Special Report

How GDP of US States Compares to Countries Around the World

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New Mexico
> GDP: $91.0 billion
> Country w/ similar GDP: Ecuador ($87.4 billion)
> N.M. population: 2.1 million (Ecuador: 16.6 million)
> N.M. GDP per capita: $43,566 (Ecuador: $5,256)

New Mexico has a GDP of $91.0 billion, in line with the GDP of the South American nation of Ecuador. New Mexico’s economy relies on industries like agriculture, forestry, mining, and arts, entertainment, and accommodation, which employ a larger than typical share of workers in the state. Meanwhile, Ecuador’s economy depends heavily on petroleum exports and suffered in recent years from falling oil prices.

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New York
> GDP: $1.4 trillion
> Country w/ similar GDP: Australia ($1.4 trillion)
> N.Y. population: 19.8 million (Australia: 24.6 million)
> N.Y. GDP per capita: $71,252 (Australia: $55,926)

New York state, home to one of the financial capitals of the world, is one of three states with an economic output that exceeds $1 trillion. It closely matches the GDP of Australia. More than half of Australia’s $243 billion in exports came from minerals and natural resources like iron, gold, coal, and petroleum. Australia’s GDP per capita of $55,926 is lower than New York’s GDP per capita but is very close to the U.S. GDP per capita of $55,418.

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North Carolina
> GDP: $484.3 billion
> Country w/ similar GDP: Norway ($481.8 billion)
> N.C. population: 10.3 million (Norway: 5.3 million)
> N.C. GDP per capita: $47,142 (Norway: $91,219)

The size of North Carolina’s economy, like that of Massachusetts and Washington, is closest to that of Norway’s. As one of the world’s largest oil exporters, the Northern European country, home to about half as many people as North Carolina, has a GDP per capita of more than $91,000, nearly double the per capita economic output of North Carolina.

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North Dakota
> GDP: $50.8 billion
> Country w/ similar GDP: Ghana ($50.6 billion)
> N.D. population: 755,393 (Ghana: 28.8 million)
> N.D. GDP per capita: $67,244 (Ghana: $1,756)

North Dakota’s economy is roughly the size of the entire African nation of Ghana. North Dakota’s economy is heavily dependent on resource extraction, an industry that flourished in the last 10 years due to new developments in hydrofracking methods — methods that allow for the extraction of natural gas in the state’s Bakken Formation.

Resource extraction is also a pillar of Ghana’s far less diversified economy. Ghana’s major exports include oil, gold, and cocoa.

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Source: Diether / Wikimedia Commons

Ohio
> GDP: $590.7 billion
> Country w/ similar GDP: Poland ($600.9 billion)
> Ohio population: 11.7 million (Poland: 38.0 million)
> Ohio GDP per capita: $50,666 (Poland: $15,823)

Poland has the sixth largest economy in the European Union with a GDP of just over $600 billion, roughly in line with Ohio’s GDP. Both economies are largely focused on manufacturing — more than 40% of Poland’s exports are manufactured goods like cars and computers. More than 15% of Ohio workers are employed in the manufacturing sector compared to 10.1% of workers nationwide.

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