California surpasses Japan, rising to become the fourth largest economy in the world

ChainCatcher News, the Governor's Office of California announced that California has surpassed Japan to become the fourth largest economy in the world. According to data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis, California's nominal Gross Domestic Product (GDP) reached $4.1 trillion, surpassing Japan's $4.02 trillion, ranking only behind the United States, China, and Germany. Meanwhile, California's economic growth rate has also outpaced the top three economies in the world; over the past four years, California's economy has continued to grow strongly, with an average annual growth rate of 7.5% in nominal GDP from 2021 to 2024.