California has long had an economy larger than most nations, but nominal growth has once again seen it slip on the top 10 list.
The state dropped to ninth on the list of world’s largest economies as measured by gross domestic product in 2010, according to a report this month from the Center for Continuing Study of the California Economy.
Brazil, with a 2010 GDP of $2.1 trillion, took the eighth spot from California ($1.901 trillion). India was 10th, at $1.7 trillion.
The United States, including California, was top of the list at $14.5 trillion. China ($5.9 trillion), Japan ($5.5 trillion), Germany ($3.3 trillion) and France ($2.6 trillion) rounded out the top five.
The United Kingdom ($2.2 trillion) and Italy ($2.1 trillion) were sixth and seventh, respectively.
In the early 2000s, California was fifth in terms of GDP, which is the value of its goods and services. But slow growth – 1.7% annually since 2000, adjusted for inflation – has helped faster-growing countries catch up.
The U.S. annual growth rate of 1.6% during that period was slightly lower than California’s.
Stephen Levy, Center for Continuing Study of the California Economy director and senior economist, said the California-Brazil swap is more about Brazil rising than California falling. Brazil’s vast population advantage (190 million to California’s 37 million) and the increasing prices of commodities that Brazil exports are just part of the country’s rise, he said.
“There’s a number of countries that are embracing the technology that … has (been) developed, and they’re in a growth mode,” Levy said. "Exports and rising prices, yes, but generally they’re having great economic gains.”
Levy said California’s economy could soon surpass Italy’s, because of a recession in Italy and a falling euro.
California’s economy is the largest of the 50 states. Texas ($1.207 trillion) and New York ($1.16 trillion) are next.
California’s 2010 GDP is a U.S. Department of Commerce estimate. The nations’ GDP figures come from the World Bank.
© 2012 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
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@ chrissy
About two more weeks and it will be done. Seems like a eternity.
Well hello leeintulsa! How the heck are ya? Are you ready to reconsider that run for POTUS yet? And yea the numbers in this story boggles the mind dont it? But we gotta keep in mind they were taken from 20l0 and alot has happened since then eh?
Bet you cant wait can you bobcat? Well im thinkin about april youll be sayin what the hell was i thinkin! Lmao Its nice for a bit tho! And ty rooney, wasnt meanin 2 preach but that man has way 2 much hate. Not that i think he will do it but ya gotta try!
Not me @ ll:06, as anyone who knows me knows im celebant!
Not me at 11:07 PM
@ chrissy
Yeah, that's kind of what I'm thinking too. After working this many years, it going to feel really strange. Creature of habit and what not.
Well its quite near bobcat thats pretty certain correct? And if you look at all thats going on it pretty much lines up with the biblical theory. And @ lee im alright somewhat! Thanks. I have a double funeral service to attend tomorrow that truly sucks!
Well chrissy, it looks like the troll who idolizes us so much is back.
Oops sorry bobcat didnt realize that was a troll.
I shoulda guessed tho! Now where is our friendly troll exterminator, Ms. Saidi?
Lol guess so bobcat! And he sure is giving me way more credit than i deserve! Im wondering will i be this hot when im 90? Lmao j/k
@ CNN and Nicole Saidi, cant you please do SOMETHING about this? Its gettin extremely tedious.
Not me at ll:2l, ll:23, ll:26, ll:30 and ll:35
@ nsaidi
Where the heck are you when we need you ? The troll is out of con-troll.
The second lee wasn't leeintulsa.
She doesn't work 24/7.
I don't think...