Texas is the second-largest American state by population (right after California) and by area (right after Alaska). Situated in the South Central parts of the country, Texas is surrounded by Arkansas, Louisiana, New Mexico, Oklahoma, the Mexican Gulf, and the Mexican states of Nuevo Leon, Coahuila, Tamaulipas, and Chihuahua. Texas has the second-biggest economy in the United States, right behind California, with a GSP of $1.8trillion. Its gross state product is bigger than the GDP of Spain, South Korea, Russia, and Canada, among others. It has the fourth-biggest economy of all nation subdivisions globally right behind Japan’s Kanto region, England, and California.
Countries With A Bigger GDP Than Texas
Other than being the world’s most highly populated country, China had the second biggest GDP on the planet in 2018. Since the country adopted the 1978 economic reforms, the Chinese economy has been growing at an annual growth of over 6%. China’s GDP increased by $150billion from 1978 to 2017 ($12.24trillion). China has had the second-highest economy by nominal-GDP since 2010 and the world’s biggest economy by PPP since 2014. China is the second-biggest importer and the leading exporter on the planet. China’s contribution to the world’s GDP from 2010 to 2019 has been between 25% and 39%. China is home to a considerable percentage of the world’s wealthiest people.
Other than being the world’s eleventh-most populous nation, Japan had the third biggest GDP in 2018 right behind china. After the Second World War, the Japanese economy started growing at a very high rate, and by 1980, Japan had the second-largest economy on the planet. Currently, the Japanese economy is ranked fourth globally by PPP. Japan is the world leader in the electronic and automotive industries. It is the fourth biggest exporter and importer in the world. Its main imports include raw materials, textiles, chemicals, foodstuffs, and fossil fuel, among others. Its main exports include auto parts, semiconductors, vehicles, and transportation equipment, among others.
Other than being the second-most populous European country, Germany has the fourth biggest GDP on the planet. Germany is the most highly populated EU member state, which occupies an area of about 137,988sq miles. As an international leader in numerous technological and industrial sectors, Germany is the third biggest importer and exporter. Germany’s automotive industry is ranked fourth on the planet and it is considered to be the most innovative and competitive sector which produces modern cars. It has a social market economy with a high innovation level, low corruption level, a considerable capital stock, and a highly-skilled workforce.
Other than being the most populous American state, California has the biggest GDP in the country. If California was a sovereign state, it would have had one of the biggest GDP on the planet right behind Germany. With a GSP of $3.02trllion, California has the biggest sub-national economy on the planet. California’s economy is bigger than Australia and Africa. The state’s economy is dependent on trade, with international commerce accounting for 25% of its economy. Some of California’s main exports are electronic products and computers.
The United Kingdom
The U.K. is a sovereign state that includes several small islands, the northern part of Ireland and Great Britain. Britain was one of the leading members of the EU, and it had the fifth-biggest GDP on the planet in 2018 right behind Germany. In terms of the exchange rate, the U.K. is the second-biggest in Europe and the fifth largest on the earth. Britain has the ninth-biggest economy by PPP. The U.K. was the world’s first industrialized state and the foremost power during the nineteenth and early twentieth centuries. The U.K is still a great-power with considerable political, scientific, military, economic, and cultural influence globally.
Other than being the fourth-most populous European state, France had the sixth biggest economy by GDP in 2018. As a member of the G7 (Group-of-Seven) top industrialized states, it is the tenth-biggest by PPP. It was one of the 11European Union members who launched Euro in 1999, and by 2002 France had replaced the French Francs with Euro. According to the WTO, France was the fourth-biggest importer and sixth-largest exporter of manufactured products in 2009. France is a leading tourist destination and home to several World Heritage Sites.
India had the world’s seventh-biggest GDP in 2018, right behind France. The Indian economy has been growing at an average of 5.8% per annum in the last 20years. India had the second-biggest labor force of about 513.7million individuals in 2016. Agriculture contributed about 18.1% to the country’s GDP, while the service sector contributed about 55.6%. India was the nineteenth-biggest importer and tenth-biggest exporter in 2011. Some of their main exports include chemicals, engineering goods, software, textile products, and petroleum products, among others.
Other than being the sixth most-populous European state, Italy had the fourth biggest GDP in the continent in 2018. Italy is one of the most economically and culturally advanced nations. It has an advanced capitalist-mixed economy that is ranked eighth globally. Since it is one of the founding member-states of the Eurozone and the G7, Italy is considered to be a leader in global exports and imports. Italy is known for its competitive agricultural industry, innovative and creative businesses, and its high-quality fashion, food, machinery, and automobile industries. Italy was the seventh-biggest exporter in 2016. Italy conducts over 59% of its total trade with the other members of the European Union.
The Brazilian economy was ranked ninth globally in 2018, and it is considered to be an advanced emerging-economy. Brazil is considered to be a significant bread basket on the planet since it has been the leading coffee producer for over 150years. The World Bank classified Brazil as an upper-middle-income nation and a newly industrialized state. It is the biggest national economy in Latin America. Brazil’s labor force is ranked sixth on earth. The country’s diversified economy includes a wide range of services, industry, and agriculture. Brazil’s major exports include orange juices, coffee, textiles, automobiles, ethanol, steel, footwear, and iron ore among others. Brazil ranks twenty-third globally in terms of the value of its exports.