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Afghanan
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Topic: American States GDP vs Other Nations Posted: 05-Jul-2007 at 01:54 |
Very interesting map.
Gross Domestic Product (GDP) is a convenient way of measuring and comparing the size of national economies. Annual GDP represents the market value of all goods and services produced within a country in a year. Put differently:
GDP = consumption + investment + government spending + (exports imports)
Although the economies of countries like China and India are growing at an incredible rate, the US remains the nation with the highest GDP in the world and by far: US GDP is projected to be $13,22 trillion (or $13.220 billion) in 2007, according to this source. Thats almost as much as the economies of the next four (Japan, Germany, China, UK) combined.
The creator of this map has had the interesting idea to break down that gigantic US GDP into the GDPs of individual states, and compare those to other countries GDP. What follows, is this slightly misleading map misleading, because the economies both of the US states and of the countries they are compared with are not weighted for their respective populations.
Pakistan, for example, has a GDP thats slightly higher than Israels but Pakistan has a population of about 170 million, while Israel is only 7 million people strong. The US states those economies are compared with (Arkansas and Oregon, respectively) are much closer to each other in population: 2,7 million and 3,4 million.
And yet, wile a per capita GDP might give a good indication of the average wealth of citizens, a ranking of the economies on this map does serve two interesting purposes: it shows the size of US states economies relative to each other (California is the biggest, Wyoming the smallest), and it links those sizes with foreign economies (which are therefore also ranked: Mexicos and Russias economies are about equal size, Irelands is twice as big as New Zealands). Heres a run-down of the 50 states, plus DC:
- California, it is often said, would be the worlds sixth- or seventh-largest economy if it was a separate country. Actually, that would be the eighth, according to this map, as France (with a GDP of $2,15 trillion) is #8 on the aforementioned list.
- Texas economy is significantly smaller, exactly half of Californias, as its GDP compares to that of Canada (#10, $1,08 trillion).
- Florida also does well, with its GDP comparable to Asian tiger South Koreas (#13 at $786 billion).
- Illinois Mexico (GDP #14 at $741 billion)
- New Jersey Russia (GDP #15 at $733 billion)
- Ohio Australia (GDP #16 at $645 billion)
- New York Brazil (GDP #17 at $621 billion)
- Pennsylvania Netherlands (GDP #18 at $613 billion)
- Georgia Switzerland (GDP #19 at $387 billion)
- North Carolina Sweden (GDP #20 at $371 billion)
- Massachusetts Belgium (GDP #21 at $368 billion)
- Washington Turkey (GDP #22 at $358 billion)
- Virginia Austria (GDP #24 at $309 billion)
- Tennessee Saudi Arabia (GDP #25 at $286 billion)
- Missouri Poland (GDP #26 at $265 billion)
- Louisiana Indonesia (GDP #27 at $264 billion)
- Minnesota Norway (GDP #28 at $262 billion)
- Indiana Denmark (GDP #29 at $256 billion)
- Connecticut Greece (GDP #30 at $222 billion)
- Michigan Argentina (GDP #31 at $210 billion)
- Nevada Ireland (GDP #32 at $203 billion)
- Wisconsin South Africa (GDP #33 at $200 billion)
- Arizona Thailand (GDP #34 at $197 billion)
- Colorado Finland (GDP #35 at $196 billion)
- Alabama Iran (GDP #36 at $195 billion)
- Maryland Hong Kong (#37 at $187 billion GDP)
- Kentucky Portugal (GDP #38 at $177 billion)
- Iowa Venezuela (GDP #39 at $148 billion)
- Kansas Malaysia (GDP #40 at $132 billion)
- Arkansas Pakistan (GDP #41 at $124 billion)
- Oregon Israel (GDP #42 at $122 billion)
- South Carolina Singapore (GDP #43 at $121 billion)
- Nebraska Czech Republic (GDP #44 at $119 billion)
- New Mexico Hungary (GDP #45 at $113 billion)
- Mississippi Chile (GDP #48 at $100 billion)
- DC New Zealand (#49 at $99 billion GDP)
- Oklahoma Philippines (GDP #50 at $98 billion)
- West Virginia Algeria (GDP #51 at $92 billion)
- Hawaii Nigeria (GDP #53 at $83 billion)
- Idaho Ukraine (GDP #54 at $81 billion)
- Delaware Romania (#55 at $79 billion GDP)
- Utah Peru (GDP #56 at $76 billion)
- New Hampshire Bangladesh (GDP #57 at $69 billion)
- Maine Morocco (GDP #59 at $57 billion)
- Rhode Island Vietnam (GDP #61 at $48 billion)
- South Dakota Croatia (GDP #66 at $37 billion)
- Montana Tunisia (GDP #69 at $33 billion)
- North Dakota Ecuador (GDP #70 at $32 billion)
- Alaska Belarus (GDP #73 at $29 billion)
- Vermont Dominican Republic (GDP #81 at $20 billion)
- Wyoming Uzbekistan (GDP #101 at $11 billion)
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Adalwolf
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Posted: 05-Jul-2007 at 23:34 |
Haha, damn! I bet Canada is pissed about being located in Texas!
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Kevin
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Posted: 06-Jul-2007 at 00:24 |
I've seen this map before and it is indeed pretty interesting to look at!
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Panther
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Posted: 08-Jul-2007 at 07:33 |
Originally posted by Adalwolf
Haha, damn! I bet Canada is pissed about being located in Texas!
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That has got too be... the absolute "understatement" of the year! Oh... the brutal irony!
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Cywr
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Posted: 08-Jul-2007 at 17:45 |
Actually, that would be the eighth, according to this map, as France (with a GDP of $2,15 trillion) is #8 on the aforementioned list. |
6th when you consider that 'the world' and 'EU' can be safely removed from it ;)
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Arrrgh!!"
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ataman
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Posted: 09-Jul-2007 at 04:36 |
Originally posted by Afghanan
Missouri Poland (GDP #26 at $265 billion)
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Something is wrong with this map.
Edited by ataman - 09-Jul-2007 at 04:38
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Lmprs
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Posted: 09-Jul-2007 at 05:16 |
Originally posted by Afghanan
Washington – Turkey (GDP #22 at $358 billion) |
This is also incorrect according to Wikipedia:
Turkey
GDP (PPP) 2007 estimate, Total: $708.053 billion (16th), Per capita: $9,628 (66th)
GDP (Nominal) 2006 estimate, Total: $392,424 billion (18th), Per capita: $5,408 (68th)
Washington
The 2005 total gross state product for Washington was $268.5 billion, placing it 14th in the nation. The per capita income was $42,702, 17th in the nation.
Imperialist bastards. You are not that rich.
Edited by Feanor - 09-Jul-2007 at 06:55
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Styrbiorn
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Posted: 09-Jul-2007 at 05:22 |
Originally posted by ataman
Originally posted by Afghanan
Missouri Poland (GDP #26 at $265 billion)
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Something is wrong with this map.
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According to wiki, yes. I'd rather trust the World Bank ($339 billions in 2006) or IMF ($299 billions in 2005) though.
Same sources gives for Turkey $392bln resp. (respectively) $363bln.
Edited by Styrbiorn - 09-Jul-2007 at 06:28
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ataman
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Posted: 09-Jul-2007 at 10:25 |
Originally posted by Styrbiorn
Originally posted by ataman
Originally posted by Afghanan
Missouri Poland (GDP #26 at $265 billion) |
Something is wrong with this map.
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According to wiki, yes. I'd rather trust the World Bank ($339 billions in 2006) or IMF ($299 billions in 2005) though. Same sources gives for Turkey $392bln resp. (respectively) $363bln.
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Ok, I see a difference. Wikipedia gives GDP per capita, which is higher (for Poland) than GDP.
Edited by ataman - 09-Jul-2007 at 10:29
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gcle2003
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Posted: 09-Jul-2007 at 10:34 |
Originally posted by ataman
Ok, I see a difference. Wikipedia gives GDP per capita, which is higher (for Poland) than GDP. |
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Styrbiorn
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Posted: 09-Jul-2007 at 10:36 |
Originally posted by ataman
Ok, I see a difference. Wikipedia gives GDP per capita, which is higher (for Poland)than GDP. |
Actually it's just different. They have chosen a weighted value, according to local purchasing power. The "correct" value, ie the one used for comparison is not weighted at all.
Edited by Styrbiorn - 09-Jul-2007 at 10:40
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Decebal
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Posted: 10-Jul-2007 at 16:04 |
I think he means PPP, which by the way also makes this map baloney. What good is making $100,000 a year and being fabulously rich by say Turkish standards, if you live in San Francisco or New York and you have to drop $5000 on an apartment and hundreds of dollars a month on a parking spot alone? The map certainly needs to be adjusted for the purchasing power parity. Also, because of the wealth gap in the US, most people don't take much advantage of this high GDP. On this map, Texas, with a population of 21 million has the same GDP as Canada, with a population of 32 million. I can tell you that the middle-class Texan is not one and a half times richer than the average Canadian; but there probably are quite a few Texas oil billionaires who make it look so on paper.
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Lmprs
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Posted: 10-Jul-2007 at 17:18 |
Originally posted by Decebal
I can tell you that the middle-class Texan is not one and a half times richer than the average Canadian; but there probably are quite a few Texas oil billionaires who make it look so on paper. |
You are right, in fact I think gini index is more important than other criterias.
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Maharbbal
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Posted: 10-Jul-2007 at 17:42 |
No gini index is not more important (I think Mongolia has a good gini figure) what matters is GDP + HDI + gini + well some other factors taking count of the environment for instance
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Lmprs
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Posted: 10-Jul-2007 at 17:54 |
Originally posted by Maharbbal
I think Mongolia has a good gini figure… |
Wiki says it's between 0.40 - 0.44 and I have no reason to doubt it.
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ataman
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Posted: 11-Jul-2007 at 01:29 |
Originally posted by Decebal
I think he means PPP, |
Yes, I meant PPP. Sorry for confusion
Edited by ataman - 11-Jul-2007 at 01:32
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