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California Economy...?

What is California's main economy product?

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  • 1 decade ago
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    i got it of of the internet i hope itz the best awnser

    The economy of California is a dominant force in the economy of the United States, with California paying more to the federal system than it receives in direct monetary benefits.

    Revenue

    Agriculture (including fruit, vegetables, dairy, and wine) is a major California industry. In 2004 agriculture brought in $31.8 billion in revenue, making it more than twice the size of any other states' agriculture industry. In fact, California is the world's fifth largest supplier of food and agriculture commodities.[1] Agriculture accounts for just slightly over 2% of California's $1.55 trillion gross state product.

    The Hollywood sign is the most well-known symbol of California's huge entertainment industry.Other major industries include:

    aerospace

    entertainment, primarily television by dollar volume, although many movies are still made in California

    light manufacturing including computer hardware and software, and the mining of borax.

    California also draws significant revenue from international trade and tourism. The exports of goods made in California totaled $94 billion in 2003.[2] Nearly $40 billion of that total was computers and electronics, followed by agriculture, non-electrical machinery, transportation, and chemicals.[3] Total direct travel spending in California reached $82.5 billion in 2004, a 7.4% increase over the preceding year.[4] Los Angeles County receives the most tourism in the state.[5]

    Historically, California's economy has been controlled by huge corporations such as the Southern Pacific Railroad, Standard Oil of California and the Pacific Gas and Electric Company.

    California as an independent nation

    California compared to other countries GDP is in the same range as Spain, Italy and China (corresponding with the Department of Finance figures)See also Comparison between U.S. states and countries nominal GDP

    The economy of California is often cited for how it would compare to other countries if California were an independent nation. The statistic quoted varies widely (usually placing California between 6th and 10th), depending on the source.

    The two main issues are:

    determining California's gross state product

    determining the gross domestic product (GDP) for various countries

    California's gross state product

    According to the California Department of Finance, California's gross state product is $1.543 trillion ("accelerated estimates for 2004 were completed and released in June 2005").[6]

    According to the Bureau of Economic Analysis, California's gross state product is $1.543 trillion (2004 data, revised June 2005).[7]

    According to the California Legislative Analyst's Office, "California's gross state product is nearly $1.5 trillion..." ("Gross product in 2003", released in 2004).[8]

    Rankings from different sources

    The World Factbook

    According to The World Factbook published by the CIA, if California were an independent nation, it would have had the tenth largest economy in the world[9].

    This assumes that California's gross state product is $1.55 trillion.

    California Legislative Analyst's Office

    According to the California Legislative Analyst's Office, if California were an independent nation, it would have had the sixth largest economy in the world[10].

    California Department of Finance

    According to the California Department of Finance, if California were an independent nation, it would have had the seventh largest economy in the world[11].

    The rankings are:[12]

    the combined United States

    China

    Japan

    India

    Germany

    United Kingdom

    France

    Italy

    Russia

    California

    Brazil

    Canada

    Mexico

    Spain

    South Korea

    (2005 estimates)

    The rankings are:[13]

    the combined United States

    Japan

    Germany

    United Kingdom

    France

    California

    Italy

    China

    Canada

    Spain

    (2004 data)

    The rankings are:[14]

    the combined United States

    Japan

    Germany

    United Kingdom

    France

    Italy

    California

    China (excluding Hong Kong)

    Spain

    Canada

    Mexico

    Korea

    India

    Australia

    Netherlands

    (2003 data)

    GDP

    California is responsible for 17% of the United States' gross domestic product (GDP). The state's GDP is at about $1.5 trillion (as of 2004).

    The GDP increased at an annual rate of 3.1% in the first quarter of 2005.[15]

    Per capita personal income

    Per capita personal income was $33,403 as of 2003, ranking 12th in the nation. Per capita income varies widely by geographic region and profession. The Central Valley has the most extreme contrasts of income, with migrant farm workers making less than minimum wage. While some coastal cities include some of the wealthiest per-capita areas in the U.S., notably San Francisco and Marin County, the non-agricultural central counties have some of the highest poverty rates in the U.S. The high-technology sectors in Northern California, specifically Silicon Valley, in Santa Clara and San Mateo counties, are currently emerging from economic downturn caused by the dot.com bust, which caused the loss of over 250,000 jobs in Northern California alone. Recent (Spring 2005) economic data indicates that economic growth has resumed in California, although still slightly below the national annualized forecast of 3.9%. The international boom in housing prices has been most pronounced in California, with the median property price in the state rising to about the half-million dollar mark in April 2005.

    Tax burden

    California's overall tax burden of $10.66 per $100 of personal income is slightly above the $10.43 average for the United States.[16]

    Housing

    The international boom in housing prices has been most pronounced in California, with the median property price in the state rising to about the half-million dollar mark in April 2005. Orange County and the San Francisco Bay Area have the highest median prices, each approaching $650,000 in August 2004.[17] The least expensive region is the Central Valley, with a median price of $290,000.[18]

    Various real estate markets in California are currently considered to be in a housing bubble.

    25 wealthiest places in California

    Vineyards, such as this one in Mendocino County, are an important component of the state's economy.Thanks to the state's powerful economy, certain California cities are among the wealthiest on the planet. The following list is ranked by per capita income:

    Belvedere, California – Marin County – $113,595

    Rancho Santa Fe, California – San Diego County – $113,132

    Atherton, California – San Mateo County – $112,408

    Rolling Hills, California – Los Angeles County – $111,031

    Woodside, California – San Mateo County – $104,667

    Portola Valley, California – San Mateo County – $99,621

    Newport Coast, California – Orange County – $98,770

    Hillsborough, California – San Mateo County – $98,643

    Diablo, California – Contra Costa County – $95,419

    Fairbanks Ranch, California – San Diego County – $94,150

    Hidden Hills, California – Los Angeles County – $94,096

    Los Altos Hills, California – Santa Clara County – $92,840

    Tiburon, California – Marin County – $85,966

    Sausalito, California – Marin County – $81,040

    Monte Sereno, California – Santa Clara County – $76,577

    Indian Wells, California – Riverside County $76,187

    Malibu, California – Los Angeles County – $74,336

    Del Monte Forest, California – Monterey County – $70,609

    Piedmont, California – Alameda County – $70,539

    Montecito, California – Santa Barbara County – $70,077

    Palos Verdes Estates, California – Los Angeles County – $69,040

    Emerald Lake Hills, California – San Mateo County – $68,966

    Loyola, California – Santa Clara County – $68,730

    Blackhawk-Camino Tassajara, California – Contra Costa County – $66,972

    Los Altos, California – Santa Clara County – $66,776

    See complete list of California locations by per capita income

    30 poorest places in California

    Also thanks to California's considerable and increasing wealth disparities, many communities are among the poorest in the western world. The following list is ranked by increasing per capita income, f

  • Anonymous
    1 decade ago

    The predominant industry, more than twice as large as the next, is agriculture, (including fruit, vegetables, dairy, and wine).

    Good Luck!!!

  • 1 decade ago

    avocados

  • N
    Lv 4
    1 decade ago

    econony product? ... silicon? .... dk

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