America’s $20 Trillion Economy | Legacy Wealth Management

The sum of its parts, every U.S. state plays an integral role in this nation’s overall economy.

Texas, for example, has an economic output comparable to South Korea, while California, if it were its own country, would rank 5th overall—just below Germany and Japan.

The visualization below, from Visual Capitalist’s Avery Koop and Joyce Ma used 2022 annual data from the U.S. Bureau of Economic Analysis to showcase each state’s real gross domestic product.

Notably, California, New York, and Texas account for almost one-third of the entire country’s economic output—a combined $6.3 trillion dollars. The only other state that has reached the trillion-dollar mark is Florida with $1.1 trillion.

Material prepared by Sherman Portfolios, LLC.

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