Friday, January 14, 2011

Updated Map comparing each US States production of goods and services relative to another countries production...Fun times with GSP and GDP!!

Each State has a Gross State Product (GSP)---the dollar value of its production of goods and services in a calendar year.  If you add up each States GSP you will have Gross Domestic Product (GDP)--the dollar value of goods and services produced within the US in a calendar year.  This interactive compares each States GSP with another countries GDP that is similar. If some States were their own countries (California, Texas, Florida, etc) , they would be in the Top 20 in the world in terms of the size of their GDP.  Just another way to illustrate what a powerhouse we STILL are in producing "stuff"...

From THE ECONOMIST: Which countries match the GDP and population of America's states? (HT: Jason Welker)

""IT HAS long been true that California on its own would rank as one of the biggest economies of the world. These days, it would rank eighth, falling between Italy and Brazil on a nominal exchange-rate basis. But how do other American states compare with other countries? Taking the nearest equivalent country from 2009 data reveals some surprises. Who would have thought that, despite years of auto-industry hardship, the economy of Michigan is still the same size as Taiwan's?""
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