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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@rooney that wasnt me.im sorry my troll was rattling ur cage.crissy sounds mad.a little overpossesive u think?but just to let u know im a bachelor.
Was about to comment on Cali BUT this blog is getting racy.
I wouldn't think so either banasy. Just a plea for some sanity against idiots like nsaidi's asst.
I met Jed Clampet, they are getting the hell out of Cali. Moving back to the hills.
Good night everyone. I guess it's time for the troll works.
lmao and aint it past their bedtime? Also anyone here surprised that hamsta is a bachelor?? Thats probably the best troll post of the nite roflmmfao!
Yea me too bobcat, long day tomorrow for me you take care. G nite!
a
@crissy that was my troll u dont have to worry bout me wanting rooney.i know u love me and all that.
s kel at 12:21 am look you phoney fake azs. GET stop hiding under others name phony bit*h.
Truth be told i had to ditch my b?tch.she had a bad habit of trying to run everything but knew nothing.send her to pay the bills and she comes back with a new wardrobe then wants to ask me why the cable tv doesnt work.
To the same phony s kel at 12:21am,may you go out driving ,get in a car accident and really phuck yourself up,real s kel signing off at 12:28am. Any fool using my name after that is a FAKE! Nite all my friends. Go to hell fakes.
ya i had to kick her out cuz her economics was worse than california.s?x was good but she thought her p?ss? was made of platinum.
@rooney im sorry i must of been to drunk to remember.i didnt know u loved me that much!did i mention new years eve was my birthday?ur welcome to come try again.
and they always get jealous of my fish tank.if they werent driving my stress level through the roof i wouldnt need to pay so much attention to my tank.