California’s GDP is expected to overtake Germany’s as the fourth largest economy in the world after the US, China and Japan, according to Bloomberg.
In the past three years, the Golden State’s revenues and market capitalization rose by 147% and 117%, while Germany gained 41% and 34%, according to data compiled by Bloomberg.
California’s top three industries are technology hardware, media and software, increased its sales by 63%, 95% and 115%, and market valuations rose by 184%, 54% and 58%.
Germany’s top three industries are health care, consumer discretionary and industrial products, increased its sales by 43% and declines of 2% and 7%, while market valuations rose by 40%, 8% and 10%.
Last year, Germany’s nominal GDP was $4.22 trillion over California’s $3.357 trillion, but Europe’s largest economy is expected to barely grow in 2022 and shrink in 2023, due to an energy crisis and the war in Ukraine.
However, the state’s current data won’t be released until 2023, but one forecast implies that California is ahead by $72 billion given the state’s recent growth rate.
