the Peach State home, helping boost its GDP past tiny Liechtenstein, and Poland, which has the sixth largest economy in the European Union. Wisconsin is nearly eight times the size of Israel by landmass, but it has a smaller population, and the two areas have a similar economic output of more than $290 billion. > Conn. population: 3.6 million (Portugal: 10.3 million) However, the mass presence of fossil fuels in the states economic process has drawn criticism from some circles. | Column. By GDP, however, the two are more closely matched. Not only do Colorado and Singapore have similar GDPs, but also their population size is nearly identical at around 5.6 million. > Country w/ similar GDP: Singapore ($310.0 billion) If youre ready to find an advisor who can help you achieve your financial goals, get started now. > GDP: $463.6 billion > La. - 2018 state GDP: $368.9 billion The relatively young country on the western shore of the Mediterranean Sea also exports billions of dollars worth of chemical products like medicine, pesticides, and fertilizer. Nevadas economy generated $142.9 billion in 2017, nearly the same as the Middle Eastern nation of Kuwait which happens to be one of the wealthiest nations in both the region and the world. Often, however, they have far more developed economies and therefore higher GDPs per capita than the comparable country. Orlando bids a sad, though not final, farewell to musical theater powerhouse Tod Kimbro, Thundering Spirit Family Pow Wow returns to Mount Dora this weekend, Monster Jam crashes into Orlando's Camping World Stadium this weekend, The Uptown Arts Expo is back in Altamonte Springs in late March. Angola is an oil-rich country, but much of that wealth is located in a contested region partially held by separatists. Florida has more Covid-19 cases than most countries. Rhode Island is the smallest state in the United States. Iraq has about nine times as many people as Oregon, however, meaning its GDP per capita is about one-ninth of Oregons. But how do the countrys COVID numbers measure up to the rest of the world, and what might we learn from the comparison? Though Saudi Arabia and Pennsylvania have similarly sized economies, the Middle Eastern country has a larger population by over 20 million. > Country w/ similar GDP: Iran, Islamic Rep. ($560.9 billion) The average population of Florida's counties is 325,091; Miami-Dade County is the most populous (2,662,777) and Liberty County is the least (7,900). U.S. military money and agriculture sustain the small economy of the Marshall Islands. Motor vehicles, iron, and steel buoy Swedens economy. It is the coal production that helps put Pennsylvania past Turkey in GDP, despite Turkeys solid production of textiles, iron, and steel. - GDP higher than: 191 of 212 countries Washington, particularly Seattle, has developed into a tech hub and is home to companies like Amazon and Microsoft. SmartAssets free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Californias $2.6 trillion economy is the largest of any state. The Bayou State is big on manufacturing, and professional, scientific, and technical services (beignets and gumbo, while delicious, probably only amount to a small amount of the states economy). Missouri New Mexico Consequently, the landscape varies greatly . - GDP higher than: 141 of 212 countries As Monaco doesnt have an income tax, the country is known as a tax haven. Three Cs: Cigarettes, coal, and copper are crucial to Montanas economic stability. Florida overtook Indonesia and Mexico's economies during the past year. storytelling. > Iowa population: 3.1 million (Qatar: 2.6 million) To that end, most Stacker stories are freely available to That oil may go to fueling the aircrafts that regularly fly into Macau, which is a destination for gambling. Additional state level data on economic output by industry from the Bureau of Economic Analysis. Washington apple producers are hoping for even more gains with the creation of the Cosmic Crisp apple. From an economic perspective, the 2 trillion dollar Texas economy is about 8% of the 25 million dollar US economy. > Ill. GDP per capita: $58,217 (Saudi Arabia: $20,771). > GDP: $114.0 billion Brit. Floridas 22 deaths per 100,000 residents in the last month compared to 207 from the start of the pandemic doesnt mean things are getting better. population: 6.7 million (Singapore: 5.6 million) ALLEN: No, Florida never went to another lockdown. 2. Though Iraq is not often considered an economic powerhouse, it has a GDP of over $200 billion very similar to Oregons economic output. > Calif. population: 39.5 million (India: 1.3 billion) Nigeria depends on oil, shipping, and cocoa, while Albanias market is in flux due to close ties with Greece and Italy, countries with volatile economies. In reality, Delaware produces an abundance of clams, crabs, soybeans, milk, paper, rubber, metals, and sand and gravel. - 2018 state GDP: $675.9 billion Per capita GDP by country was calculated by the World Bank and is current as of 2017. Nebraskas 1.9 million residents produce an economic output of over $111 billion, close to that of the Slovak Republic, or Slovakia. Alaska is equal to 7.05 UKs. - GDP equal to: Hong Kong SAR, China ($362.7 billion) plus Solomon Islands ($1.4 billion). However, those stats may not give you a great idea of how Florida's girth actually compares to different countries, since size is often better understood visually. Florida ranks No. Minnesota is one of the larger states by landmass, while Singapore is a small island city-state less than one-three-hundredth the states size. Singapore has a highly developed economy and is a global financial hub. > Country w/ similar GDP: Saudi Arabia ($684.2 billion) and more. Latvia, meanwhile is all about processingfoods, metals, and woodas part of its trade strategy. In other words, the United States is 14 times larger than Texas. North Dakotas economy is roughly the size of the entire African nation of Ghana. But ultimately, you have to live with that decision. Simply replace the FIPS codes in the URL to generate your own comparison. A statement from Mark Wilson, Florida Chamber of Commerce President & CEO regarding Floridas affordable housing: Florida Chamber Foundation Predicts Another Positive Year of Population and Economic Growth in 2023, A statement from Mark Wilson, Florida Chamber of Commerce President & CEO Regarding Historic, Consumer-Focused Property Insurance Reforms Pass During Special Session, Floridas Childhood Poverty Numbers Trending in the Right Direction, 113 of 116 Florida Chamber-Backed Candidates Win General Elections, New Florida Chamber Statewide Poll Shows Governor Ron DeSantis Holding Commanding Lead over Charlie Crist, Moving the Needle on the Six Pillars Driving Floridas Economy, Florida 2030 Blueprint Goal Leader Interest Form, Florida Equality of Opportunity Initiative, Florida Business Alliance for Early Learning Project, Florida Diversity, Equity and Inclusion Project, Florida Chamber Litigation & Regulatory Reform Center, Florida Institute for Political Leadership, International Center for Economic Development. - GDP equal to: Poland ($585.7 billion) plus Latvia ($34.4 billion). State size comparison. Florida's death toll, however, remains lower than Italy's 4,277 in Florida, compared to 34,954 in Italy. At 268,597 square miles, Texas has about 171,902,808 acres of land. > GDP: $142.9 billion Nearly 16% of the states labor force is employed in the professional, scientific, and management sector, the largest share of any state. One of the nations leading coal producers, West Virginias economy is heavily based on resource extraction. Louisianas economy relies heavily on its energy sector. Chile derives much of its wealth from natural resources, primarily copper. In some cases, small areas produce a bigger GDP than larger, as in the case of New Jersey: no. Though Slovenias transition to a market economy following the breakup of Yugoslavia was relatively smooth, the 2012 European financial crisis and ensuing years of fiscal mismanagement have stymied economic growth in the country. > N.M. population: 2.1 million (Ecuador: 16.6 million) - GDP higher than: 202 of 212 countries An important observation: Israel has a high vaccination rate and enjoys a robust health care system accessible to most residents. population: 3.0 million (Morocco: 35.7 million) > Country w/ similar GDP: Ghana ($50.6 billion) - 2018 state GDP: $50.3 billion The table above shows a comparison of 30-year vs. 15-year fixed-rate loans for a $250,000 home with a 20% down payment. 2022 Texas Gubernatorial. - GDP higher than: 159 of 212 countries Its another example of why many Americans can expect to get a booster shot in coming weeks and months. When it comes to real estate, however, consumers should be wary of relying too heavily on estimates from websites like Zillow. Delawares economy is advanced, with the finance, insurance, and real estate sector accounting for a far higher than average 10.3% of total employment. Thats enough for now to hold off Israel, a country that continues to have a rapidly growing economy, thanks to a bustling tech industry. - GDP higher than: 169 of 212 countries Yikes! - GDP equal to: Saudi Arabia ($786.5 billion) plus Guatemala ($78.5 billion). - 2018 state GDP: $233.9 billion Finance, insurance, real estate, rental, and leasing are some key reasons for Arizonas robust GDP, which surpasses Colombia, a country that is being aided by investment and tax reforms, but is still plagued by high inequality. New Jersey, on the other hand, is the 46th smallest state by land size, but it also ranks 11th by population. > Nev. GDP per capita: $47,648 (Kuwait: $33,546). Four of America's states (California, Texas, New York and Florida . While confronted with climate change questions, oil and gas remain a driving force of the economy in Texas. Florida is slightly bigger than the average state, as it ranks 22nd by area. Singapores economy is highly developed and relies heavily on exports of computer components. Floridas $883.1 billion GDP is the fourth largest of all states and is relatively close to Netherlands GDP of $918.3 billion. Foreign direct investment in Bangladesh has the Asian country close to surpassing Connecticuts GDP, while San Marinos economy is heavily dependent on Italy. - GDP higher than: 141 of 212 countries Follow @TBTimes_Opinion on Twitter for more opinion news. All of the COVID death rates are measured up to Wednesday, Aug. 31. In other words, Florida is approximately 42.56 times larger than Rhode Island. A range of factors, including industrial diversity, labor force education levels, household income, and long-term GDP growth, have an effect on a states overall economic strength and its ability to withstand the impact of the pandemic. Saudi Arabias economy is built on the back of its oil exports, and the country is a founding member of the Organization of Petroleum Exporting Countries, or OPEC. To help mitigate those differences, we grouped together Europes five largest economies Germany, U.K., France, Italy and Russia. Portugal's Atlantic coastline is 837 kilometers long, about 520 miles. More than half of Australias $243 billion in exports came from minerals and natural resources like iron, gold, coal, and petroleum. Florida's most populous city is Jacksonville, with an estimated population of 949,611. The COVID-19 pandemic sent economic shockwaves through the U.S. economy, tripling the monthly unemployment to nearly 15% and leading to a more than 30% quarterly decline in GDP by far the largest economic contraction in U.S. history. It's bigger than Japan (377,900km 2. - GDP equal to: Colombia ($331billion) plus Mauritania ($5.2 billion). > GDP: $207.7 billion > GDP: $55.6 billion > Country w/ similar GDP: Romania ($216.3 billion) Its not over, and is likely not even close to being over. Indian Ocean. How did they do it? Australias GDP per capita of $55,926 is lower than New Yorks GDP per capita but is very close to the U.S. GDP per capita of $55,418. > Ill. population: 12.8 million (Saudi Arabia: 32.9 million) Subscribe to our free Stephinitely newsletter. Finding a qualified financial advisor doesnt have to be hard. Floridas growing economy is on the right path forward as the Florida Chamber Foundation, through its. > GDP: $150.1 billion Pennsylvania, particularly in its southwest counties, is a major producer of coal. - GDP equal to: Cameroon ($38.7 billion) plus Sao Tome and Principe ($0.4 billion). > N.J. population: 9.0 million (Iran, Islamic Rep.: 81.2 million) population: 4.7 million (Romania: 19.6 million) Ohio > Ga. GDP per capita: $48,979 (Belgium: $46,079). Massachusetts For reference, Iowas GDP per capita is just $53,798. - 2018 state GDP: $124billion > GDP: $38.7 billion - State population (2019): 3.6 million - State population greater than: 86 of 216 countries. > GDP: $275.6 billion Missouris $275.6 billion GDP most closely matches that of Chile, though the South American country has nearly three times the population of the Show Me State. And Japan, among other countries, has been much more accepting of wearing masks and social-distancing in public spaces.
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