Mining has always been a rock for Wyomings GDP, but a decline in coal production might force the state to look to more modern industries to maintain its economy. Illinois Copyright 2023 | Florida Chamber of Commerce | All Rights Reserved. Though Nebraska has a much smaller population than the Slovak Republic, its landmass is more than four times that of the European nation. Ranking all 50 states by size in square miles including overall area, land area, and water area. Michigan has a $458.8 billion GDP, roughly in line with the economic output of the South American nation of Argentina. distribution partner, email us at The way North Carolina relies on furniture, Tajikistan is reliant on minerals. Croatia creates fabricated metals and machine tools, while Guyana has seen a boost in gold production, which has compensated for declining sugar production. Three Cs: Cigarettes, coal, and copper are crucial to Montanas economic stability. Florida overtook Indonesia and Mexico's economies during the past year. Missouri - GDP equal to: Cuba ($100billion) plus Marshall Islands ($0.2 billion). Similarly, Texass $1.6 trillion economy is roughly the same size as the economy of Russia, a global superpower and principal geo-political rival of the United States. > Country w/ similar GDP: Iran, Islamic Rep. ($560.9 billion) questions about the economy? From an economic perspective, the 2 trillion dollar Texas economy is about 8% of the 25 million dollar US economy. > Country w/ similar GDP: Hungary ($153.1 billion) - 2018 state GDP: $56.1 billion Within the United States, it contains the highest percentage of people over 65 (17.3%), and the 8th fewest people under 18 (21.9%). U.S. military money and agriculture sustain the small economy of the Marshall Islands. Each countrys 2017 GDP came from the World Bank and is in constant U.S. dollars, as of 2010. > N.J. GDP per capita: $60,684 (Iran, Islamic Rep.: $6,911). 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). South Dakota has become a king in the soybean industry. New Hampshire Colorado > Country w/ similar GDP: Portugal ($238.0 billion) Time to flee to New Zealand? The countrys economy centers around manufacturing, with more than a quarter of exports in 2017 in vehicles or vehicle parts. Meanwhile, Joe Biden casually stated that he might visit the town "at some point" and again claimed that he's spoken to "every . Roulette and slot machines are less prevalent in Chad, which banks on oil and agriculture. Tourism, Florida's biggest industry, contributed $111.7 billion to the state's economy in 2016. > Ala. GDP per capita: $39,523 (Kazakhstan: $10,868). About half of the countrys exports are petroleum. When it comes to real estate, however, consumers should be wary of relying too heavily on estimates from websites like Zillow. Key Facts. While Hawaii exports goods like pineapples and macadamia nuts, oil is its biggest export. Ethiopia is still a country with extreme poverty, but is seeing rapid growth thanks to agriculture. 3. The nation's most closely watched forecasting model . Mining, quarrying, and oil and gas extraction, plus transportation and warehousing are two key contributors to Alaskas GDP. Geographic location has been the key factor in Florida's long and colourful development, and it helps explain . The Florida Chamber of Commerce Stands in Support of Floridas Game-Changing Lawsuit Abuse Reform Package HB 837, New Florida Chamber Statewide Poll Shows Local Businesses and Free Enterprise Supported by Voters, Florida Chamber of Commerce Unveils 2023 Legislative Agenda Where We Stand Outlines Competitive Priorities, Chief Economist Corner: The Coming Global Economic Slowdown and Its Impact on Florida. > Country w/ similar GDP: Angola ($101.7 billion) Thus, the US is 107 times bigger than Portugal. > N.C. population: 10.3 million (Norway: 5.3 million) It's as wide as the lower states and larger than Texas, California, and Montana combined. > GDP: $292.3 billion > Country w/ similar GDP: Kazakhstan ($196.0 billion) In fact, it's 1.076 million km, and has almost 14 million residents according to the province's 2016 data.. Mississippis $100.1 billion in economic output in 2017 closely matches the GDP of the African nation Angola. Floridas growing economy is on the right path forward as the Florida Chamber Foundation, through its Florida 2030 Blueprint, works to grow Floridas economy to the 10th largest in the world by 2030. > Wash. GDP per capita: $64,937 (Norway: $91,219). As you can see, BC is larger than the UK (243,600 km) and Ireland (84,420 km). > Ill. GDP per capita: $58,217 (Saudi Arabia: $20,771). > Country w/ similar GDP: Qatar ($173.4 billion) Nigeria, meanwhile, is one of the worlds largest oil producers. The Florida Chamber thanksGovernor DeSantis for his continued leadership and for keeping Floridas economy open during the global pandemic. - GDP higher than: 182 of 212 countries Qatar, an oil-rich Middle Eastern nation is one of the wealthiest countries in the world, with a GDP per capita of $65,694. Over 11,000 miles of rivers, streams and waterways are located within the state. People arent just getting the virus, they are dying from it. Tim Wenger. population: 6.9 million (Norway: 5.3 million) > Va. population: 8.5 million (Nigeria: 190.9 million) One of the wealthiest states in the country, Massachusetts has a GDP per capita of $71,456. Alaska, which is the largest state, has among the lowest state populations in the country. Florida was the 27th state to be admitted to the Union in 1845. Wed miss the sunshine and the states lubricous politicians, and Kiwi-man stories couldnt possibly hold a candle to their Florida-man equivalents. > GDP: $63.9 billion > Country w/ similar GDP: Uzbekistan ($65.8 billion) > GDP: $322.4 billion Floridas $883.1 billion GDP is the fourth largest of all states and is relatively close to Netherlands GDP of $918.3 billion. One of the nations leading coal producers, West Virginias economy is heavily based on resource extraction. GDP per capita: $48,377 (Romania: $11,045). Yes, cheese is a major contributor to Wisconsins GDP, but a recent surplus due to lack of milk consumption by consumers has created concern. The Solomon Islands economy relies on agriculture, fishing, and forestry remain constants in. Starting with the basics, the World Health Organization and Johns Hopkins University track COVID cases and deaths in about 238 nations. 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. Still, their populations closely align, as they are each home to some 5.6 million people. > N.D. population: 755,393 (Ghana: 28.8 million) Wisconsin Everyone knows that the top two economies in the world are China and the U.S., and the U.S. is first by a decent margin and has been top for around a century now. Internal corruption and uncertainty in the European Union have similarly worsened Romanias economic outlook. - GDP equal to: Croatia ($61 billion) plus Guyana ($3.9 billion). The United States has struggled to contain COVID-19, despite a comparatively well-financed health care system and early access to the vaccine. Michigan Arizona also has a slightly smaller population, with 7.0 million residents compared to Israels 8.7 million. About 40% of all coal in the United States is mined in Wyoming, and the state is also home to the largest uranium mining operations in the country. > Ore. population: 4.1 million (Iraq: 38.3 million) If Florida were a country, it . > GDP: $490.2 billion All of the COVID death rates are measured up to Wednesday, Aug. 31. The presence of Chinese firms have long boosted Hong Kongs GDP, but the current unrest there makes the future of the economy uncertain. If youre ready to find an advisor who can help you achieve your financial goals, get started now. North Carolina population: 6.7 million (Singapore: 5.6 million) In Tuvalu, fishing and coconut meat are two notable parts of its small economy. - 2018 state GDP: $33.3 billion > Country w/ similar GDP: Nigeria ($460.5 billion) Brit. - GDP equal to: Hungary ($157.9 billion) plus Benin ($10.4 billion). Economic development, however, is hindered by political and social instability. To determine the states with the best and worst economies, both in the years leading up to the pandemic and during it, 24/7 Wall St. created an index of five measures five-year economic growth, five-year employment growth, the poverty rate, unemployment rate, and share of adults with a bachelors degree or higher. Tourism is a major draw in and around the Channel Islands. Arizona - GDP higher than: 164 of 212 countries 24/7 Wall St. identified the country with the GDP that most closely matches the size of the economy of each state. The Garden State has a rich mix of chemicals, gambling, agriculture, and even perfumes that contribute toward its GDP. GDP per capita: $71,456 (Norway: $91,219). > Ore. GDP per capita: $50,138 (Iraq: $5,450). Construction, real estate and rental and leasing, and health care and social assistance are a few industries that make Floridas GDP so robust. Drag and drop countries around the map to compare their relative size. > Country w/ similar GDP: Norway ($481.8 billion) > Country w/ similar GDP: Kazakhstan ($196.0 billion) Poland has the sixth largest economy in the European Union with a GDP of just over $600 billion, roughly in line with Ohios GDP. The total area of the countryincluding islands like the Azores and Madeira Islandis 92,345 square kilometers (35,655 square miles), slightly smaller than Indiana. > Conn. population: 3.6 million (Portugal: 10.3 million) Like Colorado, Indiana, and Tennessee, Minnesotas economy is similar in size to that of Singapore $322.4 billion compared to $310.0 billion, respectively. This has now been amended. > GDP: $480.9 billion > Country w/ similar GDP: Russian Federation ($1.7 trillion) In other words, Alaska is approximately 10.12 times larger than Florida. > Neb. 1. Though the United States is not the largest country in the world either by landmass or by population it is by far the worlds largest economy, with a GDP of over $17.3 trillion in 2017, equal to nearly a quarter of the global economy. - 2018 state GDP: $73.5 billion Outside of government and government enterprises, real estate and rental and leasing are major factors in Mississippis GDP. While manufacturing is a leader in helping Indianas GDP, administrative and support and waste management and remediation services, plus health care and social assistance, are two notable areas of contribution. However, the mass presence of fossil fuels in the states economic process has drawn criticism from some circles. 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. To help sift out China and Indias underreporting, we excluded those two countries from a third group included on the charts below. The auto industry has been a beacon of Michigans economy for almost a century. Australia is the planet's sixth largest country after Russia, Canada, China, the USA, and Brazil. 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. - GDP equal to: Hong Kong SAR, China ($362.7 billion) plus Solomon Islands ($1.4 billion). > Country w/ similar GDP: Netherlands ($918.3 billion) The United States gained its economic-superpower status through consumer spending and highly developed industries that are backed by advanced technology and vast natural resources. A bustling medical industry and retail giants like Target are the backbone of Minnesotas GDP. In Algeria, oil, gas, and inorganic chemicals stabilize the economy. By More workers in East Palestine at the site of the toxic train derailment are reporting intense headaches and nausea, prompting fears that the cleanup could constitute a new 'ground zero' health disaster. > Colo. population: 5.6 million (Singapore: 5.6 million) Less stable is Libyas economy, which suffers from political insecurity, power outages, and a booming black market. If your organization is interested in becoming a Stacker - GDP higher than: 141 of 212 countries Uzbekistan gained independence after the collapse of the Soviet Union in 1991, but it still has a state-controlled economy. The rates are cumulative, so the longer the duration of time overall, 30-day, 7-day the higher the rate will likely be if measured from the same point in time. Tech jobs have made Massachusetts a state with a healthy GDP, and the Bay State sends goods to India, China, and Singapore with regularity. Its GDP compares favourably to that of France, which produced $2.42 trillion during the same period. > GDP: $510.8 billion Kentuckys population of 4.5 million is also closely aligned with New Zealands 4.8 million residents. | Analysis. Kazakhstan, a country 15 times the size of Oklahoma by landmass and nearly five times as large by population, has a similarly sized economy. Four of America's states (California, Texas, New York and Florida . 2022 California Gubernatorial. General taxation revenue is the primary source of funding, but in many countries it is supplemented by specific charge (which may be charged to the individual or an employer) or with the option of private payments (by direct or optional insurance) for services beyond those covered by the public system. - GDP higher than: 192 of 212 countries Virginia South Dakota What a bank (or other lender) is willing to lend you is definitely important to know as you begin house hunting. > W.Va. population: 1.8 million (Oman: 4.6 million) - 2018 state GDP: $124billion All index components used to create this ranking were included at equal weight. 2022 Florida Gubernatorial. > Kan. GDP per capita: $50,970 (Hungary: $15,648). - GDP higher than: 158 of 212 countries [emailprotected]. - 2018 state GDP: $368.9 billion About this page: Side-by-side comparisons of all American counties using frequently requested population, demographic, and social indicators from the United States Census Bureau. Wyoming It's had more deaths . You may also like: Best value public colleges in America, - 2018 state GDP: $569.5 billion Overall, the US produced 24.3% of world GDP in 2017, with only about 4.3% of the world's population. Our smallest state is a giant in the recycling industry. With New York City often considered the epicenter of the world and a place that attracts opulence, it makes sense that New York is a big exporter of diamonds, paintings, rubies, and gold. Oregon Want more of our free, weekly newslettersinyourinbox? > Country w/ similar GDP: Norway ($481.8 billion) > GDP: $883.1 billion Pennsylvania Can you answer these real 'Jeopardy!' - GDP higher than: 127 of 212 countries 1. Dominicas economy has shifted from bananas to tourism. Surprisingly enough, were Florida a country, it would also be considered mid-sized, ranking as the 90th largest country by area, just a tad larger than Suriname. Reddit user Landmarker1YT created a map that makes it easy to visualize which states are comparable, population-wise, to some countries. Vanuatu has more basic industries for income, including food and fish freezing, and meat canning. Follow @TBTimes_Opinion on Twitter for more opinion news. Washington apple producers are hoping for even more gains with the creation of the Cosmic Crisp apple. - 2018 state GDP: $565.8 billion - 2018 state GDP: $318.9 billion Although this makes Germany the largest country in Central Europe and the 6th largest in all of Europe, it's pretty paltry compared to the 3,796,742 square miles (or 9,833,520 square kilometers) of the United States. Pennsylvanias GDP is the closest to that of the petroleum-rich nation Saudi Arabia. And inspired by reddit user irich, who made a hella interesting map to showcase the province's size, we decided to take our own look at just how big Ontario is and spoiler alert, it's MASSIVE. For more information visit The World Factbook. your CMS. Latvia, meanwhile is all about processingfoods, metals, and woodas part of its trade strategy. Tallahassee. Only so much can be gleaned by comparing the United States with its world-leading economy to much smaller and more impoverished countries like Peru and Botswana. Nevada Today, it is one of the most open and developed economies in the world. As of Wednesday, the United States ranked 25th highest for COVID deaths per 100,000 residents since the start of the pandemic. Maine A resource-rich state, Alaskas 1.6 billion barrels of proved crude oil reserves is more than all but five other states. For almost two centuries, cotton has been essential to Oklahomas economy. On 7 August, the government announced a further 25 billion ($29.5bn) stimulus package which included plans to extend its furlough scheme for up to Peru is the 20th largest country in the world, with a total area of approximately The US economy is so big . - GDP equal to: Israel ($370.6 billion) plus Turks and Caicos Islands ($1billion). - 2018 state GDP: $169.3 billion Tech industries have certainlyboosted the Golden States economyThe Guardian recently noted how Silicon Valley alone would be one of the worlds richest countries. In fact, Florida is the 3rd most populous state in America. While Alaska had one of the lowest GDPs in 2018, it still tops the combined total of Slovenia and American Samoa. Massachusetts has a $490.2 billion economy, about the same size as Norways. Investing in real estate can diversify your portfolio. New Jersey on > GDP: $546.5 billion Most of us rely on our smartphones, tablets, and computers when making daily decisions, whether checking Yelp for restaurant reviews or comparing prices on a new big-screen TV. New Zealands economy is driven largely by agriculture, tourism, and manufacturing. > Alaska population: 739,795 (Guatemala: 16.9 million) That increase is the equivalent of everyone in Largo plus half of Dunedin dying in about three months. Tobacco is also an anchor of Sri Lanka's economy, along with oil and tea. > GDP: $2.6 trillion GDP per capita: $48,170 (Singapore: $55,236). 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. The list was created using 2018 GDP data (released in 2019) from the Bureau of Economic Analysis and the World Bank. In fact, at 665,384 square miles, you could fit Texas into Alaska twice. West Virginia Alaskas economy depends heavily on its energy sector. - 2018 state GDP: $128.4 billion You may also like: Best commute in every state, - 2018 state GDP: $100.3 billion Instead, the state has some of the largest shares of workers employed in the information and finance industries. Peru had the highest rate. - GDP higher than: 192 of 212 countries The size of the 50 U.S. states, listed from largest to smallest. > Texas population: 28.3 million (Russian Federation: 144.5 million) > Ind. It's bigger than Japan (377,900km 2. Visually speaking, Canada and Russia appear to take up approximately 25% of the Earth's surface, when in reality they occupy a mere 5%. In Florida, the population grew by a net of nearly 2.7 million people between 2010 and 2020 from new residents moving in alone, the most of any state in the country. > Country w/ similar GDP: Singapore ($310.0 billion) Alaska is bigger than most people realize. A common debate at the bar and on the internet regularly centers on how one state could stand on its own independently. Washington is one of three states, along with Massachusetts and North Carolina, that has an economic output most similar to that of Norway. > Wyo. Singapores economy is highly developed and relies heavily on exports of computer components. > Country w/ similar GDP: Israel ($297.4 billion) - GDP higher than: 208 of 212 countries In Ecuadors economy, wood products and seafood are bountiful. Science magazine recently called Israels rising death count a grim warning that vaccinations have blunted but not defeated the delta variant. 46. > Country w/ similar GDP: Myanmar ($79.5 billion) - 2018 state GDP: $114.8 billion To that end, Stacker compiled a list comparing every states GDP to countries around the world. > GDP: $458.8 billion > Neb. Scroll to read more Arts Stories + Interviews articles. Compared to U.S. states, South Carolina has a relatively low GDP per capita at just under $40,000, but it is well beyond that of Algeria. - GDP equal to: Myanmar ($71.2 billion) plus Liechtenstein ($6.2 billion). Do Politicians Understand Your Business? So far, this analysis shows that the United States is hardly the star pupil when it comes to keeping its residents safe from COVID, especially given the money and expertise the country has at its disposal. Delawares economy is advanced, with the finance, insurance, and real estate sector accounting for a far higher than average 10.3% of total employment. Though their economies are roughly the same size, Angola is home to nearly 30 million people, 10 times Mississippis population. - 2018 state GDP: $1.7 trillion > Calif. GDP per capita: $65,160 (India: $1,965). A financial advisor can help you understand the advantages and disadvantages of investment properties. Source: Ken and Nyetta / Wikimedia Commons, Source: Anson Fernandez Dionisio / Getty Images, Source: Mostafameraji / Wikimedia Commons, Source: Public Domain / Wikimedia Commons, ALSO READ: Most Dangerous Countries for Women, ALSO READ: 25 Companies With Over 40 Consecutive Years of Dividend Hikes, ALSO READ: Least Fashionable Cities in America, ALSO READ: Largest Industry in Each State, ALSO READ: Towns in Every State Where You May Not Get to the Hospital in Time. But what if Florida were a country? That puts Alabamas GDP above the total for Greece, which is slowly rebounding from high rates of unemployment, thanks to increased GDP from mining. One of the fastest . But the land itself is huge. Still, there are four states with GDPs over $1 trillion. This isnt a theoretical analysis, nor are we looking at something that happened years ago. As Monaco doesnt have an income tax, the country is known as a tax haven. > Pa. GDP per capita: $54,725 (Saudi Arabia: $20,771). We jest kind of. As a result, Singapore is more productive on a per capita basis. The sixth largest producer of crude oil and fourth largest producer of natural gas, Oklahomas $190.9 billion economy is heavily dependent on energy production. China and India have clearly made great leaps forward in both absolute and relative terms. At home, environmental factors, new technology, and ever-changing laws cause the GDPs of some states to stagnate. - GDP equal to: Ethiopia ($84.4 billion) plus Tuvalu ($42.6 million). Technology has made our lives easier in many ways. > Country w/ similar GDP: Israel ($297.4 billion) > GDP: $207.7 billion Apr 30, 2018. The country did have a high proportion of aging people compared to working-age folks in its borders around June 2020, according to the Population Reference Bureau, which may explain a brief period of negative population growth in . Situated along the Mediterraneans eastern shore, Lebanon has long been a regional trading hub. Manufacturing, and finance and insurance are two pillars of Illinois GDP. Thus, the small size and large population makes New Jersey the most densely populated . - GDP equal to: Slovenia ($54billion) plus American Samoa ($0.6 billion). Indian Ocean. Iraq specializes in oil. > GDP: $297.2 billion The lower number is a function of measuring deaths across only 30 days, not 19 months.