California just leapfrogged Japan to become the world’s fourth-largest economy

California has officially become the world’s fourth-largest economy, bumping Japan down to fifth, according to new data from the International Monetary Fund and the Bureau of Economic Analysis, Governor Gavin Newsom announced. 

The Golden State’s nominal GDP reached $4.1 trillion in 2024, surpassing Japan’s $4.03 trillion, and now trails only the US ($29.2 trillion), China ($18.7 trillion), and Germany ($4.7 trillion). Within America itself, it’s 51% bigger than Texas ($2.7 trillion), the country’s second-largest economy.

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