Vanuatu has more basic industries for income, including food and fish freezing, and meat canning. In other words, Alaska is approximately 10.12 times larger than Florida. > La. - GDP equal to: Morocco ($117.9 billion) plus Benin ($10.4 billion). We could also say that Florida has an area 57% the size of Italy. - 2018 state GDP: $563.7 billion population: 3.0 million (Morocco: 35.7 million) North Carolina is considered by some as the furniture capital of the world, but it boasts strong finance and insurance industries, too. Singapore has a highly developed economy and is a global financial hub. Alaska - GDP equal to: Romania ($239.6 billion) plus Marshall Islands ($0.2 billion). Still, Tennessee and Singapore have similarly sized economies, at $315.1 billion and $310.0 billion, respectively. - GDP higher than: 156 of 212 countries - GDP higher than: 136 of 212 countries Squash, vanilla beans, and yams are plentiful in Tonga. > GDP: $321.1 billion 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. Though Algerias population is more than eight times the size of South Carolinas population, and the country has a landmass that is over 28 times the size of the state, the two geographic areas have nearly the exact same GDP. - 2018 state GDP: $592.2 billion This isnt a theoretical analysis, nor are we looking at something that happened years ago. Tobacco is also an anchor of Sri Lanka's economy, along with oil and tea. Poland has the sixth largest economy in the European Union with a GDP of just over $600 billion, roughly in line with Ohios GDP. Copyright 2023 | Florida Chamber of Commerce | All Rights Reserved. Michigan Pennsylvania, particularly in its southwest counties, is a major producer of coal. Colorado is projected to have slower growth in its economy, but low unemployment rates have brightened its financial forecast. Slovenia still has one of the highest per capita GDPs in central Europe, while American Samoa has seen slight economic growth thanks to fixed private investment and export of goods. - GDP equal to: Zimbabwe ($31billion) plus Central African Republic ($2.2 billion). - GDP higher than: 177 of 212 countries Of all the nations in the world, Colorados $323.3 billion economy most closely matches that of Singapore. - GDP higher than: 152 of 212 countries Of the countrys $60.8 billion in exports, 95% are crude petroleum. Uruguay's population has remained largely steady over the last decade. - 2018 state GDP: $33.3 billion - GDP higher than: 159 of 212 countries Median Income. - 2018 state GDP: $336.3 billion Due in part to its close proximity to Western Europe, Moroccos largest trading partners are Spain and France. On this page. While Hawaii exports goods like pineapples and macadamia nuts, oil is its biggest export. Pennsylvania Though Slovenias transition to a market economy following the breakup of Yugoslavia was relatively smooth, the 2012 European financial crisis and ensuing years of fiscal mismanagement have stymied economic growth in the country. 2020 New Hampshire Presidential Poll. - GDP equal to: Bangladesh ($274billion) plus San Marino ($1.6 billion). GDP per capita: $58,053 (Slovak Republic: $19,897). 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. > Utah GDP per capita: $48,376 (Hungary: $15,648). Latvia, meanwhile is all about processingfoods, metals, and woodas part of its trade strategy. Editorials are the institutional voice of the Tampa Bay Times. Missouris $275.6 billion GDP most closely matches that of Chile, though the South American country has nearly three times the population of the Show Me State. > GDP: $292.3 billion Alaska is bigger than most people realize. It's as wide as the lower states and larger than Texas, California, and Montana combined. Iraq has about nine times as many people as Oregon, however, meaning its GDP per capita is about one-ninth of Oregons. > Country w/ similar GDP: New Zealand ($181.5 billion) > N.Y. population: 19.8 million (Australia: 24.6 million) Maines economy generated $55.6 billion in 2017, roughly the same as Azerbaijan, a country with a population more than seven times that of the northern New England state. > Mich. GDP per capita: $46,055 (Argentina: $10,397). More recent data out of the US suggests that gun ownership . Finding a qualified financial advisor doesnt have to be hard. - 2018 state GDP: $1.8 trillion Floridas growing economy is on the right path forward as the Florida Chamber Foundation, through its. Nearly 16% of the states labor force is employed in the professional, scientific, and management sector, the largest share of any state. One key contributor to Georgias economy is a growing film industry. A common debate at the bar and on the internet regularly centers on how one state could stand on its own independently. - GDP equal to: Sweden ($556.1 billion) plus Haiti ($9.7 billion). 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. Connecticuts economy generated $238.9 billion in 2017, similar to the GDP of Portugal a country with nearly three times as many people and a landmass over six times the size of the state. The population of Florida is 21,781,128, an increase of 1.1% from 2020. The southeastern European countrys GDP is $216.3 billion, and Louisianas is $226.6 billion. Virginia Qatar, an oil-rich Middle Eastern nation is one of the wealthiest countries in the world, with a GDP per capita of $65,694. COVID changed the world and the global economy, and the new numbers for 2020 are out, showing Floridas growth compared to the rest of the world. On a per capita basis, Singapore is wealthier than Tennessee. While Florida is only slightly bigger than average when it comes to area, it has one of the largest populations of any state. While it may be temporary as other world economies are continuing to rebound from the global pandemic, Florida has moved up two slots from 17th to 15th largest global economy if Florida were a country. > GDP: $55.6 billion Nigeria, meanwhile, is one of the worlds largest oil producers. What might be more surprising, however, is that Nebraska has roughly the same . 1 in GDP, followed by Texas and New York. - GDP higher than: 194 of 212 countries More than 15% of Ohio workers are employed in the manufacturing sector compared to 10.1% of workers nationwide. > Idaho GDP per capita: $39,032 (Uzbekistan: $2,031). > S.C. GDP per capita: $39,673 (Algeria: $4,820). Suriname (163,820 km) Tunisia (163,610 km) Uruguay (181,034 km) Cambodia (181,035 km) Syria (185,180 km) Compared to Largest State. It was admitted as the 27th state in 1845. - GDP equal to: Singapore ($364.2 billion) plus Eritrea ($2.6 billion). > Country w/ similar GDP: Poland ($600.9 billion) However, the Miami metro area is the state's most populous area, with a population of well over 6 million people. > Ariz. GDP per capita: $42,353 (Israel: $34,135). Tobacco, the auto industry, and aircraft industry make up some staples of Ohios GDP figures. 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. Nebraskas bread and butter is in meat, corn, and soybeans. > GDP: $100.1 billion The table above shows a comparison of 30-year vs. 15-year fixed-rate loans for a $250,000 home with a 20% down payment. > GDP: $297.2 billion Thus, the small size and large population makes New Jersey the most densely populated . > GDP: $238.9 billion Australia is the planet's sixth largest country after Russia, Canada, China, the USA, and Brazil. It's had more deaths . GDP per capita: $48,377 (Romania: $11,045). With a population of 21.5 million according to the 2020 census, Florida is the most populous state in the Southeastern United States, and the second-most populous state in the South behind Texas. Orlando bids a sad, though not final, farewell to musical theater powerhouse Tod Kimbro, Thundering Spirit Family Pow Wow returns to Mount Dora this weekend, Monster Jam crashes into Orlando's Camping World Stadium this weekend, The Uptown Arts Expo is back in Altamonte Springs in late March. - GDP higher than: 160 of 212 countries Moroccos top exports include fertilizers, insulated wires, and cars. 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. - GDP equal to: Hong Kong SAR, China ($362.7 billion) plus Solomon Islands ($1.4 billion). Michigan has a $458.8 billion GDP, roughly in line with the economic output of the South American nation of Argentina. 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. > Ind. Alabama > GDP: $150.1 billion Hungary is home to 9.8 million people, more than triple the population of Kansas. > GDP: $510.8 billion Its closest comparison on a global stage is India, which is home to 1.3 billion people, making it the second most populous country in the world by population. The countrys economy has struggled since leader Muammar Gaddafi was deposed in 2011, leading to a power vacuum that has caused the country to fracture politically. Nigeria depends on oil, shipping, and cocoa, while Albanias market is in flux due to close ties with Greece and Italy, countries with volatile economies. Indian Ocean. - GDP higher than: 202 of 212 countries population: 6.7 million (Singapore: 5.6 million) Iowa - GDP equal to: Ecuador ($108.4 billion) plus Liechtenstein ($6.2 billion). - GDP higher than: 179 of 212 countries > N.D. population: 755,393 (Ghana: 28.8 million) In Mauritania, the economy is focused on agriculture and raising livestock. I t's easy to forget how large the United States is for one country, especially when you compare it to a continent like Europe that's made up of so many smaller countries. Chile derives much of its wealth from natural resources, primarily copper. > Neb. Not only do Colorado and Singapore have similar GDPs, but also their population size is nearly identical at around 5.6 million. Ethiopia is still a country with extreme poverty, but is seeing rapid growth thanks to agriculture. > GDP: $323.3 billion Aluminum is one of Cameroons main industries, while Sao Tome and Principe is known for its cocoa bean industry. Costa Rica sends out tons of precision instruments and prepared foods. Kazakhstan, a country 15 times the size of Oklahoma by landmass and nearly five times as large by population, has a similarly sized economy. 2. The State of Florida is in the far southeastern region of the United States, and it covers an area of 65,757 sq. Floridas $883.1 billion GDP is the fourth largest of all states and is relatively close to Netherlands GDP of $918.3 billion. Key Facts. population: 961,939 (Croatia: 4.1 million) The Garden State has a rich mix of chemicals, gambling, agriculture, and even perfumes that contribute toward its GDP. Ghanas major exports include oil, gold, and cocoa. More than three-quarters of Saudi Arabias exports are oil-related either in crude, refined, or gas form. About half of the countrys exports are petroleum. For almost two centuries, cotton has been essential to Oklahomas economy. Rhode Island Florida is known for being one of the biggest states, but this reputation actually comes from the state's population, not its area. What about over the last month, ending Wednesday? Often, however, they have far more developed economies and therefore higher GDPs per capita than the comparable country. In its third decade of existence, North Macedonia is finally seeing notable economic growth. Nevadas economy generated $142.9 billion in 2017, nearly the same as the Middle Eastern nation of Kuwait which happens to be one of the wealthiest nations in both the region and the world. You may also like: 50 most congested cities in America, - 2018 state GDP: $168.3 billion Both economies are largely focused on manufacturing more than 40% of Polands exports are manufactured goods like cars and computers. While Alaska had one of the lowest GDPs in 2018, it still tops the combined total of Slovenia and American Samoa. - 2018 state GDP: $39.1 billion Arkansas, the state where Wal-Mart was founded, is heavily reliant on manufacturing. Simply replace the FIPS codes in the URL to generate your own comparison. Portugal's Atlantic coastline is 837 kilometers long, about 520 miles. Germany's area is approximately 137,847 square miles (or 357,022 square kilometers if you're German). State leaders in Arizona are promising more education spending made possibleby economic growth that includes a $750 million surplus for the 2021 budget year. Washington > R.I. population: 1.1 million (Slovenia: 2.1 million) 24/7 Wall St. identified the country with the GDP that most closely matches the size of the economy of each state. While economists, politicians, and stockbrokers fret over each decimal point of movement in an areas gross domestic product (GDP), sometimes its good to keep a frame of reference in mind. 1. > Country w/ similar GDP: Oman ($74.8 billion) > GDP: $184.7 billion republish under a Creative Commons License, and we encourage you to > GDP: $2.6 trillion A coup threw Zimbabwes economy into uncertainty, but mining has always been a staple. Just because a country (or two) may have more residents than a U.S. state, this does not mean its GDP is healthy. To be blunt: Too many people are still dying from COVID, and at a much higher rate in Florida than any other place in our comparison. The majority of U.S. states are smaller in both population and landmass than the country with the closest GDP. How did they do it? Texas would be able to fit much of Florida's peculiar form inside the state outline if it was kind enough to let bits of Georgia, South Carolina and Alabama in for whatever reason. Azerbaijans economy benefits from its oil reserves, but economic growth has been stifled in recent years by corruption. > Ill. population: 12.8 million (Saudi Arabia: 32.9 million) > Country w/ similar GDP: Russian Federation ($1.7 trillion) Even more significant is the GDP of each . A resource-rich state, Alaskas 1.6 billion barrels of proved crude oil reserves is more than all but five other states. - GDP higher than: 196 of 212 countries SmartAssets free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Kazakhstan is geographically large about the size of Western Europe and resource rich. - GDP higher than: 178 of 212 countries Latvia, a former Soviet republic in northeastern Europe, transitioned to a free market economy in the 1990s. - GDP higher than: 189 of 212 countries > GDP: $67.0 billion > Country w/ similar GDP: Slovak Republic ($108.2 billion) - GDP higher than: 192 of 212 countries > GDP: $363.0 billion Tim Wenger. Kentucky has a diverse economy, notable for whiskies, horse breeding, and a relatively new industry of antisera. > N.C. GDP per capita: $47,142 (Norway: $91,219). The United States fares okay, but that graph doesnt scream American exceptionalism. Several of the other countries have kept deaths at far lower rates. In other words, Alaska is approximately 10.12 times larger than Florida. New Mexico has a GDP of $91.0 billion, in line with the GDP of the South American nation of Ecuador. Iowa is in the rare situation of low unemployment and not enough wage growth. > Colo. GDP per capita: $57,654 (Singapore: $55,236). - GDP equal to: Serbia ($50.6 billion) plus Solomon Islands ($1.4 billion). - 2018 state GDP: $233.9 billion Situated along the Mediterraneans eastern shore, Lebanon has long been a regional trading hub. At home, environmental factors, new technology, and ever-changing laws cause the GDPs of some states to stagnate. [4] You may also like: Best value public colleges in America, - 2018 state GDP: $569.5 billion The largest exporter of cocoa beans in the world, Ivory Coast has a relatively well-developed economy and is wealthier than most countries in the region. British Virgin Islands. Florida is an outlier on this list in that its GDP per capita of $42,085 falls below the GDP per capita of the country with most similarly sized economy $53,598 in the Netherlands. - 2018 state GDP: $56.1 billion Singapores economy is highly developed and relies heavily on exports of computer components. Ohio All data used to create the index came from the Bureau of Labor Statistics and the U.S. Census Bureau. GDP per capita: $71,456 (Norway: $91,219). This makes it the least densely populated in the country. > Ore. GDP per capita: $50,138 (Iraq: $5,450). > N.H. population: 1.3 million (Oman: 4.6 million) - 2018 state GDP: $412.6 billion Oklahoma > Country w/ similar GDP: Qatar ($173.4 billion) One of the wealthiest states in the country, Massachusetts has a GDP per capita of $71,456. > Country w/ similar GDP: Netherlands ($918.3 billion) The size of North Carolinas economy, like that of Massachusetts and Washington, is closest to that of Norways. Image: World Bank/Bureau of Economic Analysis. > Minn. population: 5.6 million (Singapore: 5.6 million) How that at 261,231 square miles of land, Texas would be the 39th-largest country by land area in the world, coming in just behind Zambia and ahead of Myanmar. Geographic location has been the key factor in Florida's long and colourful development, and it helps explain .