Just The Facts

California Vs. The Rest of the US

How many of the smallest U.S. state economies together equal California’s alone?

Credit: Stas Walenga Shutterstock.com

Takeaways


  • The "Information" industry (Silicon Valley and Hollywood) account for 8% of California’s economy.
  • The size of the Bay Area economy in California amounts to about $667 billion.
  • Apple, Google and Facebook currently have a total market capitalization of $1.66 trillion.

1. The 25 smallest U.S. state economies (not counting D.C.) add up to $2.68 trillion as of 2016 – which is just a bit larger than California’s $2.66 trillion.

2. These bottom 25 state economies (out of 50 overall) range on the small end from Vermont ($31 billion) to South Carolina ($213 billion).

3. The best-known private-sector components of California’s economy are the software and recorded entertainment sectors in places like Silicon Valley and Hollywood, respectively.

4. Together, as the “Information” industry, they account for 8% of California’s economy.

5. Manufacturing, including some of the hardware side of the tech industry and more, is 11%. Government is 12%. Real estate is 17%.

6. California’s agricultural sector also remains a vital factor in the U.S. economy, but generates only about 1% of the state’s economy today.

7. The size of the Bay Area economy, which primarily encompasses San Francisco, Oakland, San Jose and Silicon Valley, amounts to about $667 billion.

8. At that level, the multi-metro area economy is about as large as the GDP of Switzerland ($665 billion).

9. With Apple, Google and Facebook, the Bay area also has the headquarters of the 1st, 2nd and 8th most valuable publicly-traded companies in the world.

10. These three firms currently have a total market capitalization of $1.66 trillion.

Sources: The Globalist Research Center, U.S. Bureau of Economic Analysis, U.S. Census Bureau, World Bank

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