Having time on weekends and doing what you like is a pleasure for anyone.
With the heat that we are experiencing, instead of going to play golf, which is what I have really liked to do for 40 years, or going to the pool, which is what I like least, it allows me to do one of the things What amuses me the most, which is researching economics.
He had yet to search for sources of economic data in USAbecause I am interested in starting to analyze certain States of that country, which from an economic point of view are growing substantially, and to be able to compare these economies with the European ones to assess what is happening in the number one country in terms of GDP, but Furthermore, it is still the world’s economic power, still well above China and the European Union.
And I’ve met him Bureau of Economic Analysis (BEA), which is the equivalent of the Spanish INE or Eurostat of the European Commission and has as fundamental values in its definition Integrity, Quality and Excellence in all the data it produces and, although it is an agency that depends on the Department of Commerce of the Federal Government, maintains its independence in the preparation of data.
With that said, let’s take a look at the GDP of the United States, by the eight regions defined by this agency and the 51 States of the Union and what the BEA calls Overseas Activities, which are those that produce the Armed Forces stationed abroad.
The eight regions add up to 99.7% of GDP, leaving 0.3% for overseas activities.
The region that contributes the most to the GDP of the United States is the so-called Southeast, which generates 21.5% of the US GDP and is made up of 12 states, including the state of Florida. That state only accounts for 5.4% of the national GDP and is the fourth largest in importance with a GDP of 1.3 trillion (European) dollars. Within this region there are also states such as Georgia, which contributes 3.0% of GDP, North Carolina, with 2.9%, and Virginia, with 2.6%. This region contributes 5.2 billion dollars, which is equivalent to the sum of Germany and France.
The second region in specific gravity is known as Far West (Far West), which accounts for 20.2% of the GDP of the United States and whose most important state is the state of California. This region accounts for 14.6% of the total GDP and contributes 3.5 trillion dollars. Only California is bigger than Germany. In addition, in this region is the state of Washington, whose capital is Seattle, known for being the headquarters of Microsoft and Amazon, which generates 2.9% of GDP. The Far West generates 4.8 billion dollars, which is the sum of Germany plus Italy or France plus Italy plus the Netherlands.
The third of the regions is called MidEast, which accounts for 17.4% of the American GDP and whose most important state is New York, which alone generates 8% of the GDP that contributes 1.9 billion dollars and is the second most important state in the country. Statistically it is bigger than Italy and Portugal combined. Within this region are the states of Pennsylvania, which contributes 3.6% to GDP, and New Jersey, which contributes another 2.9%.
This region, with 4.2 billion dollars, is greater in economic power than France plus Italy.
The fourth region in importance is that of the Great Lakes, with 13.1% of the total GDP and with the State of Illinois, whose capital is Chicago. This State only generates 4.1% of the wealth, but it is larger than the Netherlands and Portugal combined. Also in this region are the states of Ohio, with 3.2% of wealth, and Michigan with 2.5%.
Los great lakes they contribute 3.2 billion dollars that is equivalent to all of Germany.
The fifth of the regions is the so-called South West, which contributes 11.9% of the total wealth of the USA, with Texas as the most important state in this region. Texas contributes 8.8% of GDP and is the third largest state behind California and New York. Texas brings in $2.1 trillion and is just as wealthy as Spain plus the Netherlands. In this region is also Arizona which adds up to 1.8% of GDP. This region contributes 2.9 billion dollars, equivalent to the sum of the GDP of Italy plus Spain.
The other three regions that are missing are Plains, which accounts for 6.3% of GDP, which contributes 1.5 trillion dollars and which has Minnesota as the most important state with 1.6% of GDP, New England, with 5.3% of GDP, which contributes 1.3 trillion dollars and has Massachusetts as a star state with a GDP of 0.7 billion dollars and represents 2.8% of the American GDP. The last of the regions is Rocky Mountain, with a GDP of 3.8% that contributes an absolute value of 0.9 billion and with Colorado as the largest State with 0.4 billion.
The last three regions – Plains, New England and Rocky Mountain – together add up to 3.6 billion dollars and are larger than all of Germany.
We see, therefore, that the GDP of the USA in the year 2021 it has been 24 billion dollars. It has grown by 1.6% in the first quarter of 2022, which has placed it at an annualized GDP of 24.4 trillion, which allows it to remain the largest country in the world, and that its five main states add up to 9.9 billion between them. billions of dollars. These five states are three times the size of Germany.
It is clear that the United States plays in another division and if we want to compete as European Union we have to start putting together a European growth strategy with a very clear agenda of what we want to be.
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